Banco Actinver S.A., Institución de Banca Múltiple Grupo Financiero Actinver (INFRAEX 18) Q3 2024 earnings summary

Executive summary

• Net income for 3Q24 reached 329 million pesos, a 140% increase year-over-year; nine-month net profit was 916 million pesos, up 19% from the prior year.

• Assets in mutual funds totaled 262 billion pesos, up 29% year-over-year, maintaining a 6.4% market share.

• Net loan portfolio grew 9% year-over-year to 30.42 billion pesos, driven by commercial credit.

• Recognized as 'Best Mutual Fund Operator', 'Best Training Academy', and 'Best Market Analyst' by Rankia Mexico.

Financial highlights

• Adjusted financial margin rose 42% year-over-year to 666 million pesos, supported by deposit funding and loan growth.

• Net commissions and fees increased 17% year-over-year to 1,040 million pesos, reflecting growth in fund management and client services.

• Brokerage income surged 280% year-over-year to 374 million pesos, driven by strong results in FX, money, and derivatives markets.

• Operating income reached 2,116 million pesos, up 46% year-over-year.

• Administrative and promotion expenses rose 32% year-over-year, mainly due to investments in human capital and systems.

Outlook and guidance

• Positioned to capitalize on opportunities in a challenging economic environment, with a focus on client relationships, digitalization, and operational efficiency.

• Continued investment in technology and talent to support growth and risk management.