BBVA’s loan portfolio grows 11.2% at the end of June. “We are the largest Fintech in the country”, Osuna.

2023-07-29 07:17:04

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For BBVA Mexico, the worst of the crisis due to the increase in rates to control inflation is over and the credit cycle in the country is beginning to stabilize. In addition, the bank observes that the economy is growing more than expected.

In a press conference, the general director of the bank, Eduardo Osuna Osuna, assured that, with more than 29 million clients, the banking institution observes that the market to which it offers services is taking care of the quality of its credit file, its level of payment and compliance, which has been reflected in good quarterly results.

The CEO of BBVA also added that this bank has granted more than 600 billion pesos to companies in the country.

BBVA Mexico announced that during the last 12 months its credit portfolio grew by more than 157 billion pesos. Likewise, it reported that the total credit portfolio exceeded 1.5 trillion pesos, equivalent to an annual growth of 11.2%, an increase that is supported by the good performance of the portfolios linked to households and families, as well as the greater dynamism of the SME segment.

Osuna assured that BBVA is consolidating as the largest “Fintech” in the country given that more than 70% of credit origination is carried out through digital platforms.

According to the quarterly report, the granting of credit to companies registered a balance of 637 billion pesos, 10.5% higher than June 2022. The SME segment stands out with growth that remains firm at 20.8%.

With its “Banco de Barrio” initiative, BBVA Mexico promotes the financial inclusion of SMEs and encourages small businesses to have opportunities for growth through credit and customized banking products. With this, the number of customers served has increased by 249 thousand since 2020 and more than 160 thousand new point of sale terminals (POS) have been installed and more than 562 thousand payrolls have been attracted.

Consumer loans (payroll, auto and personal) register a balance of 230 billion pesos at the end of June 2023. These segments have shown great dynamism, driven by the strength of the labor market and the improvement in real wages. As a reflection of the above, BBVA Mexico has placed more than 1.5 million new loans as of June 2023, 11.1% more than in the same period of 2022.

Another notable segment is credit cards, where a favorable evolution persisted at the end of June of this year, with the placement of more than 1.2 million new cards, 30.6% more than the same period of the previous year. Likewise, it reports a higher level of billing, with an increase of 28% higher than June 2022.

The bank reported that the amount of the mortgage loan totaled 316,598 million pesos, 9.3% more than June 2022. Between June 2022 and June 2023, 15,000 new mortgages were signed.