• Historical Database

Balance Sheet (MXN Mn) 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Assets:
Cash and cash equivalents 1,180.9 1,106.3 810.6 315.8 120.8 53.8 126.9 85.2 64.3 30.8 12.9
Investments in securities 1,294.4 410.3 529.8 992.7 543.3 1,251.2 646.2 346.8 253.6 445.0 253.3
Securities and derivatives transactions 0.0 1,028.0 1,920.9 2,466.9 2,112.8 950.3 230.1 241.5 521.4 25.7 0.0
Total performing loan portfolio 46,325.7 35,701.6 28,409.8 23,410.0 17,193.6 13,544.3 10,265.0 6,625.6 5,403.1 3,609.8 3,321.8
Total non-performing loan portfolio 632.7 617.6 605.2 517.0 416.1 260.6 158.5 106.9 109.0 126.0 69.1
Loan portfolio 46,958.4 36,319.1 29,015.0 23,927.0 17,609.6 13,804.9 10,423.5 6,732.5 5,512.2 3,735.8 3,391.0
Allowance for loan losses 1,390.0 (1,067.9) (1,067.5) (767.5) (485.5) (420.1) (203.2) (141.3) (130.5) (126.0) (69.6)
Net loan portfolio 45,568.4 35,251.2 27,947.5 23,159.6 17,124.1 13,384.8 10,220.3 6,591.2 5,381.6 3,609.8 3,321.3
Other accounts receivable (net) 6,769.9 5,378.8 4,629.7 3,577.3 2,258.9 1,156.2 2,390.4 2,504.3 1,574.0 895.8 174.5
Foreclosed assets 10.8 10.5 3.3 28.0
Property, furniture and fixtures 625.3 341.5 342.2 262.1 149.1 85.5 22.9 17.8 14.3 16.1 19.5
Long-term investments in shares 1,273.6 1,193.4 1,265.3 1,057.8 835.6 859.0 786.0 752.5 364.0 - -
Deferred taxes - - 329.8 - - - - - - - -
Other assets 4,841.5 4,842.5 4,128.7 4,055.2 2,850.8 2,174.7 677.2 425.9 179.4 153.7 71.7
Total assets 61,591.7 49,562.5 41,907.7 35,915.4 25,995.5 19,915.5 15,100.0 10,965.3 8,352.7 5,176.9 3,853.2
Liabilities:
Notes payable (securitizations) 1,261.0 1,463.5 1,000.0 2,759.2 3,610.4 2,571.9 3,041.8 1,751.0 1,944.0 592.7 2,590.1
Senior notes payable 24,636.7 17,018.8 13,543.9 14,129.3 7,334.6 6,561.0 2,829.6 2,814.4 3,122.1 2,563.8 0.0
Short-term bank loans 7,597.6 7,359.7 2,927.9 5,051.7 3,490.5 1,120.3 1,950.1 1,562.4 1,053.9 365.0 353.8
Long-term bank loans 8,015.9 4,804.7 6,112.8 2,648.3 3,008.4 3,140.8 2,130.8 719.6 516.0 502.5 20.8
Total bank loans 15,613.5 12,164.4 9,040.6 7,700.1 6,498.9 4,261.1 4,080.9 2,282.0 1,569.9 867.5 374.7
Total debt 41,511.2 30,646.7 23,722.1 24,588.5 17,443.9 13,394.0 9,952.2 6,847.3 6,636.0 4,024.0 2,964.7
Other accounts payable 4,016.5 2,980.2 3,417.2 2,049.5 1,839.1 1,164.3 794.9 521.5 256.3 127.7 77.0
Total liabilities 45,527.8 33,626.9 27,139.4 26,638.0 19,283.0 14,558.3 10,747.1 7,368.9 6,892.3 4,151.7 3,041.8
Stockholders’ equity:
Capital stock 1,852.4 2,067.7 2,122.8 2,110.4 2,108.1 2,135.2 2,016.2 2,017.2 507.4 492.7 490.9
Perpetual notes 4,206.7 4,206.7 4,206.7 - - - - - - - -
Accumulated results from prior years 7,778.3 6,698.8 5,575.5 4,378.6 3,035.2 1,977.7 1,326.1 935.8 537.4 320.6 135.7
Result from valuation of hedging instruments (708.2) 128.6 359.7 229.4 89.3 5.5 7.0 29.3 - - -
Cumulative translation adjustment 5.5 (30.1) 93.7 167.6 - - - - - - -
Controlling position in subsidiaries 949.1 908.5 748.9 677.2 108.6 14.0 - - - - -
Net income 1,980.1 1,955.4 1,661.1 1,714.0 1,371.4 1,224.8 1,003.6 614.1 415.5 211.9 184.9
Total Stockholders’ equity 16,063.9 15,935.6 14,768.4 9,277.3 6,712.5 5,357.2 4,352.9 3,596.4 1,460.4 1,025.2 811.5
Total liabilities and stockholders’ equity 61,591.7 49,562.5 41,907.7 35,915.4 25,995.5 19,915.5 15,100.0 10,965.3 8,352.7 5,176.9 3,853.2
Balance Sheet (USD Mn) 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Assets:
Cash and cash equivalents 62.6 56.3 41.2 15.3 7.0 3.6 9.7 6.6 4.6 2.5 1.0
Investments in securities 68.6 20.9 26.9 48.1 31.5 84.9 49.4 26.7 18.2 36.0 19.4
Securities and derivatives transactions 0.0 52.3 97.7 119.6 122.5 64.5 17.6 18.6 37.4 2.1 0.0
Total performing loan portfolio 2,455.7 1,816.8 1,444.8 1,135.3 996.8 918.8 784.5 511.0 387.4 292.3 254.2
Total non-performing loan portfolio 33.5 31.4 30.8 25.1 24.1 17.7 12.1 8.2 7.8 10.2 5.3
Loan portfolio 2,489.3 1,848.2 1,475.6 1,160.4 1,020.9 936.5 796.6 519.3 395.2 302.5 259.5
Allowance for loan losses 73.7 (54.3) (54.3) (37.2) (28.1) (28.5) (15.5) (10.9) (9.4) (10.2) (5.3)
Net loan portfolio 2,415.6 1,793.8 1,421.3 1,123.2 992.8 908.0 781.1 508.4 385.8 292.3 254.2
Other accounts receivable (net) 360.3 273.7 235.5 173.5 131.0 78.4 182.7 193.1 112.9 72.5 13.4
Foreclosed assets 0.6 0.5 0.2 1.4
Property, furniture and fixtures 33.1 17.4 17.4 12.7 8.6 5.8 1.8 1.4 1.0 1.3 1.5
Long-term investments in shares 67.5 60.7 64.4 51.3 48.4 58.3 60.1 58.0 26.1 - -
Deferred taxes - - 16.8 - - - - - - - -
Other assets 256.7 246.4 210.0 196.7 165.3 147.5 51.8 32.8 12.9 12.4 5.5
Total assets 3,265.0 2,522.1 2,131.3 1,741.8 1,507.1 1,351.0 1,154.1 845.7 598.9 419.2 294.9
Liabilities:
Notes payable (securitizations) 66.8 74.5 50.9 133.8 209.3 174.5 232.5 135.0 139.4 48.0 198.2
Senior notes payable 1,306.0 866.0 688.8 685.2 425.2 445.1 216.3 217.1 223.8 207.6 0.0
Short-term bank loans 402.8 374.5 148.9 245.0 202.4 76.0 149.0 120.5 75.6 29.6 27.1
Long-term bank loans 424.9 244.5 310.9 128.4 174.4 213.1 162.9 55.5 37.0 40.7 1.6
Total bank loans 827.7 619.0 459.8 373.4 376.8 289.1 311.9 176.0 112.6 70.2 28.7
Total debt 2,200.5 1,559.5 1,206.4 1,192.5 1,011.3 908.6 760.6 528.1 475.8 325.8 226.9
Other accounts payable 212.9 151.7 173.8 99.4 106.6 79.0 60.8 40.2 18.4 10.3 5.9
Total liabilities 2,413.4 1,711.2 1,380.2 1,291.9 1,117.9 987.6 821.4 568.3 494.2 336.2 232.8
Stockholders’ equity:
Capital stock 98.2 105.2 108.0 102.4 122.2 144.8 154.1 155.6 36.4 39.9 37.6
Perpetual notes 223.0 214.1 213.9 - - - - - - - -
Accumulated results from prior years 412.3 340.9 283.6 212.4 176.0 134.2 101.4 72.2 38.5 26.0 10.4
Result from valuation of hedging instruments (37.5) 6.5 18.3 11.1 5.2 0.4 0.5 2.3 - - -
Cumulative translation adjustment 0.3 (1.5) 4.8 8.1 - - - - - - -
Controlling position in subsidiaries 50.3 46.2 38.1 32.8 6.3 0.9 - - - - -
Net income 105.0 99.5 84.5 83.1 79.5 83.1 76.7 47.4 29.8 17.2 14.1
Total Stockholders’ equity 851.6 810.9 751.1 449.9 389.2 363.4 332.7 277.4 104.7 83.0 62.1
Total liabilities and stockholders’ equity 3,265.0 2,522.1 2,131.3 1,741.8 1,507.1 1,351.0 1,154.1 845.7 598.9 419.2 294.9

Income Statement
(MXN Mn)
2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Interest income 11,933.0 10,201.1 8,557.3 6,958.2 4,264.2 3,327.1 2,724.5 2,090.4 1,912.3 1,211.4 959.6
Interest expense (4,671.1) (3,120.9) (2,726.1) (1,916.4) (952.3) (882.2) (723.1) (654.8) (612.8) (384.1) (253.8)
Financial margin 7,261.9 7,080.2 5,831.3 5,041.8 3,311.9 2,444.9 2,001.4 1,435.6 1,299.5 827.3 705.8
Provision for loan losses (1,306.6) (1,540.3) (1,343.1) (831.6) (345.6) (264.6) (404.5) (272.8) (309.0) (226.8) (146.3)
Adjusted financial margin 5,955.2 5,539.9 4,488.1 4,210.2 2,966.3 2,180.3 1,596.9 1,162.8 990.5 600.5 559.5
Commissions and fees collected 515.7 564.1 826.4 539.6 - - - - - - -
Commissions and fees paid (373.4) (256.0) (234.6) (283.4) (142.2) (99.1) (69.7) (69.5) (61.3) (91.4) (89.3)
Intermediation income 156.2 (20.8) 152.9 375.8 - - - - - - -
Other income from operations 126.6 164.7 350.2 267.3 36.2 23.7 10.1 20.6 18.1 19.9 24.1
Administrative and promotion expenses (3,607.0) (3,483.1) (3,417.5) (2,922.0) (1,138.1) (629.6) (484.1) (480.5) (465.6) (313.5) (280.0)
Operating result 2,773.3 2,508.8 2,165.5 2,187.5 1,722.3 1,475.3 1,053.3 633.4 481.7 215.5 214.4
Income taxes (735.9) (650.6) (528.3) (504.4) (421.6) (334.7) (241.6) (144.4) (102.5) (3.7) (29.5)
Income before participation in the results of subsidiaries 2,037.4 1,858.2 1,637.2 1,683.1 1,300.7 1,140.6 811.7 489.1 379.2 211.9 184.9
Participation in the results of subsidiaries, associates and non-controlling participation (57.3) 97.2 177.7 136.1 70.6 84.2 191.9 125.1 36.3 - -
Net income 1,980.1 1,955.4 1,815.0 1,819.2 1,371.4 1,224.8 1,003.6 614.1 415.5 211.9 184.9
Income Statement
(USD Mn)
2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Interest income 632.6 519.1 435.2 337.5 247.2 225.7 208.2 161.2 137.1 98.1 73.4
Interest expense (247.6) (158.8) (138.6) (92.9) (55.2) (59.8) (55.3) (50.5) (43.9) (31.1) (19.4)
Financial margin 385.0 360.3 293.6 244.5 192.0 165.9 153.0 110.7 93.2 67.0 54.0
Provision for loan losses (69.3) (78.4) (68.3) (40.3) (20.0) (17.9) (30.9) (21.0) (22.2) (18.4) (11.2)
Adjusted financial margin 315.7 281.9 228.3 204.2 172.0 147.9 122.0 89.7 71.0 48.6 42.8
Commissions and fees collected 27.3 28.7 42.0 26.2 - - - - - - -
Commissions and fees paid (19.8) (13.0) (11.9) (13.7) (8.2) (6.7) (5.3) (5.4) (4.4) (7.4) (6.8)
Intermediation income 8.3 (1.1) 7.8 18.2 - - - - - - -
Other income from operations 6.7 8.4 17.8 13.0 2.1 1.6 0.8 1.6 1.3 1.6 1.8
Administrative and promotion expenses (191.2) (177.2) (173.8) (141.7) (66.0) (42.7) (37.0) (37.1) (33.4) (25.4) (21.4)
Operating result 147.0 127.7 110.1 106.1 99.9 100.1 80.5 48.9 34.5 17.5 16.4
Income taxes (39.0) (33.1) (26.9) (24.5) (24.4) (22.7) (18.5) (11.1) (7.3) (0.3) (2.3)
Income before participation in the results of subsidiaries 108.0 94.6 83.3 81.6 75.4 77.4 62.0 37.7 27.2 17.2 14.1
Participation in the results of subsidiaries, associates and non-controlling participation (3.0) 4.9 9.0 6.6 4.1 5.7 14.7 9.6 2.6 - -
Net income 105.0 99.5 92.3 88.2 79.5 83.1 76.7 47.4 29.8 17.2 14.1

Financial Ratios 2019 2018 2017 2016 2015 2014 2013 2012 2011
Yield 28.1% 29.9% 32.6% 31.0% 27.1% 25.7% 31.1% 34.2% 38.7%
Net interest margin 17.1% 20.8% 22.2% 22.5% 21.0% 18.8% - - -
Return on average loan portfolio 4.7% 5.7% 6.3% 5.7% 8.7% 9.3% 11.5% 10.0% 8.4%
ROAA 3.6% 4.2% 4.5% 4.2% 6.0% 6.6% - - -
ROAE 12.3% 12.9% 15.9% 20.2% 22.2% 24.1% 24.5% 27.9% 33.3%
ROAE (excluding perpetual notes) 16.6% 17.8% 17.6% - - - - - -
Debt to equity ratio 2.6 1.9 1.6 2.7 2.6 2.5 2.3 1.9 4.5
Debt to equity ratio (excluding perpetual notes) 3.5 2.6 2.2 - - - - - -
Average cost of funds 12.8% 11.1% 11.6% 8.2% 6.3% 7.4% 8.7% 9.5% 10.7%
Efficiency ratio 41.8% 42.4% 49.7% 51.7% 35.9% 27.6% 25.1% 35.2% 37.6%
Capitalization ratio 34.2% 43.9% 50.9% 38.8% 38.1% 38.5% 41.8% 53.4% 26.5%
Capitalization ratio (excluding perpetual notes) 25.3% 32.3% 36.4% - - - - - -
Allowances for loan losses as a percentage of total loan portfolio 2.8% 4.2% 4.6% 3.5% 2.0% 1.9% 3.9% 4.1% 5.6%
Allowances for loan losses as percentage of total past-due loan portfolio 219.7% 172.9% 176.4% 148.4% 116.7% 161.2% 128.2% 132.2% 119.7%
Total past-due loan portfolio as a percentage of total loan portfolio 1.3% 1.7% 2.1% 2.2% 2.4% 1.9% 1.5% 1.6% 2.0%
Financial Ratios 2019 2018 2017 2016 2015 2014 2013 2012 2011
Yield 28.1% 29.9% 32.6% 31.0% 27.1% 25.7% 31.1% 34.2% 38.7%
Net interest margin 17.1% 20.8% 22.2% 22.5% 21.0% 18.8% - - -
Return on average loan portfolio 4.7% 5.7% 6.3% 5.7% 8.7% 9.3% 11.5% 10.0% 8.4%
ROAA 3.6% 4.2% 4.5% 4.2% 6.0% 6.6% - - -
ROAE 12.3% 12.9% 15.9% 20.2% 22.2% 24.1% 24.5% 27.9% 33.3%
ROAE (excluding perpetual notes) 16.6% 17.8% 17.6% - - - - - -
Debt to equity ratio 2.6 1.9 1.6 2.7 2.6 2.5 2.3 1.9 4.5
Debt to equity ratio (excluding perpetual notes) 3.5 2.6 2.2 - - - - - -
Average cost of funds 12.8% 11.1% 11.6% 8.2% 6.3% 7.4% 8.7% 9.5% 10.7%
Efficiency ratio 41.8% 42.4% 49.7% 51.7% 35.9% 27.6% 25.1% 35.2% 37.6%
Capitalization ratio 34.2% 43.9% 50.9% 38.8% 38.1% 38.5% 41.8% 53.4% 26.5%
Capitalization ratio (excluding perpetual notes) 25.3% 32.3% 36.4% - - - - - -
Allowances for loan losses as a percentage of total loan portfolio 2.8% 4.2% 4.6% 3.5% 2.0% 1.9% 3.9% 4.1% 5.6%
Allowances for loan losses as percentage of total past-due loan portfolio 219.7% 172.9% 176.4% 148.4% 116.7% 161.2% 128.2% 132.2% 119.7%
Total past-due loan portfolio as a percentage of total loan portfolio 1.3% 1.7% 2.1% 2.2% 2.4% 1.9% 1.5% 1.6% 2.0%
Balance Sheet (Ps. million) 3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 1Q18 4Q17 3Q17 2Q17 1Q17 4Q16 3Q16 2Q16 1Q16 4Q15 3Q15 2Q15 1Q15 4Q14 3Q14 2Q14 1Q14 4Q13 3Q13 2Q13 1Q13 4Q12 3Q12 2Q12 1Q12
Assets:
Cash and cash equivalents 399.6 1,129.2 1,919.4 1,180.9 658.2 511.5 410.4 1,106.3 459.7 420.8 345.9 810.6 580.2 732.3 455.6 315.8 524.3 172.3 918.7 120.8 428.5 23.1 93.1 53.8 97.1 162.7 101.8 126.9 81.8 95.5 119.4 85.2 83.2 66.4 68.1
Investments in securities 2,144.3 1,801.1 865.3 1,294.4 258.6 888.1 1,120.6 410.3 997.7 781.8 1,004.6 529.8 740.9 144.6 714.9 992.7 3,204.0 286.4 234.1 543.3 276.5 791.0 772.2 1,251.2 821.6 898.3 2,110.9 646.2 209.4 191.6 362.0 346.8 819.7 153.8 285.7
Securities and derivatives transactions 5,246.8 6,500.7 7,426.0 - 860.1 442.7 83.2 1,028.0 - 1,064.7 776.6 1,920.9 0.0 194.8 276.0 2,466.9 1,504.4 2,725.1 1,901.4 2,112.8 1,938.3 1,488.7 1,180.6 950.3 197.1 40.2 14.7 230.1 320.8 195.5 135.8 241.5 300.4 313.2 257.7
Total performing loan portfolio 47,664.9 46,479.2 48,898.1 46,325.7 42,739.8 40,465.0 37,648.3 35,701.6 34,210.1 33,029.4 30,768.3 28,409.8 26,054.7 24,644.2 23,717.3 23,410.0 22,223.8 21,676.5 20,181.8 17,193.6 15,985.4 14,482.6 13,964.3 13,544.3 13,161.1 12,263.0 10,928.3 10,265.0 9,039.1 8,162.9 7,000.4 6,625.6 6,356.8 5,607.0 5,447.0
Total non-performing loan portfolio 850.4 695.0 765.9 632.7 732.5 619.9 629.1 617.6 736.3 630.7 587.6 605.2 623.2 543.1 516.7 517.0 564.6 516.2 553.6 416.1 331.4 307.7 316.0 260.6 248.1 180.6 166.4 158.5 152.1 135.5 129.1 106.9 89.4 110.5 105.7
Loan portfolio 48,515.3 47,174.2 49,664.0 46,958.4 42,472.4 41,084.9 38,277.4 36,319.1 34,946.4 33,660.1 31,355.9 29,015.0 26,677.9 25,187.2 24,234.1 23,927.0 22,788.5 22,192.7 20,735.4 17,609.6 16,316.8 14,790.3 14,280.3 13,804.9 13,409.2 12,443.6 11,094.7 10,423.5 9,191.2 8,298.4 7,129.6 6,732.5 6,446.2 5,717.5 5,552.7
Allowance for loan losses (1,847.8) (1,708.1) (1,678.3) (1,390.0) (1,310.0) (1,272.0) (1,308.0) (1,067.9) (1,095.2) (1,138.5) (1,076.1) (1,067.5) (982.7) (919.9) (912.5) (767.5) (802.9) (825.6) (803.6) (485.5) (449.6) (391.7) (454.2) (420.1) (414.4) (395.0) (225.7) (203.2) (174.0) (155.9) (138.8) (141.3) (116.1) (135.3) (123.4)
Net loan portfolio 46,667.5 45,466.0 47,985.7 45,568.4 42,162.3 39,812.9 36,969.4 35,251.2 33,851.2 32,521.6 30,279.8 27,947.5 25,695.2 24,267.3 23,321.6 23,159.6 21,985.5 21,367.1 19,931.8 17,124.1 15,867.2 14,398.6 13,826.1 13,384.8 12,994.8 12,048.6 10,869.0 10,220.3 9,017.2 8,142.5 6,990.7 6,591.2 6,330.1 5,582.2 5,429.3
Factoring Loan Portfolio 1,525.4 1,957.1 - 162.8 264.5 237.9 - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Other accounts receivable (net) 7,965.3 7,499.5 7,324.4 6,634.1 6,598.3 5,570.7 5,412.9 5,378.8 5,486.3 4,998.9 4,688.8 4,629.7 3,839.2 3,826.4 3,828.2 3,577.3 3,941.2 3,368.5 3,002.0 2,258.9 1,765.3 1,946.0 1,624.0 1,156.2 1,907.1 1,933.9 2,351.9 2,390.4 2,325.4 2,413.0 2,705.3 2,504.3 1,928.5 1,907.2 1,756.0
Foreclosed assets 32.2 25.6 24.8 10.8 9.5 8.6 18.2 10.4 - - - 3.3 9.7 - - 28.0 - - -
Property, furniture and fixtures 3,307.8 3,511.4 651.3 625.3 733.1 737.6 767.0 341.5 353.0 324.6 327.6 342.2 348.5 248.9 257.1 262.1 257.1 251.0 235.4 149.1 118.5 119.0 75.9 85.5 34.3 29.3 26.4 22.9 21.4 20.2 19.7 17.8 16.5 13.5 14.0
Long-term investments in shares 1,252.5 1,251.5 1,294.5 1,273.6 1,263.3 1,186.7 1,166.0 1,193.4 1,145.1 1,040.5 1,275.9 1,265.3 1,021.0 1,085.4 990.2 1,057.8 907.4 891.2 863.0 835.6 812.4 792.6 827.1 859.0 792.7 767.6 781.9 786.0 762.0 711.6 821.4 752.5 392.0 372.6 382.0
Deferred taxes - - - - - - - - - - - 329.8 - - - - - - - - - - - - - - - - - - - - - - -
Other assets 5,404.8 5,511.5 5,479.0 4,841.5 4,584.4 4,618.7 4,891.5 4,842.5 4,730.8 4,583.3 4,132.8 4,128.7 4,205.7 4,119.1 4,035.2 4,055.2 4,006.3 4,019.3 3,871.7 2,850.8 2,190.8 2,120.3 2,152.6 2,174.7 802.4 819.3 655.9 677.2 592.4 584.8 460.0 425.9 175.9 165.3 164.4
Total assets 73,946.3 74,653.6 72,970.3 61,591.7 57,392.4 54,015.4 50,839.2 49,562.5 47,023.8 45,736.1 42,832.0 41,907.7 36,430.8 34,618.9 33,878.9 35,915.4 36,330.3 33,080.8 30,958.1 25,995.5 23,397.5 21,679.3 20,551.6 19,915.5 17,647.2 16,699.8 16,912.5 15,100.0 13,330.4 12,354.8 11,614.3 10,965.3 10,046.1 8,574.0 8,357.3
Liabilities:
Notes payable (securitizations) 859.9 1,013.5 1,128.0 1,261.0 581.9 1,220.4 1,415.0 1,463.5 850.9 - - 1,000.0 3,463.1 3,007.1 2,554.7 2,759.2 4,407.2 4,935.0 4,385.4 3,610.4 3,009.5 2,911.9 2,777.7 2,571.9 2,014.1 1,713.8 1,760.0 3,041.8 2,775.4 2,360.2 2,188.7 1,751.0 2,310.4 1,689.0 1,844.7
Senior notes payable 30,095.8 31,596.8 31,271.4 24,636.7 22,179.7 21,853.7 21,176.2 17,018.8 15,446.0 17,328.0 18,103.7 13,543.9 11,583.9 11,913.7 11,922.9 14,129.3 13,513.7 7,913.4 6,582.8 7,334.6 7,155.6 6,738.2 6,789.7 6,561.0 5,685.2 5,549.1 5,443.6 2,829.6 2,907.1 2,809.6 2,746.3 2,814.4 2,892.9 2,927.4 2,868.4
Short-term bank loans 12,204.3 9,835.6 8,820.6 7,597.6 8,069.9 8,661.9 5,111.0 7,359.7 6,851.8 6,891.4 1,216.4 2,927.9 3,401.5 56.7 4,749.7 5,051.7 3,414.7 4,897.6 4,676.5 3,490.5 1,096.6 813.5 965.1 1,120.3 2,047.4 2,175.9 2,037.6 1,950.1 1,014.9 1,121.3 1,175.6 1,562.4 1,633.5 1,435.5 1,168.4
Long-term bank loans 9,273.7 10,582.9 9,625.0 8,015.9 6,635.3 3,291.9 3,966.6 4,804.7 4,716.9 3,261.2 4,913.0 6,112.8 6,244.3 8,173.5 3,687.2 2,648.3 3,678.3 5,042.3 5,916.9 3,008.4 4,129.9 3,757.5 2,870.0 3,140.8 1,806.5 1,584.4 2,056.4 2,130.8 1,694.7 1,437.6 1,130.3 719.6 832.0 458.2 571.4
Total bank loans 21,478.0 20,418.5 18,445.6 15,613.5 14,705.1 11,953.7 9,077.6 12,164.4 11,568.7 10,152.7 6,129.4 9,040.6 9,645.8 8,230.2 8,436.9 7,700.1 7,093.0 9,939.8 10,593.4 6,498.9 5,226.5 4,571.0 3,835.1 4,261.1 3,853.9 3,760.3 4,094.0 4,080.9 2,709.6 2,558.9 2,305.9 2,282.0 2,465.5 1,893.7 1,739.9
Total debt 52,433.7 53,028.8 50,845.0 41,511.2 37,466.8 35,027.8 31,668.8 30,646.7 27,865.6 27,480.7 24,233.1 23,722.1 24,692.7 23,151.0 22,914.5 24,588.5 25,013.9 22,788.3 21,561.6 17,443.9 15,391.6 14,221.1 13,402.5 13,394.0 11,553.2 11,023.3 11,297.6 9,952.2 8,392.1 7,728.7 7,240.8 6,847.3 7,668.8 6,510.1 6,452.9
Other accounts payable 3,733.2 3,768.9 2,988.7 4,016.5 3,441.7 3,051.2 3,126.4 2,980.2 3,850.8 3,237.2 4,177.0 3,417.2 2,349.2 2,461.5 2,227.6 2,049.5 2,359.6 2,108.2 1,840.4 1,839.1 1,674.3 1,471.9 1,489.6 1,164.3 1,051.9 918.8 957.0 794.9 673.1 632.0 606.4 521.5 472.2 343.3 308.6
Total liabilities 56,166.9 56,797.7 53,833.7 45,527.8 40,908.5 38,079.1 34,795.2 33,626.9 31,716.3 30,717.9 28,410.0 27,139.4 27,041.9 25,612.5 25,142.1 26,638.0 27,373.5 24,896.5 23,402.0 19,283.0 17,065.9 15,693.0 14,892.1 14,558.3 12,605.2 11,942.1 12,254.6 10,747.1 9,065.2 8,360.7 7,847.2 7,368.9 8,141.0 6,853.4 6,761.6
Stockholders’ equity:
Capital stock 1,731.2 1,738.6 1,786.9 1,852.4 1,845.7 1,845.9 1,845.9 2,067.7 2,142.6 2,123.6 2,131.0 2,122.8 2,130.8 2,074.5 2,102.2 2,110.4 2,114.4 2,114.5 2,113.8 2,108.1 2,109.2 2,110.4 2,135.2 2,135.2 2,056.4 2,033.9 2,006.8 2,016.2 2,017.3 2,015.3 2,016.1 2,017.2 507.4 507.4 507.4
Perpetual notes 4,206.7 4,206.7 4,206.7 4,206.7 4,206.7 4,206.7 4,206.7 4,206.7 4,206.7 4,206.7 4,206.7 4,206.7 - - - - - - - - - - - - - - - - - - - - - - -
Accumulated results from prior years 9,670.3 9,660.2 9,898.1 7,778.3 8,201.9 8,045.5 8,654.1 6,698.8 6,978.1 6,997.1 7,225.0 5,575.5 5,543.9 5,603.0 5,655.5 4,378.6 4,448.4 4,435.7 4,436.9 3,035.2 3,191.4 3,203.8 3,186.7 1,977.7 2,087.1 2,109.1 2,329.7 1,326.1 1,523.0 1,525.6 1,530.6 935.8 952.9 952.9 952.9
Result from valuation of hedging instruments (150.8) (174.7) 937.9 (708.2) (403.7) (226.3) (137.9) 128.6 (161.1) (31.4) (181.1) 359.7 (17.5) 38.8 112.5 229.4 279.5 208.1 107.3 89.3 21.8 4.3 4.5 5.5 8.1 10.5 2.1 7.0 14.8 - 0.6 29.3 7.7 - -
Cumulative translation adjustment 523.4 758.4 825.5 5.5 20.2 (66.4) (85.2) (30.1) (118.3) 12.0 (137.6) 93.7 (109.3) (89.6) (113.6) 167.6 112.3 50.7 (32.5) - - - - - - - - - - - - - - - -
Controlling position in subsidiaries 1,163.0 1,230.0 1,176.3 949.1 1,060.3 1,014.1 935.8 908.5 872.1 828.4 755.3 748.9 618.8 560.5 583.6 677.2 633.4 594.3 524.4 108.6 9.9 9.9 8.9 14.0 11.0 7.1 5.3 - - - - - - - -
Net income 635.7 436.8 305.4 1,980.1 1,552.9 1,116.9 624.6 1,955.4 1,387.3 881.8 422.7 1,661.1 1,222.1 819.1 396.5 1,714.0 1,368.7 781.1 406.2 1,371.4 999.4 657.8 324.2 1,224.8 879.5 597.1 314.0 1,003.6 710.1 453.2 219.8 614.1 437.1 260.3 135.3
Total Stockholders’ equity 17,779.4 17,856.0 19,136.7 16,063.9 16,483.9 15,936.3 16,044.0 15,935.6 15,307.4 15,018.3 14,422.0 14,768.4 9,388.8 9,006.3 8,736.8 9,277.4 8,956.8 8,184.3 7,556.2 6,712.5 6,331.6 5,986.3 5,659.5 5,357.2 5,042.0 4,757.8 4,657.9 4,352.9 4,265.2 3,994.1 3,767.1 3,596.4 1,905.2 1,720.7 1,595.7
Total liabilities and stockholders’ equity 73,946.3 74,653.6 72,970.3 61,591.7 57,392.4 54,015.4 50,839.2 49,562.5 47,023.8 45,736.1 42,832.0 41,907.7 36,430.8 34,618.9 33,878.9 35,915.4 36,330.3 33,080.8 30,958.1 25,995.5 23,397.5 21,679.3 20,551.6 19,915.5 17,647.2 16,699.8 16,912.5 15,100.0 13,330.4 12,354.8 11,614.3 10,965.3 10,046.2 8,574.0 8,357.3
Balance Sheet (USD million) 3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 1Q18 4Q17 3Q17 2Q17 1Q17 4Q16 3Q16 2Q16 1Q16 4Q15 3Q15 2Q15 1Q15 4Q14 3Q14 2Q14 1Q14 4Q13 3Q13 2Q13 1Q13 4Q12 3Q12 2Q12 1Q12
Assets:
Cash and cash equivalents 18.0 48.9 81.7 62.6 33.4 26.0 21.2 56.3 24.6 21.4 18.9 41.2 32.0 40.5 24.2 15.3 27.1 9.3 53.3 7.0 25.3 1.5 6.1 3.6 7.2 12.5 7.8 9.7 6.2 7.3 9.7 6.6 6.5 5.0 5.3
Investments in securities 96.8 78.0 36.8 68.6 13.1 45.2 57.8 20.9 53.3 39.7 55.0 26.9 40.8 8.0 38.0 48.1 165.3 15.5 13.6 31.5 16.4 50.4 50.6 84.9 61.2 69.3 161.7 49.4 15.9 14.7 29.3 26.7 63.7 11.5 22.3
Securities and derivatives transactions 236.9 281.5 316.2 - 43.6 22.5 4.3 52.3 - 54.1 42.5 97.7 0.0 10.8 14.7 119.6 77.6 147.6 110.3 122.5 114.7 94.9 77.3 64.5 14.7 3.1 1.1 17.6 24.3 15.0 11.0 18.6 23.3 23.4 20.1
Total performing loan portfolio 2,152.5 2,013.0 2,082.1 2,455.7 2,165.7 2,059.2 1,942.8 1,816.8 1,827.2 1,677.4 1,684.0 1,444.8 1,434.8 1,364.4 1,261.9 1,135.3 1,146.9 1,173.9 1,170.8 996.8 945.6 923.3 914.8 918.8 979.8 945.4 837.1 784.5 686.1 626.6 566.3 511.0 493.9 418.2 425.2
Total non-performing loan portfolio 38.4 30.1 32.6 33.5 37.1 31.5 32.5 31.4 39.3 32.0 32.2 30.8 34.3 30.1 27.5 25.1 29.1 28.0 32.1 24.1 19.6 19.6 20.7 17.7 18.5 13.9 12.7 12.1 11.5 10.4 10.4 8.2 6.9 8.2 8.3
Loan portfolio 2,190.9 2,043.1 2,114.7 2,489.3 2,202.9 2,090.7 1,975.3 1,848.2 1,866.5 1,709.4 1,716.2 1,475.6 1,469.1 1,394.4 1,289.4 1,160.4 1,176.0 1,201.9 1,203.0 1,020.9 965.2 942.9 935.5 936.5 998.2 959.3 849.8 796.6 697.6 637.0 576.8 519.3 500.9 426.4 433.5
Allowance for loan losses (83.4) (74.0) (71.5) (73.7) (66.4) (64.7) (67.5) (54.3) (58.5) (57.8) (58.9) (54.3) (54.1) (50.9) (48.5) (37.2) (41.4) (44.7) (46.6) (28.1) (26.6) (25.0) (29.8) (28.5) (30.8) (30.5) (17.3) (15.5) (13.2) (12.0) (11.2) (10.9) (9.0) (10.1) (9.6)
Net loan portfolio 2,107.5 1,969.1 2,043.3 2,415.6 2,136.5 2,026.0 1,907.8 1,793.8 1,808.0 1,651.6 1,657.3 1,421.3 1,415.0 1,343.5 1,240.8 1,123.2 1,134.6 1,157.2 1,156.3 992.8 938.6 918.0 905.8 908.0 967.4 928.9 832.6 781.1 684.4 625.0 565.5 508.4 491.9 416.3 423.9
Factoring Loan Portfolio 68.9 84.8 - 8.6 13.4 12.1 - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Other accounts receivable (net) 359.7 324.8 311.9 351.7 334.4 283.5 279.3 273.7 293.0 253.9 256.6 235.5 211.4 211.8 203.7 173.5 203.4 182.4 174.2 131.0 104.4 124.1 106.4 78.4 142.0 149.1 180.2 182.7 176.5 185.2 218.9 193.1 149.9 142.2 137.1
Foreclosed assets 1.5 1.1 1.1 0.6 0.5 0.4 0.9 0.5 - - - 0.2 0.5 - - 1.4 - - -
Property, furniture and fixtures 149.4 152.1 27.7 33.1 37.1 37.5 39.6 17.4 18.9 16.5 17.9 17.4 19.2 13.8 13.7 12.7 13.3 13.6 13.7 8.6 7.0 7.6 5.0 5.8 2.6 2.3 2.0 1.8 1.6 1.6 1.6 1.4 1.3 1.0 1.1
Long-term investments in shares 56.6 54.2 55.1 67.5 64.0 60.4 60.2 60.7 61.2 52.8 69.8 64.4 56.2 60.1 52.7 51.3 46.8 48.3 50.1 48.4 48.1 50.5 54.2 58.3 59.0 59.2 59.9 60.1 57.8 54.6 66.4 58.0 30.5 27.8 29.8
Deferred taxes - - - - - - - - - - - 16.8 - - - - - - - - - - - - - - - - - - - - - - -
Other assets 244.1 238.7 233.3 256.7 232.3 235.0 252.4 246.4 252.7 232.8 226.2 210.0 231.6 228.0 214.7 196.7 206.7 217.7 224.6 165.3 129.6 135.2 141.0 147.5 59.7 63.2 50.2 51.8 45.0 44.9 37.2 32.8 13.7 12.3 12.8
Total assets 3,339.4 3,233.3 3,107.1 3,265.0 2,908.2 2,748.7 2,623.6 2,522.1 2,511.5 2,322.7 2,344.3 2,131.3 2,006.2 1,916.6 1,802.5 1,741.8 1,874.9 1,791.6 1,796.0 1,507.1 1,384.0 1,382.1 1,346.3 1,351.0 1,313.7 1,287.5 1,295.5 1,154.1 1,011.8 948.3 939.6 845.7 780.6 639.4 652.4
Liabilities:
Notes payable (securitizations) 38.8 43.9 48.0 66.8 29.5 62.1 73.0 74.5 45.4 - - 50.9 190.7 166.5 135.9 133.8 227.4 267.3 254.4 209.3 178.0 185.6 182.0 174.5 149.9 132.1 134.8 232.5 210.7 181.2 177.1 135.0 179.5 126.0 144.0
Senior notes payable 1,359.1 1,368.5 1,331.6 1,306.0 1,123.9 1,112.1 1,092.8 866.0 825.0 880.0 990.8 688.8 637.9 659.6 634.3 685.2 697.4 428.6 381.9 425.2 423.3 429.6 444.8 445.1 423.2 427.8 417.0 216.3 220.7 215.7 222.2 217.1 224.8 218.3 223.9
Short-term bank loans 551.1 442.4 375.6 402.8 408.9 440.8 263.8 374.5 366.0 350.0 66.6 148.9 187.3 3.1 252.7 245.0 176.2 265.2 271.3 202.4 64.9 51.9 63.2 76.0 152.4 167.7 156.1 149.0 77.0 86.1 95.1 120.5 126.9 107.1 91.2
Long-term bank loans 418.8 442.0 409.8 424.9 336.2 167.5 204.7 244.5 251.9 165.6 268.9 310.9 343.9 452.5 196.2 128.4 189.8 273.1 343.3 174.4 244.3 239.6 188.0 213.1 134.5 122.1 157.5 162.9 128.6 110.3 91.4 55.5 64.6 34.2 44.6
Total bank loans 969.9 884.3 785.4 827.7 745.1 608.3 468.5 619.0 617.9 515.6 335.5 459.8 531.2 455.6 448.9 373.4 366.0 538.3 614.6 376.8 309.2 291.4 251.2 289.1 286.9 289.9 313.6 311.9 205.7 196.4 186.5 176.0 191.6 141.2 135.8
Total debt 2,367.9 2,296.7 2,165.0 2,200.5 1,898.5 1,782.5 1,634.3 1,559.5 1,488.3 1,395.6 1,326.3 1,206.4 1,359.8 1,281.7 1,219.1 1,192.5 1,290.9 1,234.2 1,250.9 1,011.3 910.5 906.6 878.0 908.6 860.1 849.8 865.4 760.6 637.0 593.2 585.8 528.1 595.9 485.5 503.8
Other accounts payable 168.6 163.3 127.2 212.9 174.3 155.2 161.3 151.7 205.7 164.4 228.6 173.8 129.4 136.3 118.5 99.4 121.8 114.2 106.8 106.6 99.0 93.8 97.6 79.0 78.3 70.8 73.3 60.8 51.1 48.5 49.1 40.2 36.7 25.6 24.1
Total liabilities 2,536.5 2,459.9 2,292.3 2,413.4 2,072.9 1,937.7 1,795.6 1,711.2 1,694.0 1,560.0 1,554.9 1,380.2 1,489.2 1,418.0 1,337.7 1,291.9 1,412.6 1,348.3 1,357.7 1,117.9 1,009.5 1,000.5 975.6 987.6 938.4 920.7 938.7 821.4 688.1 641.8 634.8 568.3 632.6 511.1 527.9
Stockholders’ equity:
Capital stock 78.2 75.3 76.1 98.2 93.5 93.9 95.3 105.2 114.4 107.8 116.6 108.0 117.3 114.4 111.8 102.4 109.1 114.5 122.6 122.2 124.8 134.5 139.9 144.8 153.1 156.8 153.7 154.1 153.1 154.7 163.1 155.6 39.4 37.8 39.6
Perpetual notes 190.0 182.2 179.1 223.0 213.2 214.1 217.1 214.1 224.7 213.6 230.2 213.9 - - - - - - - - - - - - - - - - - - - - - - -
Accumulated results from prior years 436.7 418.4 421.5 412.3 415.6 409.4 446.6 340.9 372.7 355.3 395.4 283.6 305.3 310.2 300.9 212.4 229.6 240.2 257.4 176.0 188.8 204.3 208.8 134.2 155.4 162.6 178.5 101.4 115.6 117.1 123.8 72.2 74.0 71.1 74.4
Result from valuation of hedging instruments (6.8) (7.6) 39.9 (37.5) (20.5) (11.5) (7.1) 6.5 (8.6) (1.6) (9.9) 18.3 (1.0) 2.1 6.0 11.1 14.4 11.3 6.2 5.2 1.3 0.3 0.3 0.4 0.6 0.8 0.2 0.5 1.1 - 0.0 2.3 0.6 - -
Cumulative translation adjustment 23.6 32.8 35.2 0.3 1.0 (3.4) (4.4) (1.5) (6.3) 0.6 (7.5) 4.8 (6.0) (5.0) (6.0) 8.1 5.8 2.7 (1.9) - - - - - - - - - - - - - - - -
Controlling position in subsidiaries 52.5 53.3 50.1 50.3 53.7 51.6 48.3 46.2 46.6 42.1 41.3 38.1 34.1 31.0 31.0 32.8 32.7 32.2 30.4 6.3 0.6 0.6 0.6 0.9 0.8 0.5 0.4 - - - - - - - -
Net income 28.7 18.9 13.0 105.0 78.7 56.8 32.2 99.5 74.1 44.8 23.1 84.5 67.3 45.4 21.1 83.1 70.6 42.3 23.6 79.5 59.1 41.9 21.2 83.1 65.5 46.0 24.1 76.7 53.9 34.8 17.8 47.4 34.0 19.4 10.6
Total Stockholders’ equity 802.9 773.3 814.9 851.6 835.3 811.0 828.0 810.9 817.6 762.7 789.3 751.1 517.0 498.6 464.8 449.9 462.2 443.2 438.4 389.2 374.5 381.6 370.8 363.4 375.3 366.8 356.8 332.7 323.7 306.6 304.8 277.4 148.0 128.3 124.6
Total liabilities and stockholders’ equity 3,339.4 3,233.3 3,107.1 3,265.0 2,908.2 2,748.7 2,623.6 2,522.1 2,511.5 2,322.7 2,344.3 2,131.3 2,006.2 1,916.6 1,802.5 1,741.8 1,874.9 1,791.6 1,796.0 1,507.1 1,384.0 1,382.1 1,346.3 1,351.0 1,313.7 1,287.5 1,295.5 1,154.1 1,011.8 948.3 939.6 845.7 780.6 639.4 652.4
Income Statement
(Ps. million)
3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 1Q18 4Q17 3Q17 2Q17 1Q17 4Q16 3Q16 2Q16 1Q16 4Q15 3Q15 2Q15 1Q15 4Q14 3Q14 2Q14 1Q14 4Q13 3Q13 2Q13 1Q13 4Q12 3Q12 2Q12 1Q12
Interest income 2,523.3 2,399.8 2,692.3 3,293.0 2,950.0 2,859.6 2,830.4 2,735.4 2,562.0 2,593.9 2,309.8 2,394.0 2,065.8 1,987.6 2,015.4 1,839.2 2,125.0 1,654.7 1,339.3 1,245.3 1,099.7 976.2 943.0 995.3 759.6 772.8 799.4 783.5 697.9 630.2 613.0 559.5 530.4 491.9 508.6
Interest expense (1,107.9) (1,181.2) (1,079.9) (1,310.9) (1,195.0) (1,099.3) (1,065.8) (692.0) (833.0) (856.1) (739.8) (766.2) (669.5) 655.4 (599.2) (599.8) (570.9) (422.9) (322.8) (252.1) (235.3) (240.3) (224.6) (218.7) (218.7) (239.0) (205.8) (196.9) (182.5) (174.2) (169.5) (175.6) (166.3) (157.3) (155.6)
Financial margin 1,415.4 1,218.6 1,612.5 1,982.0 1,755.0 1,760.3 1,764.5 2,043.4 1,728.9 1,737.8 1,570.1 1,627.8 1,396.3 1,332.2 1,416.2 1,239.3 1,554.1 1,231.8 1,016.5 993.2 864.4 735.9 718.4 776.6 540.9 533.7 593.6 586.6 515.4 455.9 443.5 383.9 364.1 334.6 353.0
Provision for loan losses (504.4) (404.4) (459.9) (351.3) (364.0) (335.3) (337.1) (383.1) (472.0) (454.8) (421.4) (391.2) (354.9) (281.5) (315.5) 290.1 (286.1) (208.0) (47.5) (110.5) (98.8) (58.8) (77.6) (91.0) (53.0) (49.9) (70.7) (106.0) (112.7) (107.2) (78.7) (89.2) (31.7) (74.8) (77.1)
Adjusted financial margin 911.0 814.2 1,152.5 1,630.8 1,390.9 1,425.1 1,427.4 1,660.3 1,256.9 1,283.0 1,148.6 1,236.6 1,041.4 1,050.7 1,100.7 949.2 1,268.0 1,023.8 969.2 882.7 765.6 677.1 640.8 685.6 487.9 483.9 522.9 480.6 402.7 348.8 364.8 294.7 332.4 259.8 275.9
Commissions and fees collected 37.2 78.5 - 104.1 137.1 141.4 134.8 0.2 188.2 193.7 182.1 227.2 186.8 209.3 203.1 146.5 138.4 106.8 147.9 - - - - - - - - - - - - - - - -
Commissions and fees paid (62.7) (55.1) (64.2) (110.3) (82.6) (95.0) (85.6) (78.2) (55.9) (54.1) (67.8) (60.3) (54.6) (56.1) (63.6) 13.8 (162.6) (76.0) (58.5) (27.9) (40.7) (50.6) (23.0) (29.7) (26.8) (26.9) (15.7) (18.1) (17.9) (17.6) (15.9) (16.6) (16.5) (15.6) (20.8)
Intermediation income (31.5) 1.9 61.3 (42.1) (52.6) (6.4) 257.4 (101.9) 31.4 (34.0) 83.6 (1.6) 126.4 0.1 28.0 73.5 225.2 69.1 8.0 - - - (1.5) - - - - - - - - - - - -
Other income from operations 308.9 304.7 88.7 37.0 49.0 89.1 30.9 25.5 157.6 110.3 62.9 143.8 81.2 85.4 98.5 (50.2) 103.7 160.5 53.3 15.1 5.2 3.5 14.0 2.2 5.4 9.5 6.6 1.8 2.3 2.6 3.4 5.2 5.2 4.8 5.4
Administrative and promotion expenses (974.7) (939.7) (772.5) (971.6) (929.7) (851.7) (854.1) (778.7) (941.4) (906.8) (856.3) (997.8) (806.1) (781.0) (832.6) (806.5) (805.1) (746.6) (563.8) (395.9) (283.4) (221.6) (237.2) (241.5) (130.2) (132.2) (125.7) (120.9) (122.5) (121.2) (119.5) (129.0) (115.3) (127.6) (108.7)
Operating result 188.2 204.5 465.9 647.8 512.2 702.5 910.9 726.8 636.8 592.0 553.1 548.0 575.1 508.4 534.1 326.3 767.6 537.6 556.1 474.1 446.7 408.4 393.1 416.6 336.3 334.3 388.1 343.4 264.5 212.5 232.8 154.4 205.8 121.4 151.8
Income taxes (21.6) (25.5) (127.5) (186.0) (117.7) (167.1) (265.1) (213.1) (156.4) (151.9) (129.3) (130.3) 159.3 89.4 (149.3) (12.3) (210.6) (148.9) (132.7) (122.7) (122.1) (91.9) (84.9) (91.5) (73.3) (75.6) (94.3) (87.6) (58.1) (40.1) (55.9) (42.5) (48.7) (18.7) (34.5)
Income before participation in the results of subsidiaries 166.6 179.0 338.5 461.8 394.4 535.4 645.8 513.8 480.4 440.2 423.9 417.7 415.8 419.0 384.7 314.0 557.0 388.7 423.4 351.4 324.5 316.5 308.2 325.1 263.0 258.7 293.9 255.8 206.4 172.5 176.9 111.9 157.1 102.8 117.3
Participation in the results of subsidiaries, associates and non-controlling participation 32.3 (47.7) (33.0) (34.5) 41.5 (43.1) (21.2) 111.9 25.0 19.0 (1.2) 21.3 (12.8) 3.6 11.8 31.3 30.6 (13.8) (17.1) 20.5 15.1 16.6 18.5 20.2 19.4 24.5 20.1 37.8 50.4 61.0 42.9 65.2 19.8 22.2 18.0
Net income 198.9 131.4 305.4 427.2 436.0 492.3 624.6 625.6 505.4 459.2 422.7 439.0 403.0 422.6 396.5 345.3 587.6 374.9 406.2 371.9 339.7 333.1 326.7 345.3 282.3 283.1 314.0 293.6 256.8 233.4 219.8 177.0 176.8 125.0 135.3
Income Statement
(USD million)
3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 1Q18 4Q17 3Q17 2Q17 1Q17 4Q16 3Q16 2Q16 1Q16 4Q15 3Q15 2Q15 1Q15 4Q14 3Q14 2Q14 1Q14 4Q13 3Q13 2Q13 1Q13 4Q12 3Q12 2Q12 1Q12
Interest income 105.5 103.9 114.6 174.6 149.5 145.5 146.1 139.2 136.8 131.7 126.4 121.8 113.8 110.0 107.2 89.2 109.7 89.6 77.7 72.2 65.1 62.2 61.8 67.5 56.5 59.6 61.2 59.9 53.0 48.4 49.6 43.2 41.2 36.7 39.7
Interest expense (41.6) (51.2) (46.0) (69.5) (60.6) (55.9) (55.0) (35.2) (44.5) (43.5) (40.5) (39.0) (36.9) 36.3 (31.9) (29.1) (29.5) (22.9) (18.7) (14.6) (13.9) (15.3) (14.7) (14.8) (16.3) (18.4) (15.8) (15.0) (13.9) (13.4) (13.7) (13.5) (12.9) (11.7) (12.1)
Financial margin 63.9 52.8 68.7 105.1 88.9 89.6 91.1 104.0 92.3 88.3 85.9 82.8 76.9 73.8 75.3 60.1 80.2 66.7 59.0 57.6 51.1 46.9 47.1 52.7 40.3 41.1 45.5 44.8 39.1 35.0 35.9 29.6 28.3 25.0 27.6
Provision for loan losses (22.8) (17.5) (19.6) (18.6) (18.4) (17.1) (17.4) (19.5) (25.2) (23.1) (23.1) (19.9) (19.5) (15.6) (16.8) 14.1 (14.8) (11.3) (2.8) (6.4) (5.8) (3.7) (5.1) (6.2) (3.9) (3.8) (5.4) (8.1) (8.6) (8.2) (6.4) (6.9) (2.5) (5.6) (6.0)
Adjusted financial margin 41.1 35.3 49.1 86.4 70.5 72.5 73.7 84.5 67.1 65.2 62.9 62.9 57.3 58.2 58.6 46.0 65.4 55.4 56.2 51.2 45.3 43.2 42.0 46.5 36.3 37.3 40.1 36.7 30.6 26.8 29.5 22.7 25.8 19.4 21.5
Commissions and fees collected 1.7 3.4 - 5.5 6.9 7.2 7.0 0.0 10.1 9.8 10.0 11.6 10.3 11.6 10.8 7.1 7.1 5.8 8.6 - - - - - - - - - - - - - - - -
Commissions and fees paid (2.8) (2.4) (2.7) (5.8) (4.2) (4.8) (4.4) (4.0) (3.0) (2.7) (3.7) (3.1) (3.0) (3.1) (3.4) 0.7 (8.4) (4.1) (3.4) (1.6) (2.4) (3.2) (1.5) (2.0) (2.0) (2.1) (1.2) (1.4) (1.4) (1.4) (1.3) (1.3) (1.3) (1.2) (1.6)
Intermediation income (1.4) 0.1 2.6 (2.2) (2.7) (0.3) 13.3 (5.2) 1.7 (1.7) 4.6 (0.1) 7.0 0.0 1.5 3.6 11.6 3.7 0.5 - - - (0.1) - - - - - - - - - - - -
Other income from operations 14.0 13.2 3.8 2.0 2.5 4.5 1.6 1.3 8.4 5.6 3.4 7.3 4.5 4.7 5.2 (2.4) 5.4 8.7 3.1 0.9 0.3 0.2 0.9 0.1 0.4 0.7 0.5 0.1 0.2 0.2 0.3 0.4 0.4 0.4 0.4
Administrative and promotion expenses (44.0) (40.7) (32.9) (51.5) (47.1) (43.3) (44.1) (39.6) (50.3) (46.1) (46.9) (50.7) (44.4) (43.2) (44.3) (39.1) (41.5) (40.4) (32.7) (23.0) (16.8) (14.1) (15.5) (16.4) (9.7) (10.2) (9.6) (9.2) (9.3) (9.3) (9.7) (9.9) (9.0) (9.5) (8.5)
Operating result 8.5 8.9 19.8 34.3 26.0 35.7 47.0 37.0 34.0 30.1 30.3 27.9 31.7 28.1 28.4 15.8 39.6 29.1 32.3 27.5 26.4 26.0 25.8 28.3 25.0 25.8 29.7 26.2 20.1 16.3 18.8 11.9 16.0 9.1 11.9
Income taxes (1.0) (1.1) (5.4) (9.9) (6.0) (8.5) (13.7) (10.8) (8.4) (7.7) (7.1) (6.6) 8.8 4.9 (7.9) (0.6) (10.9) (8.1) (7.7) (7.1) (7.2) (5.9) (5.6) (6.2) (5.5) (5.8) (7.2) (6.7) (4.4) (3.1) (4.5) (3.3) (3.8) (1.4) (2.7)
Income before participation in the results of subsidiaries 7.5 7.8 14.4 24.5 20.0 27.2 33.3 26.1 25.7 22.4 23.2 21.2 22.9 23.2 20.5 15.2 28.7 21.1 24.6 20.4 19.2 20.2 20.2 22.1 19.6 19.9 22.5 19.6 15.7 13.2 14.3 8.6 12.2 7.7 9.2
Participation in the results of subsidiaries, associates and non-controlling participation 1.5 (2.1) (1.4) (1.8) 2.1 (2.2) (1.1) 2.8 1.3 1.0 (0.1) 1.1 (0.7) 0.2 0.6 1.5 1.6 (0.7) (1.0) 1.2 0.9 1.1 1.2 1.4 1.4 1.9 1.5 2.9 3.8 4.7 3.5 5.0 1.5 1.7 1.4
Net income 9.0 5.7 13.0 22.6 22.1 25.1 32.2 28.9 27.0 23.3 23.1 22.3 22.2 23.4 21.1 16.7 30.3 20.3 23.6 21.6 20.1 21.2 21.4 23.4 21.0 21.8 24.1 22.4 19.5 17.9 17.8 13.7 13.7 9.3 10.6
Financial Ratios 3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 1Q18 4Q17 3Q17 2Q17 1Q17 4Q16 3Q16 2Q16 1Q16 4Q15 3Q15 2Q15 1Q15 4Q14 3Q14 2Q14 1Q14 4Q13 3Q13 2Q13 1Q13 4Q12 3Q12 2Q12 1Q12
Yield 21.1% 19.8% 22.3% 29.1% 28.0% 28.8% 30.4% 30.7% 29.9% 31.9% 30.6% 34.4% 31.9% 32.2% 33.5% 31.5% 32.6% 30.8% 27.9% 29.4% 28.3% 26.9% 26.9% 29.3% 23.5% 26.3% 27.4% 32.0% 31.9% 32.7% 35.4% 34.0% 34.9% 34.9% 36.8%
Net interest margin 11.8% 10.1% 13.4% 17.5% 16.7% 17.7% 18.9% 22.9% 20.2% 21.4% 20.8% 23.4% 21.5% 21.6% 23.5% 21.2% 22.4% 23.0% 21.2% 23.4% 22.2% 20.3% 20.5% 22.8% - - - - - - - - - - -
Return on average loan portfolio 1.7% 1.1% 2.5% 3.8% 4.1% 5.0% 6.7% 6.4% 5.9% 5.6% 5.6% 6.3% 6.2% 6.8% 6.6% 5.9% 6.7% 7.0% 8.5% 8.8% 8.7% 9.2% 9.3% 10.2% 8.7% 9.6% 10.1% 12.0% 11.7% 12.1% 12.7% 10.7% 11.6% 8.9% 9.8%
ROAA 1.1% 0.7% 1.8% 2.9% 3.1% 3.8% 5.0% 4.7% 4.4% 4.1% 4.0% 4.5% 4.6% 4.9% 4.5% 3.8% 4.3% 4.7% 5.7% 6.0% 6.0% 6.3% 6.5% 7.4% - - - - - - - - - - -
ROAE 4.5% 2.8% 6.9% 10.5% 10.8% 12.3% 15.7% 14.5% 13.3% 12.5% 11.6% 14.5% 17.5% 19.1% 17.6% 15.1% 17.8% 19.1% 22.8% 22.8% 22.1% 22.9% 23.7% 26.6% 23.0% 24.1% 24.1% 27.3% 24.9% 24.1% 23.9% 25.7% 39.0% 30.1% 35.4%
ROAE (excluding perpetual notes) 5.8% 3.7% 9.1% 14.2% 14.5% 16.7% 21.3% 19.9% 18.5% 17.5% 15.8% 17.6% 17.5% 19.1% 17.6% - - - - - - - - - - - - - - - - - - - -
Debt to equity ratio 2.9 3.0 2.7 2.6 2.3 2.2 2.0 1.9 1.8 1.8 1.7 1.6 2.6 2.6 2.6 2.7 2.9 2.8 2.9 2.6 2.4 2.4 2.4 2.5 2.3 2.3 2.5 2.3 2.0 1.9 1.9 1.9 4.0 3.8 4.0
Debt to equity ratio (excluding perpetual notes) 3.9 3.9 3.4 3.5 3.1 3.0 2.7 2.6 2.5 2.5 - - 2.6 2.6 - - - - - - - - - - - - - - - - - - - - -
Average cost of funds 8.4% 9.1% 9.4% 13.3% 13.2% 13.2% 13.7% 12.0% 12.0% 11.4% 10.5% 11.7% 11.2% 11.3% 10.1% 9.7% 9.6% 7.6% 6.6% 6.1% 6.4% 7.0% 6.7% 7.0% 7.7% 8.6% 7.7% 8.6% 9.1% 9.3% 9.6% 9.7% 9.4% 9.7% 9.5%
Efficiency ratio 54.2% 62.1% 49.9% 45.6% 46.1% 41.9% 42.0% 34.6% 45.4% 44.6% 46.7% 52.5% 49.0% 49.1% 49.9% 50.5% 48.2% 55.6% 45.1% 41.0% 34.4% 32.3% 34.1% 32.3% 25.3% 26.1% 24.4% 21.3% 24.6% 27.7% 27.9% 35.1% 33.2% 40.0% 32.7%
Capitalization ratio 33.8% 37.9% 38.5% 34.2% 37.7% 38.8% 41.9% 43.9% 43.8% 44.6% 46.0% 50.9% 35.2% 35.8% 36.1% 38.8% 38.4% 36.9% 36.4% 38.1% 38.8% 40.5% 39.6% 38.8% 37.6% 38.2% 41.6% 41.8% 46.4% 48.1% 52.8% 53.4% 29.6% 30.1% 28.7%
Capitalization ratio (excluding perpetual notes) 28.0% 28.9% 30.1% 25.3% 28.2% 28.5% 30.9% 32.3% 31.8% 32.1% - - 35.2% 35.8% - - - - - - - - - - - - - - - - - - - - -
Allowances for loan losses as a percentage of total loan portfolio 4.2% 3.3% 3.7% 3.0% 3.3% 3.3% 3.5% 4.2% 5.3% 5.4% 5.3% 5.4% 5.2% 4.6% 5.2% 5.4% 5.0% 3.7% 0.9% 2.5% 2.4% 1.6% 2.2% 2.6% 1.6% 1.6% 2.5% 4.1% 4.9% 5.2% 4.4% 5.3% 2.0% 5.2% 2.2%
Allowances for loan losses as a percentage of total loan portfolio 217.3% 245.8% 219.1% 219.7% 178.8% 205.2% 207.9% 172.9% 148.8% 180.5% 183.1% 176.4% 157.7% 169.4% 176.6% 176.4% 142.2% 159.9% 145.2% 116.7% 135.7% 127.3% 143.7% 161.2% 167.0% 218.8% 135.6% 128.2% 114.3% 115.0% 107.5% 132.2% 129.8% 122.4% 116.8%
Total past-due loan portfolio as a percentage of total loan portfolio 1.8% 1.5% 1.5% 1.3% 1.7% 1.5% 1.6% 1.7% 2.1% 1.9% 1.9% 2.1% 2.3% 2.2% 2.1% 2.1% 2.5% 2.3% 2.7% 2.4% 2.0% 2.1% 2.2% 1.9% 1.9% 1.5% 1.5% 1.5% 1.7% 1.6% 1.8% 1.6% 1.4% 1.9% 1.9%
Financial Ratios 3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 1Q18 4Q17 3Q17 2Q17 1Q17 4Q16 3Q16 2Q16 1Q16 4Q15 3Q15 2Q15 1Q15 4Q14 3Q14 2Q14 1Q14 4Q13 3Q13 2Q13 1Q13 4Q12 3Q12 2Q12 1Q12
Yield 21.1% 19.8% 22.3% 29.1% 28.0% 28.8% 30.4% 30.7% 29.9% 31.9% 30.6% 34.4% 31.9% 32.2% 33.5% 31.5% 32.6% 30.8% 27.9% 29.4% 28.3% 26.9% 26.9% 29.3% 23.5% 26.3% 27.4% 32.0% 31.9% 32.7% 35.4% 34.0% 34.9% 34.9% 36.8%
Net interest margin 11.8% 10.1% 13.4% 17.5% 16.7% 17.7% 18.9% 22.9% 20.2% 21.4% 20.8% 23.4% 21.5% 21.6% 23.5% 21.2% 22.4% 23.0% 21.2% 23.4% 22.2% 20.3% 20.5% 22.8% - - - - - - - - - - -
Return on average loan portfolio 1.7% 1.1% 2.5% 3.8% 4.1% 5.0% 6.7% 6.4% 5.9% 5.6% 5.6% 6.3% 6.2% 6.8% 6.6% 5.9% 6.7% 7.0% 8.5% 8.8% 8.7% 9.2% 9.3% 10.2% 8.7% 9.6% 10.1% 12.0% 11.7% 12.1% 12.7% 10.7% 11.6% 8.9% 9.8%
ROAA 1.1% 0.7% 1.8% 2.9% 3.1% 3.8% 5.0% 4.7% 4.4% 4.1% 4.0% 4.5% 4.6% 4.9% 4.5% 3.8% 4.3% 4.7% 5.7% 6.0% 6.0% 6.3% 6.5% 7.4% - - - - - - - - - - -
ROAE 4.5% 2.8% 6.9% 10.5% 10.8% 12.3% 15.7% 14.5% 13.3% 12.5% 11.6% 14.5% 17.5% 19.1% 17.6% 15.1% 17.8% 19.1% 22.8% 22.8% 22.1% 22.9% 23.7% 26.6% 23.0% 24.1% 24.1% 27.3% 24.9% 24.1% 23.9% 25.7% 39.0% 30.1% 35.4%
ROAE (excluding perpetual notes) 5.8% 3.7% 9.1% 14.2% 14.5% 16.7% 21.3% 19.9% 18.5% 17.5% 15.8% 17.6% 17.5% 19.1% 17.6% - - - - - - - - - - - - - - - - - - - -
Debt to equity ratio 2.9 3.0 2.7 2.6 2.3 2.2 2.0 1.9 1.8 1.8 1.7 1.6 2.6 2.6 2.6 2.7 2.9 2.8 2.9 2.6 2.4 2.4 2.4 2.5 2.3 2.3 2.5 2.3 2.0 1.9 1.9 1.9 4.0 3.8 4.0
Debt to equity ratio (excluding perpetual notes) 3.9 3.9 3.4 3.5 3.1 3.0 2.7 2.6 2.5 2.5 - - 2.6 2.6 - - - - - - - - - - - - - - - - - - - - -
Average cost of funds 8.4% 9.1% 9.4% 13.3% 13.2% 13.2% 13.7% 12.0% 12.0% 11.4% 10.5% 11.7% 11.2% 11.3% 10.1% 9.7% 9.6% 7.6% 6.6% 6.1% 6.4% 7.0% 6.7% 7.0% 7.7% 8.6% 7.7% 8.6% 9.1% 9.3% 9.6% 9.7% 9.4% 9.7% 9.5%
Efficiency ratio 54.2% 62.1% 49.9% 45.6% 46.1% 41.9% 42.0% 34.6% 45.4% 44.6% 46.7% 52.5% 49.0% 49.1% 49.9% 50.5% 48.2% 55.6% 45.1% 41.0% 34.4% 32.3% 34.1% 32.3% 25.3% 26.1% 24.4% 21.3% 24.6% 27.7% 27.9% 35.1% 33.2% 40.0% 32.7%
Capitalization ratio 33.8% 37.9% 38.5% 34.2% 37.7% 38.8% 41.9% 43.9% 43.8% 44.6% 46.0% 50.9% 35.2% 35.8% 36.1% 38.8% 38.4% 36.9% 36.4% 38.1% 38.8% 40.5% 39.6% 38.8% 37.6% 38.2% 41.6% 41.8% 46.4% 48.1% 52.8% 53.4% 29.6% 30.1% 28.7%
Capitalization ratio (excluding perpetual notes) 28.0% 28.9% 30.1% 25.3% 28.2% 28.5% 30.9% 32.3% 31.8% 32.1% - - 35.2% 35.8% - - - - - - - - - - - - - - - - - - - - -
Allowances for loan losses as a percentage of total loan portfolio 4.2% 3.3% 3.7% 3.0% 3.3% 3.3% 3.5% 4.2% 5.3% 5.4% 5.3% 5.4% 5.2% 4.6% 5.2% 5.4% 5.0% 3.7% 0.9% 2.5% 2.4% 1.6% 2.2% 2.6% 1.6% 1.6% 2.5% 4.1% 4.9% 5.2% 4.4% 5.3% 2.0% 5.2% 2.2%
Allowances for loan losses as a percentage of total loan portfolio 217.3% 245.8% 219.1% 219.7% 178.8% 205.2% 207.9% 172.9% 148.8% 180.5% 183.1% 176.4% 157.7% 169.4% 176.6% 176.4% 142.2% 159.9% 145.2% 116.7% 135.7% 127.3% 143.7% 161.2% 167.0% 218.8% 135.6% 128.2% 114.3% 115.0% 107.5% 132.2% 129.8% 122.4% 116.8%
Total past-due loan portfolio as a percentage of total loan portfolio 1.8% 1.5% 1.5% 1.3% 1.7% 1.5% 1.6% 1.7% 2.1% 1.9% 1.9% 2.1% 2.3% 2.2% 2.1% 2.1% 2.5% 2.3% 2.7% 2.4% 2.0% 2.1% 2.2% 1.9% 1.9% 1.5% 1.5% 1.5% 1.7% 1.6% 1.8% 1.6% 1.4% 1.9% 1.9%