At the end of September 2021, the total portfolio (including pure leasing operations) of the Credit Union for Public Accounting (UniCCo) it amounts to 3,558 million pesos, which represents a nominal growth of 6.5% compared to the same period of the previous year. The foregoing reflects the institutional support for the recovery of the country’s economic dynamism, as was considered by Luis Morales Robles, CEO of Grupo UniCCo.
In virtual interview with The Economist, Morales explained that the entity he represents maintains the quality of its assets, with a delinquency rate (IMOR) below 1.0%, being one of the lowest in the industry and comparing very favorably with SME loans granted by commercial banks.
“In the coverage index (ICOR) we registered a 120.8% advance, showing the shielding of the provisions made prudently as a consequence of the pandemic.”
The capitalization ratio (ICAP) It stands at 15.3%, being one of the best capitalized credit unions in the system, taking into consideration that it is one of the five largest by asset size. “In this context, our UC widely exceeds the minimum capitalization requirement of 8% established by the National Banking and Securities Commission (CNBV),” said the manager.
Perspectives
Luis Morales considered that in 2021, UniCCo is having an important comeback. “Our loan portfolio is growing in the order of 20% measured year after year to September data, last year we grew 3 percent.
UniCCo supports the service sector (mostly professional services from the different branches that finance this activity throughout the country), where they have their expertise, the commercial sector gradually, the industrial sector and recently, the agro-industrial sector from the discount of Trusts Established in Relation to Agriculture (FIRA).
“In the current year, we will multiply the growth of our portfolio by various strategies that we put in place and that with hard data, we can show that we are having this upward capacity.”
He added that the balance sheet data are strong, since they have excellent liquidity, adequate solvency and an asset quality manifested by a delinquency rate that is below 1.5 percent.
“As part of the commercial strategy, our UC plans to register a double-digit increase in its loan portfolio through financing directed at various sectors and with the support of a diversified funding, made up of a historical stability of partner loans and credit lines. credit from commercial and development banks ”, Morales mentioned.
UniCCo has been able to expand the amount and number of authorized institutional credit lines, contrary to the abrupt contraction suffered by other non-bank financial intermediaries. “Stocks and investments in securities maintain an adequate liquidity position by representing 23.2% of total liabilities.”
Derived from these indicators of financial soundness, various agencies have ratified the rating of the Credit Union for Public Accounting with investment grade, all with a stable outlook, the last revision being on September 29, 2021.
Challenges in 2022
Morales said the fundamental challenge is to return to the results they had prior to the Covid-19 pandemic. “We maintained solid structures and a series of short-term tactics that allowed the balance sheet to remain strong, however, the imminent challenge is to return to the results that we were used to from a return to capital. We estimate that the double-digit ROE will be seen in the second half of 2022, while maintaining the levels of solvency, growth and presence in different areas of the country ”.
“We are not an entity with large margins, we bet on volume and credit quality, we understand the relationship between risk and rate, in such a way that a loan portfolio with better risk will affect a lower rate,” concluded Morales Robles.
Reference-www.eleconomista.com.mx