2017 to be highest profitable year for banks

From January to November 2017, banks operating in Mexico accumulated MXN$ 124 billion in profit , 27.8% higher than last year, reported the National Banking and Securities Commission ( CNBV ).

Despite the volatility, the uncertainty about North American Free Trade Agreement ( NAFTA ), and the interest rate increase, 2017 appears to be a historic year in terms of profits for banks operating in Mexico.

The loan portfolio presented an increase of 8.9% compared to November 2016, reaching a balance of MXN$4.658 billion .

According to CNBV, the annual increases were 9% in the commercial portfolio , 8.5% in consumption , and 8.7% in housing .

The delinquency rate ( IMOR ) of the credit card portfolio stood at 5.52% , a 0.38% increase compared to 2016; while personal loans presented an IMOR of 6.06% , 0.75% higher than November 2016.

Thus, credit card interest presented a 16.12% increase .

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