Gentera, whose main asset is Let’s Share Bankreported a profit of 1,326 million pesos for the first quarter of 2023, which represented an increase of 31.9% compared to the 1,005 million obtained in the same period of 2022.
This result was due, in part, to higher income from interest —although there was also a higher expense for this concept—, as well as an increase in commissions, mainly from insurance intermediation.
According to their report, in the first quarter of 2023 the total portfolio of gentera reached 54,318 million pesos, a growth of 10.1% compared to 49,321 million in the same period of 2022.
By subsidiary, Banco Compartamos reached a microcredit portfolio of 32,637 million, a growth of 12.8% in the period.
While Compartamos Financiera Peru closed the quarter at 18,054 million pesos, a growth of 4.7%; while With Credit (Mexico) added a portfolio balance of 3,627 million pesos, an increase of 15.8 percent.
The credit portfolio with credit risk in stage 3 (overdue), was at 3.60% at the end of the first quarter of the year, an increase compared to 2.56% in the same period of 2022.
On the other hand, the Capitalization Index (ICAP) was located at 39.5% in Banco Compartamos.
Other businesses
Regarding other businesses, aterna closed the quarter with a record of 9.6 million active insurance policies with operations in Mexico and Peru, a growth of 4.3%; while its network of Yastás correspondents registered in the first quarter of the year, close to 6.2 million operations.
“The results are very positive, expectations for 2023 remain valid despite a volatile context,” said Patricio Diez, CEO of Banco Compartamos.
