Mexican Banks' H1 2026 Profits Fall 5.4%

Overview

• The Comisión Nacional Bancaria y de Valores reported that banks earned 149,120 million pesos in the first half of 2026, a real decline of about 5.39% versus the same period in 2025.
• Net interest income fell as Banco de México's reference rate eased to 6.50% from a peak near 11.25% in 2023–early 2024, reducing banks' interest margins.
• Banks raised preventive provisions for credit risk to roughly 124,188 million pesos in H1 2026, an increase of about 20.9% year‑on‑year that drained part of profits.
• Profit results were concentrated and mixed across the largest lenders: the top eight banks made about 84–85% of sector profits with BBVA down 5.6% and Banorte, Santander, Banamex and Scotiabank showing gains while others fell.
• Analysts and the regulator say the figures reflect deliberate reserve‑building rather than a systemic crisis and warn that tighter underwriting will likely slow commercial and household credit growth.