Banco Actinver S.A., Institución de Banca Múltiple Grupo Financiero Actinver (INFRAEX 18) Q3 2026 earnings summary

Executive summary

• 9M26 net income was MXN 1,253m, down 13.5% reported and 2.9% excluding extraordinary Zurich alliance income recognized in 2025; net operating income was MXN 7,429m, down 0.3% reported and up 2.8% normalized.

• AUM reached MXN 359.8bn, up 11.7% YoY; assets under custody and management totaled MXN 1,045.2bn, up 9.3%.

• Strategic businesses grew, while lower financial margin and trading income weighed on results against a strong Q3 2025 comparison.

Financial highlights

• 9M26 net commissions and fees rose 10.4% to MXN 4,375m; adjusted financial margin fell 16.6% to MXN 1,754m and intermediation result declined 23.8% to MXN 1,069m.

• Q3 net commissions and fees rose 14.9% to MXN 1,535m; trading income fell 33.1% to MXN 394m, while net interest margin was MXN 474m, down 17.0%.

• 3Q26 net income was MXN 462m, down 8.1% YoY; operating result was MXN 620m, down 12.1%.

• Operating expenses increased 5.3% to MXN 5,675m in 9M26 and 2.6% to MXN 1,868m in Q3; 3Q net operating income was MXN 2,488m, down 1.5%.

Outlook and guidance

• Priorities include strengthening recurring revenue, preserving portfolio quality, controlling expenses, and advancing technology initiatives to improve efficiency and customer experience.

• Core-system modernization, digital transformation and AI adoption aim to improve customer experience and operating efficiency and support future growth.

• Mexico’s 2026 GDP growth was projected at 1.7%; inflation was 3.42% and the central bank rate 6.50%.