The bank registered a high generation of profits during the six-year term of President Andrés Manuel López Obrador (2018-2024). Despite the impact of covidthese institutions were the most resilient and fastest growing in the post-pandemic.
At the beginning of sexenniumIn 2018, the bank recorded profits of 157 thousand 56 million pesos; in contrast, At the end of 2023, it reached 273 thousand 314 million, an increase of 74.02 percent.
El 2020 was the only year in which the benefits of banks they contracted due to the impact of more than 102 billion pesos on the pandemicaccording to data from the National Banking and Securities Commission (CNBV) and due to the changes in its regulation by the Ministry of Tax authoritieswhich allowed them to record defaults up to six months later and asked them to create additional reserves, but the following year they rebounded, when they returned the reserves to their profits.
On more than one occasion the President he stressed that Banking income went hand in hand with growth and stability economic.
“In 2023, bankers made record profits for more than 272 billion pesos, 73 percent more than in 2018, and the Stock Market index Mexican Securities it grew 25 percent,” the president said in his latest report.
Julio Carranza, president of the Association of Banks of Mexico (ABM), said that the income of the banking system is not extraordinary and that it is largely due to the outgoing administration. He President “He said there would be no rule changes and it has been fully complied with,” he said in the 87th. Banking Convention.
If banking income is compared by six-year period, in the current They accumulated one trillion 115 thousand 271 million pesos at the end of 2023compared to 626 thousand 898 million added between 2012 and 2018, a difference of 77.90 percent more than with Enrique Pena Nieto.
Last year the banks with the highest profits were BBVAwith 87 thousand 612 million pesos, followed by Banortewith 45 billion and Santander with 29 billion in profits.
Another factor that influenced the last two years were the high levels of interest rates.
After three years of increases that raised rates from 4.5 to 11 percent, last March, Bank of Mexico reduced rates by 25 basis pointsand last week he repeated the dose, leaving them at 10.5 percent.
“Profits cannot continue to grow all the time, but The banks remain very committed to continuing to support growth in Mexico“, indicated Felipe García Ascencio, general director of Santander México
Credit placement
The ABM also highlighted the increase in six years in the credit portfoliowhat banking lends to companies, people and government.
The placement in the private segment from 2018 to the end of 2033 totaled 6.8 billion pesos. At the beginning of the six-year term they had a portfolio of 5.2 billion, an increase of 30.76 percent.
Carranza indicated that The bank has to lend 1.2 billion pesoswhich reflects its strengthening in the last six years.
Wellbeing, the badge
One of the priority projects of the President was the creation of Welfare Bankwhich since its institutionalization in 2019 reached 3,149 branches.
In the sixth report of Government details that he had an investment in 2023 for 1,931 million pesos and since its creation it accumulated more than 15 billion.
“It is the institution with the most coverage of the country. It disperses 750 billion pesos annually and benefits 27 million Mexicans,” he commented.
AKMD
