Gentera and BanBajio reported on Wednesday a strong recovery in their profit for the third quarter of 2021, after the impact of the crisis due to the Covid-19 pandemic.
Gentera, whose main asset is Let’s share Bank, recorded a profit of 657 million pesos for the third quarter, which represented a strong recovery compared to the loss of 1,983 million in the same period of 2020. This represented a net recovery of 2,640 million pesos.
And it is that the institution reached a total portfolio balance (including its businesses in Mexico and Peru) of 40,416 million pesos, while its past due portfolio also already shows an important recovery, reaching 3% when last year it reached 7%. hundred.
“Gentera closed the third quarter with great dynamism, showing significant progress compared to the previous year, driven by the increase in economic activities,” said Enrique Majós, general director of the group.
He added: “Gentera has continued to adapt and update itself to the new normal, being consistent with its long-term strategy and at the same time, providing quality services to the consumers it serves.”
In the accumulated for the first nine months of the year, Gentera’s profit reached 1,688 million pesos, against a loss of 1,926 million in the same period of 2020.
BanBajío had a profit of 1,250 million pesos
While, BanBajio reported that its consolidated net profit for the third quarter of 2021 was 1,250 million pesos, 64.7% higher than that reported in the same period of 2020, when it was 759 million.
The accumulated consolidated net profit at the end of September amounted to 3,265 million, 20.8% more than in the ninth month of 2020, when it stood at 2,702 million.
For its part, the loan portfolio of this bank registered an increase of 2.5%, to reach 195,974 million pesos. Default was 1.16 percent.