Monday, On the Margin
Banks; stats up north; trucking companies; consumer confidence and Mexican stocks.
Banks
On Friday, CNBV updated all major banking statistics for the month of February.
Total assets for commercial banks closed the month of February at $15 trillion pesos (+10% YoY), as total loan portfolios continue to rise at double-digit pace (+13.4% YoY).
Despite the strong performance for the industry’s balance sheet, we saw some deterioration on key profitability indicators as efficiency ratios rose by 83 basis points and return over assets contracted by 9 basis points. Regarding asset quality, NPL adjusted ratios remained flat, but cost of risk came up by 21 basis points on an annual basis.
Here’s the major KPIs for the top 15 banks (ranked by total loans):
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