The current credit portfolio in the country closed the second quarter with a balance of almost 1.8 trillion pesos, which represented an annual growth of 13%.
Greater activity in the consumer segments and more transactionality boosted BBVA México's profit in the first half of 2024, reaching 52,577 million pesos, 2% more compared to the same period in 2023, when the profit was 51,540 million .
In the second quarter of 2024 alone, the result was 27,078 million pesos.
At a global level, BBVA - which is in the midst of the hostile Takeover Offer (OPA) process by its Spanish competitor Banco Sabadell - obtained a profit in the first half of the year of 4,994 million euros, which represented 28.8% more in its annual comparison. To this result, Mexico contributed just over 50%, followed by Spain with 32.3 percent.
Group objectives will be met
“We have an exciting future before us. We are going to largely meet the ambitious objectives that we set for the period 2021-2024. Furthermore, we fully trust in the success of the union with Banco Sabadell, which will give rise to a stronger and more profitable entity, with greater capacity to accompany families and companies in their future projects,” said Onur Genç, CEO of BBVA. .
According to the Spanish group, the closing of the takeover bid is expected to be completed within an approximate period of between six and eight months from the date of the announcement (May).
Portfolio grew 13%
In the case of BBVA Mexico - which remains the group's main market - the current credit portfolio closed the second quarter with a balance of almost 1.8 trillion pesos, which represented an annual growth of 13% or 200,000 million more.
The portfolio destined for companies grew by almost 13% in the period to reach a balance of 958,000 million pesos.
Meanwhile, the portfolio destined for individuals and families showed an increase of 13.3%, achieving a balance of 795,000 million pesos.
Within the latter, the credit card segment grew 17.2%, non-revolving credit (other consumer) 16.2%, and housing 9.3 percent.
This increase is supported by the dynamism of all portfolios, both those linked to households and families, as well as those of the business and corporate segments,” BBVA México highlighted.
At the end of June, the institution's Delinquency Rate (IMOR) stood at 1.6 percent.
Increase in uptake
Regarding deposits (sight deposits plus term deposits), this showed an annual growth of 8.4%, to reach more than 1.6 trillion pesos, composed of 85% demand deposits and 15% term deposits.
At the end of the second quarter, the financial institution reached 31.5 million clients, of which 23.7 million are mobile, which means 75.1% of the total.
