4 C
New York
Thursday, February 9, 2023

Net income of banks in Mexico reached a record amount in November

Between January and November 2022, the net income of the banking in Mexico it reached 212 thousand 16 million pesos, 21.5% in real terms above what was achieved in the same period of 2021, which makes it the highest amount of resources since it has been recorded.

According to figures from the National Banking and Securities Commission (CNBV), after the 36.5% drop in profits in 2020, credit institutions in the country entered into a process of restructuring their operations and optimization of meanswhich led them to a rapid recovery, increasing 54.2% in 2021, from then on, everything has been smooth sailing for multiple banking institutions in Mexico.

You might be interested in: The Permanent Commission of Congress ratifies Omar Mejía Castelazo as deputy governor of Banxico

An element that has undoubtedly been fundamental in improving the financial results of banks is the tightening of monetary policy in the main nations of the world, which has extended to emerging markets such as Mexicoand whose most visible effect is the accelerated and strong increase in the rates of interest with the purpose of stopping and reversing the inflationpromoted first by the dislocation of some commodity markets during the pandemic and then by the conflict war between Russia Y Ukraine.

Certainly not all institutions financial It was the same for them at the party, because while some banks they continued to accumulate Benefitsothers, particularly the smaller ones and also those of more recent incorporation to the market Mexican, not yet reaching their equilibrium level reported losses. However, the banks with the biggest briefcase credit or assets, were the ones that managed to benefit the most from the granting of credit to companies and families.

According to the figures of the CNBVof the 50 banking institutions in the country, BBVA Mexico reported a net profit between January and November for 68 thousand 27 million pesos, 32.1% of the total for the system, consolidating itself as the largest bank in the country.

Second place went to Banorte with 31 thousand 532 million pesos, 14.9% of the system, an institution that, although it has been growing and increasing its operations, managed just under half that of the Spanish bank. Third place in net profit generation was Santander, with 23 thousand 907 million pesos, which represented 11.3% of the total. The four banks that led the table concentrated 66.5% of the total profit.

also read: Banxico foresees a decrease in the outlook for inflation in the short term in Mexico

Source link

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
3,703FollowersFollow
0SubscribersSubscribe

Latest Articles