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Key financial data

Income Statement

Millions of MXN1Q2420232022
Total revenue745
2,6912,526
Interest income7332,6102,113
Interest expense(595)(2,194)(1,751)
Financial margin150497775
Allowance for loan losses (30)(453)(218)
Adjusted financial margin12144557
Income before taxes 43(361)539
Net income15(16)361

Balance Sheet

Millions of MXN1Q2420232022
Cash1,0251,0991,763
Total Loan Portfolio15,55916,17117,151
Total assets17,42518,19420,584
Financial debt13,05813,81415,947
Total liabilities14,93015,72717,793
Total stockholders'equity2,4952,4672,791

Growth and Profitability

%1Q24
Total revenue growth(0.3%)
Interest income growth1.1%
Financial margin(29.2%)
Net income(59.0%)
Portfolio growth(8.9%)

Financial Ratios
1Q2420232022
MIN (1)(3.9%)(3.0%)10.5%
ROAA (2)0.1%(0.1%)1.9%
ROAE (3)0.6%(0.6%)14.7%
Debt to equity ratio(4)5.23x5.60x5.71x
Average cost of funds13.4%13.3%12.4%
Efficiency ratio (6)62.0%52.5%35.5%
Capitalization ratio over portfolio (7)16.5%15.7%17.4%
Capitalization ratio over assets (8)14.7%13.9%14.3%
Allowance for loan losses as a percentage of total past-due loan portfolio 154.3%152.8%108.2%
Total past-due loan portfolio as a percentage of total gross loan portfolio3.9%3.8%3.0%
(1) NIM is calculated dividing the financial margin annualized (including commercial margin) / Total loan portfolio (2) Return on average total assets consists of net income divided by average total assets (3) Return on average stockholders’ equity consists of net income divided by average stockholders’ equity (4) Debt to equity ratio consists of total financial debt at the end of the period divided by total stockholders’ equity at the end of the period (5)Average interest income rate (total portfolio) consists of interest income plus other operating income divided by the average total loan portfolio amounts (6)Efficiency ratio consists of the sum of administrative expenses, fee expense and brokerage expense for the period divided by the sum of fee and other operating income and the difference between interest income and interest expense for the period (7) Capitalization ratio over portfolio consists of total stockholders’ equity at the end of the period divided by total gross loan portfolio less sundry creditors for collateral received cash at the end of the period (8) Capitalization ratio over total assets consists of total stockholders’ equity at the end of the period divided by total assets less sundry creditors for collateral received cash at the end of the period