BBVA Mexico recorded a profit of 17,800 million pesos in the first quarter of 2022which represented a growth of 60.3% compared to the same period in 2021.
Eduardo Osuna, Vice President and General Director of BBVA Mexicoexplained at a press conference, that this was due to higher recurring income, lower provisions and controlled spending that, however, contemplates strong investments for this year of more than 5,700 million pesos.
In this way, the contribution of Mexico to the profit of the Spanish group remained at around 40% at the beginning of 2022, although it also increased in other markets.
Portfolio, with growth
The bank’s credit portfolio registered a growth of 8.7% compared to the first quarter of 2021, and reached a balance of 1.33 billion pesos.
Inside, the credit destined to families (which includes cards, consumption, automobile and mortgages) registered a balance of 590,000 million pesos, a growth of 10.4% in the period; while that of companies increased 8.7% for a total of 540,000 million; and in government, the rise was 2.2% and a balance of 177,000 million.
Director of BBVA Mexico He highlighted that there is already a significant recovery in segments such as credit cards, consumption, and small and medium-sized enterprises (SMEs).
During the first quarter of 2022, 400,000 new credit cards were placed, representing an annual growth of 54.1%. For their part, new consumer loans and new financing for housing register double-digit annual growth,” he detailed.
As for non-performing loans, this stood at 2.0% in the first quarter of 2022, with a past due portfolio coverage of 163.2%.
Their Capital Index (ICAP) stood at 19.6%; and the Liquidity Coverage Ratio (CCL) at 234.30% in the period.
Funding exceeded 2 billion pesos
And in terms of deposits, BBVA Mexico reached a balance of 2.1 trillion pesos, which represented a growth of 10.9% compared to the first quarter of 2021. Inside, a 16.5% increase in deposits to the view; and a decrease of 6.5% in terms.