It is important to note that 2021 figures are pro forma, since 2022 financial information was prepared in accordance with a new set of accounting criteria applicable to financial entities in Mexico, mainly arising from the adoption of IFRS 9. For further information, please refer to the annexes section.
4Q22 Operational Highlights
- As of December 31, 2022, the loan portfolio totaled Ps.17,151 million, up 23.0% compared to Ps.13,941 million in 4Q21, driven mainly by the SMEs segment (+28.2% YoY).
- During 4Q22, the average loan per client was Ps.8.8 million, 10.2% lower than the Ps.9.8 million in 4Q21.
- Origination decreased 31.8% YoY, from Ps.2,389 million in 4Q21 to Ps.1,629 million this quarter.
- At the end of 4Q22, the NPL ratio remained one of the lowest in the industry, at 3.0%, vs. 2.4% in 3Q22, and 2.6% in 4Q21.
4Q22 Financial Highlights
- During 4Q22, total revenues increased 39.4% YoY to Ps.821 million, driven by a 57.1% growth in interest income.
- The financial margin increased 141.9% from Ps.187 million in 4Q21 to Ps.451 million in 4Q22, as the total revenue increased.
- Net income reached Ps.9 million in 4Q22, compared to the Ps.42 million generated in 4Q21.
- Although debt increased 9.4% YoY to Ps.15,947 million at the end of 4Q22, it decreased 0.5% vs. the Ps.16,027 million at the end of 3Q22. In addition, leverage decreased vs. 4Q21 to 5.7x from 6.0x.
Fourth Quarter 2022 Unaudited Financial Results Conference Call
Date: Tuesday, February 14, 2023
Hour: 11:00 A.M. Mexico City (CST)
12:00 P.M. Eastern Standard Time (EST)
Participants: Guillermo Romo – Executive Chairman
Jaime Gómez – CFO
Webinar Link: https://us02web.zoom.us/webinar/register/WN_MW0MygrDRku5qWcqeuk5Rw
Miranda Newswire – Full Press Release: Download PDF
Investor Relations Contact Details
contacto@gfmega.com
Tel. +52 (33) 3777 1640