Saturday, December 04, 2021

NEWS

Mexican banks’ profits increase despite Covid-19 pandemic

Mexican banks’ profits increase despite Covid-19 pandemic

Mexico, Jul 31 (Prensa Latina) Banks in Mexico made 3.9 billion dollars in the first semester, 35.7 percent more than in same period in 2020, despite Covid-19, the National Banking Commission revealed on Friday.
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BBVA, with the largest presence in the country, made profits of 1.15 billion dollars, while the Santander bank reported 400 million dollars and the Citibanamex with 466 million dolars.

In Banorte, that figure reached 625 million, and others made profits over 150 million dollars.

According to the regulating office’s report, the balance of current loan portfolio until June totaled 250 billion dollars, accounting for a reduction of 11.1 percent, compared to same month last year. Meanwhile, the delay in payment rate stood at 2.45 percent.

Regarding the credit for Mexican families’ consumption, the reported sum was 47 billion dollars, a decrease of 6.7 percent in the period of reference.

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