In the Mexican financial sector last year it was contrasts, because while private banking was consolidated in terms of earnings, development banks reported losses for 2,57 million pesos, according to recent figures from the National Banking Commission and values (CNBV).
The losses in the development bank – government institutions whose main objective is to support the projects that encourage economic and social development – were presented after 2023 reported profits for 1,459 million pesos.
The sector is formed by six institutions: National Bank of Foreign Trade (Banomext), National Bank of Public Works and Services (Banobras), National Financial (NAFIN), National Army Bank, Air Force and Navy (Banjercito), Bank of Welfare and Federal Mortgage Society (SHF).
While there were institutions that reported profits throughout 2024, others had losses, which caused the joint result to be a drop in profits, according to the official in-training.
The figures
The institutions that reported losses throughout 2024 were Nafin and Bancomxt, with a drop in the profits of 6,428 million and 3 thousand 983 million pesos, respectively.
Contrary to the above, Banobras reported that the profits for 2024 were 1,840 million pesos, which implied a remarkable increase of 897 percent, compared to 177 million it had during 2023.
The regulator data indicates that Banjercito obtained profits for 4 thousand 122 million pesos, a 62 percent lower figure compared to 10,442 million registered in 2023.
In the case of the Welfare Bank, the only institution in the sector that does not offer financing, since it only focuses on the dispersion of resources of social programs and other activities such as the remittance service, generated profits for 44 million pesos, a figure 89 percent lower compared to the 412 million reported in 2023.
On the other hand, in the SHF the profits amounted to 2,348 million pesos, which represented an increase of 1.7 percent over the 2 thousand 215 million pesos reported throughout 2023.
Margin and wallet
The balance of the total credit portfolio of these institutions, also called Development, ended last year with a billion 303 thousand 392 million pesos, amount 6.9 percent higher compared to what was reported in 2023, which was one billion 169 thousand 713 Millions of pesos.
The balance of the credit portfolio of the development bank is the equivalent of 17 percent of the total multiple bank portfolio, which concluded 2024 with 7 billion 659 thousand 432 million pesos, and the growth rate was 1.2 percentage points lower lower Regarding that reported by private, 8.1 percent.
The growth already expressed in this note are in real terms, that is, they include the inflation of the period.