2017 to be highest profitable year for banks

Despite the volatility, the uncertainty about NAFTA, and the interest rate increase, 2017 seems to be a historic year in terms of profits for banks operating in Mexico
Photo: Sedat Suna/EFE
29/12/2017
14:56
Antonio Hernández
Mexico City
-A +A

From January to November 2017, banks operating in Mexico accumulated MXN$ 124 billion in profit, 27.8% higher than last year, reported the National Banking and Securities Commission (CNBV).

Despite the volatility, the uncertainty about North American Free Trade Agreement (NAFTA), and the interest rate increase, 2017 appears to be a historic year in terms of profits for banks operating in Mexico.

The loan portfolio presented an increase of 8.9% compared to November 2016, reaching a balance of MXN$4.658 billion.

According to CNBV, the annual increases were 9% in the commercial portfolio, 8.5% in consumption, and 8.7% in housing.

The delinquency rate (IMOR) of the credit card portfolio stood at 5.52%, a 0.38% increase compared to 2016; while personal loans presented an IMOR of 6.06%, 0.75% higher than November 2016.

Thus, credit card interest presented a 16.12% increase.

sg

Mantente al día con el boletín de El Universal