Overview
- BanBajío posted Q3 net income of 2,267 million pesos, down 10.2% year on year but up 4.7% versus Q2, with revenue down 4.7% to 6,294 million.
- Its total loan book grew 5.4% to 268,199 million pesos and adjusted delinquency stood at 2.5%, while operating and net results beat consensus, according to Bx+.
- Banregio reported a 7% increase in financial margin to 3,905 million pesos as lower interest expenses offset weaker interest income.
- Banregio’s operating and net income declined 4.6% year on year, pressured by a 9.3% rise in reserves, a 12.3% increase in administrative and promotional expenses, and higher taxes.
- Banregio’s loans expanded 9.8% to 188,100 million pesos and its delinquency rate reached 1.6%, up 38 basis points, with analysts noting results lagged market expectations.