Banco del Bajio Reports Mixed 2024 Earnings

Banco del Bajio SA ( (BBAJF) ) has released its Q4 earnings. Here is a breakdown of the information Banco del Bajio SA presented to its investors.

Banco del Bajio SA, a prominent financial institution in Mexico, primarily engages in banking services across various sectors, including corporate, government, and consumer lending. In its latest earnings report, Banco del Bajio reported a consolidated net income of $10,690 million for the year ending December 2024, a 2.9% decrease from the previous year. The fourth quarter net income was $2,539 million, marking an 8.8% decline compared to the same period last year. Total annual revenues rose by 4.5% to $26,004 million, although quarterly revenues were down by 4.0% year-over-year. Key financial metrics revealed a mixed performance, with the interest margin before credit risk provisions increasing by 2.9% annually but declining 4.0% in the fourth quarter compared to the previous year. The bank’s total loan portfolio grew by 10.9% year-over-year, with significant contributions from corporate lending. Despite a challenging interest rate environment, Banco del Bajio maintained a robust capital position with an ICAP of 15.21% at year-end. Looking ahead, the bank’s management remains focused on strengthening its core operations and maintaining financial stability in the face of evolving market conditions.