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Banco Santander México reported a significant financial performance for the first quarter of 2023, achieving a net income of Ps.7,626 million, marking a 49.2% year-on-year increase. The total loans saw a growth of 5.2%, primarily driven by individual loans with strong demand in credit cards, payroll, and auto loans. Total deposits increased by 14.6% year-on-year, supported by a rise in term deposits, which grew by nearly 52%. The non-performing loans (NPL) ratio improved to 1.96%, down 83 basis points from the previous year. Despite increased provisions and expenses, the bank's net interest income rose to Ps.20,172 million. Key ratios also showed improvement with a ROAE of 17.92% and a net interest margin of 5.26%, reflecting effective risk management and a solid growth strategy.
Banco Santander México (NYSE: BSMX; BMV: BSMX) is set to release its first quarter 2023 financial results after market close on April 26, 2023. Following this announcement, a conference call will be held on April 27, 2023, at 12:00 p.m. U.S. ET. Interested parties can access the call via specific international and U.S. numbers, asking for "Banco Santander México's Earnings Call." A simultaneous webcast will also be available. The financial results and supporting presentation will be accessible on the company's investor relations website. Banco Santander México provides a wide range of financial services, serving over 21.3 million customers with total assets of Ps.1,844 billion as of December 31, 2022.
Banco Santander México (NYSE: BSMX) has filed its Annual Report on Form 20-F with the SEC on February 28, 2023. This report details the bank's financial and operational data for the fiscal year 2022. As of December 31, 2022, Banco Santander México reported total assets of Ps.1,844 billion and served over 21.3 million customers. The bank operates 1,345 branches across Mexico and employs approximately 25,990 staff. Shareholders can access the form via the SEC website or request a printed copy directly from the bank's Investor Relations Office.
Banco Santander México reported impressive financial results for 4Q22, showing a 19.7% increase in net income year-over-year to Ps.6,277 million, despite a 23.3% decline quarter-over-quarter. Cumulatively, net income for 12M22 rose 46.4% to Ps.26,476 million. The total loan portfolio grew 7.9% year-over-year, driven by a surge in individual loans, particularly in credit cards, payroll, and auto loans. Total deposits increased 6.9% year-over-year, supported by a higher interest rate environment. The bank achieved 41.4% of total deposits from individuals, a significant rise from 24.2% in 2016, highlighting its focus on retail banking.
Banco Santander México (NYSE: BSMX) is set to release its fourth quarter 2022 financial results on February 2, 2023, post-market close. A conference call will follow on February 3, 2023, at 10:00 a.m. ET, allowing stakeholders to discuss these results. The call can be accessed via specific phone numbers provided in the release. A replay of the call will be available until February 10, 2023. As of September 30, 2022, Banco Santander México had total assets amounting to Ps.1,932 billion and served over 20.8 million customers.
Banco Santander México reported strong financial results for 3Q22, with a net income of Ps.8,188 million, marking a 69.1% year-over-year increase. The total loan portfolio grew by 12.1% YoY, driven by a robust performance in individual loans, particularly credit cards and mortgages. Key financial highlights include a 4.94% net interest margin and a 2.01% non-performing loans (NPL) ratio. However, total deposits remained stable, reflecting a strategic shift towards demand deposits from individuals. The bank forecasts continued profitability despite economic challenges.
Banco Santander México (NYSE:BSMX) plans to release its third quarter 2022 financial results after market close on October 27, 2022. A conference call for discussing these results is scheduled for October 28, 2022, at 10:00 a.m. U.S. ET. Investors can join the call by dialling specific numbers provided for U.S. and international participants. Additionally, a replay of this conference call will be available from October 28 to November 4, 2022. The bank, based in Mexico City, serves over 20.4 million customers with a wide range of financial services.
Banco Santander México reported a strong growth trajectory in its 2Q22 results, with net income reaching Ps.6,900 million, a 46.4% increase YoY. The total loan portfolio grew 10.3% YoY, propelled by individual loans, including mortgages and auto loans. Total deposits rose 3.3% YoY, with individual deposits comprising 37.2% of total deposits, up from 24.2% in 2016. The NPL ratio decreased to 2.56%, reflecting robust risk management. The bank expects continued profitability growth despite challenging economic conditions, emphasizing a focus on customer experience and strategic initiatives.
Banco Santander México announced the appointment of Mr. Felipe García Ascencio as the new CEO, succeeding Mr. Héctor Grisi Checa, who will remain as Executive Chairman until December 31, 2022. García Ascencio has extensive experience in the financial sector, previously leading Corporate Investment Banking at Santander. Alongside this change, the bank appointed two new vice presidents and made several organizational adjustments in leadership roles, enhancing its operational structure.
Banco Santander México will release its second quarter 2022 financial results after market close on July 28, 2022. A conference call is scheduled for July 29, 2022 at 10:00 a.m. U.S. ET. Investors can access the call by dialing specified numbers or via a simultaneous webcast available on the company’s website. The telephonic replay will be available from July 29 to August 5, 2022. Banco Santander México, one of Mexico's leading banks, reported total assets of Ps.1,734 billion and serves over 20 million customers.
