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BBVA México continues to trust in the potential of the country. In this chapter, you will learn how it drives the growth and banking inclusion of the productive sector so that Mexican families and businesses can achieve their goals.

Financial
Performance

Cuatro Ciénegas, Coahuila

Financial Performance

Financial Performance

Throughout 2024, Grupo Financiero BBVA Mexico consolidated decades of transformation and growth. Below are the most relevant financial milestones achieved during the year:

Lending to households: Reached MXN 845 billion, representing a 12.7% increase compared to the same period of the previous year.

Support for SMEs: The loan portfolio for small and medium-sized enterprises grew by 21.4% year-over-year, reaching MXN 136 billion. Corporate lending totaled MXN 721 billion, growing by 21.5%, while government segment financing reached MXN 204 billion, with a 6.6% increase.

New SME lending: BBVA Mexico reaffirmed its position as the bank for SMEs, granting over MXN 241 billion in new loans during 2024, a 16.0% increase compared to 2023. Of this amount, 7% was allocated to previously unbanked SMEs. The bank currently serves 58% of the banked SMEs in the country.

Banco de Barrio: Through this initiative, micro, small, and medium-sized enterprises were strengthened, closing the year with 110,000 new clients. Since 2020, 285,618 point-of-sale (POS) terminals have been distributed, and over 1.1 million payroll accounts have been opened.

Credit cards: Over 2.5 million new credit cards were issued, including 540,000 first-time cardholders, bringing the total number of active cards to 9.8 million.

Consumer loans: A total of 2.7 million new payroll and personal loans were issued, bringing the number of active consumer loans to 3.5 million—a 7.9% increase compared to 2023.

Mortgage loans: 34,400 new mortgages loans were granted, reaching a total of 352,000 mortgages financed.

Auto loans: 156,000 new auto loans were issued, a 29.9% increase over the previous year, with a total of 402,000 active loans at year-end.

Deposits and savings: Total deposit (demand deposits, time deposits, and mutual funds) grew 13.1% year-over-year, reaching a total balance of MXN 2.8 trillion.

Activity Evolution

Activity Evolution

BBVA Mexico reported its year-end 2024 results, highlighting that the total loan portfolio grew by more than MXN 262 billion compared to the previous year, closing at nearly MXN 2 trillion—equivalent to an annual growth of 15.8%. This increase was driven by the positive performance across all portfolio segments, particularly those linked to households, as well as the business and corporate segments.

According to the financial institution, the total performance of the loan portfolio in 2024 in the household segment (credit cards, consumer loans, auto loans, and mortgages) reached a balance of MXN 845 billion, representing a 12.7% increase compared to the same period of the previous year.

In the SME segment, the portfolio reached a balance of MXN 136 billion, showing strong growth of 21.4%. The corporate loan portfolio (including corporate, promoter, and financial entities) closed 2024 with a balance of MXN 721 billion up 21.5% year-over-year. Meanwhile, the government portfolio grew by 6.6%, totaling MXN 204 billion.

In the credit card segment, more than 2.5 million new cards were issued by year-end, including 540,000 first-time cardholders. In the consumer loan segment, 2.7 million new loans were granted.

During the same period, 34,400 new mortgage loans were issued for home purchases, reaching a total of 352,000 financed mortgages. In the auto loan segment, 156,000 new loans were originated, bringing the total to 402,000 active auto loans.

Based on this origination activity, BBVA Mexico granted a total of 5.4 million new loans to households by the end of 2024, reaching a total of 11.3 million individual borrowers.

In line with the Plan México introduced by the federal government, BBVA Mexico reaffirmed its position as the bank for SMEs. In 2024, new loan origination in this segment totaled MXN 241 billion, a 16% increase compared to December 2023. Of this amount, 7% was granted to SMEs with no previous banking history. As of December 2024, the total SME portfolio stood at MXN 136 billion.

Through its Banco de Barrio initiative, the institution continued to strengthen the micro, small, and medium-sized enterprise segment. As of year-end 2024, the program reported 110,000 new clients, bringing the total to 402,000. Since 2020, over 286,000 new point-of-sale (POS) terminals have been deployed, and more than 1.1 million payroll accounts have been opened.

The financial institution also collaborated with all three levels of government to support productive projects. Loan origination in this category totaled MXN 29 billion in 2024, up 20% from the previous year. From January to December, more than MXN 73.96 billion were mobilized in inclusive growth initiatives.


Bank Deposits

Demand and savings deposits reached a balance of MXN 1.5 trillion, reflecting a 7.1% increase. Time deposits reported a balance of MXN 281 billion, representing growth of 8.2%. Investment funds totaled MXN 1.03 trillion, marking a 25.6% increase compared to the previous year. As a result, total client resources held by the bank amounted to MXN 2.8 trillion, up 13.1% versus 2023.

Credit Quality

BBVA México maintains a robust framework for credit approval, monitoring, and risk management, which is reflected in its credit quality indicators. The non-performing loan ratio (NPL) stood at 1.6% as of December year-end, comparing favorably to the most recent publicly available system-wide NPL figure of 2.0% as of November 2024 (according to data published by the National Banking and Securities Commission). The Stage 3 loan coverage ratio as of December 2024 reached 193.1%.

Evolution of Results

Evolution of Results

Grupo Financiero BBVA Mexico delivered strong results, achieving a cumulative net income of MXN 107.4 billion. This performance was primarily driven by a solid increase in the net interest margin, resulting from higher lending activity in the most profitable portfolios and effective management of funding costs.

In addition, non-interest income—such as fees and trading—also showed favorable results. These gains were supported by increased transactional activity, reflected in higher fee income, as well as improved performance in the insurance and pension businesses due to strong investment portfolio returns and higher premiums issued.

INCOME STATEMENT

Change (%)

Change (%)

Grupo Financiero BBVA México

4Q

3Q

4Q

vs 3Q

12M

12M

vs 12M

2023

2024

2024

2024

2023

2024

2023

Net Interest Income

56,531

62,884

61,652

(2.0)

219,000

240,081

9.6

Loan Loss Provisions

(13,572)

(14,302)

(14,623)

2.2

(44,995)

(54,705)

21.6

Net Interes Income after provisions

42,959

48,582

47,029

(3.2)

174,005

185,376

6.5

Fees and Commissions, net

10,007

11,381

11,837

4.0

38,695

44,829

15.9

Premium Income

11,328

12,185

13,557

11.3

43,761

46,370

6.0

Increase in Technical Reserves

(3,199)

(5,247)

(2,264)

(56.9)

(6,486)

(10,004)

54.2

Cost of Claims and Other Obligations

(11,861)

(12,367)

(13,635)

10.3

(43,634)

(49,609)

13.7

Trading Income

9,180

9,670

7,881

(18.5)

25,068

33,116

32.1

Other Operating Income (Expenses)

(2,394)

(1,956)

(1,899)

(2.9)

(9,266)

(8,751)

(5.6)

Total operating income (expenses)

56,020

62,248

62,506

0.4

222,143

241,327

8.6

Operating Expenses

(22,932)

(23,872)

(25,000)

4.7

(84,354)

(93,207)

10.5

Operating Income

33,088

38,376

37,506

(2.3)

137,789

148,120

7.5

Share in Results of Affiliates

61

58

58

n.a.

323

448

38.7

Income Before Taxes

33,149

38,434

37,564

(2.3)

138,112

148,568

7.6

Net Taxes

(9,322)

(10,251)

(10,902)

6.4

(37,866)

(41,146)

8.7

Net Income

23,827

28,183

26,662

(5.4)

100,246

107,422

7.2

Relevant Information

Relevant Information

December 2024 (Financial Groups)

Indicators (%)

GFBBVA México

Market*

Return on Equity (ROE)

27.1

19.7

Net Interest Margin (NIM)

6.8

5.4

Efficiency Ratio

31.5

40.7

Delinquency rate

1.6

2.0

* Financial Groups Market include: BBVA, Banorte, Inbursa, HSBC, Scotiabank, Santander and Citibanamex. Latest available information.

Relevance of Grupo Financiero BBVA México in the economy

Indicator

December 2024

Total assets (million pesos)

3,822,153

Performing portfolio

1,912,501

Market share (performing portfolio)

25.3%

Traditional deposits (million pesos)

1,961,883

Market share (deposits)

23.2%

Traditional deposits / Total assets

51.33%

General Multiple Banking Indicators (CNBV Data)

Indicator

December 2024

Total Multiple Banking Institutions

51

Branches

11,809

Employees

282,393

Total Banking Assets (million pesos)

15,195,392

GDP constant (million pesos)

34,240,947

% of GDP

44.4%

Total gross banking portfolio (million pesos)

7,521,296

% of GDP

22%

Traditional deposits (million pesos)

8,605,637

Demand

5,718,998

Term

2,454,814

Securities

403,472


BBVA Mexico


Fouth quarter 2024

Business evolution

  • BBVA Mexico grew its credit portfolio by 262 billion pesos and practically reached a total balance of 2 2 trillion pesos in 2024.

  • The financial institution achieved growth in savings products in global deposits (demand + time + investment funds) of 13.1% year-on-year, reaching a total balance of 2.8 trillion pesos.


Results

  • BBVA Mexico’s net income during 2024 was 107,422 million pesos with an annual increase of 7.2%.

  • This result is driven by greater activity in the consumer segments, as well as an increase in transactionality.

  • 17.2% more insurance premiums were written than in 2023, growth aligned with the volume of commercial activity.


Responsible banking

  • Through the BBVA Mexico Foundation, during 2024 more than 2 billion were invested focused on educational projects and support for communities affected by natural disasters, benefiting 1.6 million people.

Social Impact

  • Suppliers

    37 billion pesos

    in suppliers expenses.

  • Employees

    45 billion pesos

    on personnel expenses.

  • Taxes

    41 billion pesos

    on taxes paid.

  • Foundation

    2 billion pesos

    contribution to the BBVA Foundation.