BBVA Bancomer has positive results in the first half

In the first half of this year, the Grupo Financiero BBVA Bancomer reached profits for more than 26 thousand 73 million pesos, which meant increase of 12.4% compared to what was reported in the first half of the previous year.

According to the report sent to the Mexican Stock Exchange (BMV) this Friday, of the Group's total net profit from January to June, the subsidiary bank of the same name (BBVA Bancomer) contributed with more than 23 thousand 51 million pesos amount that was 16 percent higher than the gains recorded in the same period of 2017.

The biggest profit of the banking subsidiary was, according to the document, the increase in the financial margin by stimulating the activity of the main unit, as well as larger commissions and positive elements that offset the increase in preventive estimates of credit risk and administrative and operating expenses.

In addition to the general half-yearly profitability of the largest bank in Mexico, which was related to the dynamism of financial activity since the loan portfolio at the close of the sixth month of the year was a billion 125 000 391 million pesos a balance that implied an interannual expansion of 9.6%.

In the total portfolio, commercial credit maintained an annual advance of 12.5% ​​over the previous June, while the consumption and housing portfolio grew by 5.1% and 6%. , 6% respectively.

He reported that in the consumer section, payroll, personal and motor loans showed an annualized increase to the previous June of 6.9%, while credit increased by 2.5 percent.

With positive figures in the balance sheet and credit BBVA Bancomer pointed out in his report that strict risk management had allowed him to reduce the default rate by 32 basis points. the portfolio as the late borrowing rate was set at 1.9 percent at the end of the first half of this year.

With regard to the bank deposit which includes demand deposits and term deposits, it recorded an increase of 12.4% each year.

capitalization was 14.75%, level at which they fully comply with the solvency requirement required by the country's financial authorities at any institution, as well as the mandatory average when it is considered as an entity of systemic importance classification IV