In 2023, Banco del Bienestar obtained profits of 412 million pesos, a figure 50.7 percent lower in nominal terms compared to the 836 million reported in 2022, according to the most recent financial results.
The institution’s expenses totaled 9,511 million pesos, an increase of 72 percent when compared to the 5,527 million pesos reported between January and December 2022.
The report indicates that of that total, 2,283 million, 24 percent, were allocated to technology issues; 18 percent or 1,673 million were remunerations; 16 percent, 1,481 million, were allocated to surveillance and security systems, while 852 million pesos or 9 percent were distributed to administration and promotion expenses.
Lists, 2,750 branches
720 million pesos, 8 percent, were allocated for the transfer of values; 717 million were spent on taxes and duties, and 580 million on fees. The remaining amount is divided into various expenses.
At the end of February, Banco del Bienestar announced that it had already completed the construction of 2,750 new branches, one of the goals set at the beginning of this government. In an interview, its general director, Víctor Lamoyi, explained that the institution operates on a non-profit basis and only has the objective of helping the population to have financial services.
The results report presented by the institution indicates that it is a financial entity that does not grant loans, which is why it does not present a current or expired portfolio.
Income from commissions and fees grows
The financial margin (which is the difference between interest collected and paid) doubled. In 2023 it stood at an amount of 4,399 million pesos, while in 2022 the figure was 1,958 million pesos.
The above is the result of the difference between the interest collected, 11,897 million pesos, and the interest expenses, which were 7,498 million.
Through the concept of net commissions and fees, Banco del Bienestar obtained income that reached 14,054 million pesos, an increase of 26 percent when compared to the 3,199 million reported in 2022.