Grupo Financiero Inbursa (GFINBUR O) Q1 2026 earnings summary

Executive summary

• Net income for 1Q26 was $7,383 million pesos, up 2.5% quarter-over-quarter but down 6.6% year-over-year, driven by strong insurance results offsetting weaker banking performance.

• Operating income rose 9.2% QoQ to $9,537 million, but fell 5.4% YoY due to higher cost of risk and lower financial margin.

• Digitalization efforts resulted in 95.5% of transactions and 98.5% of new contracts being processed digitally in March 2026.

Financial highlights

• Financial margin for 1Q26 was $11,534 million, down 8.6% QoQ and 7.8% YoY.

• Cost of risk increased 45.0% QoQ and 82.6% YoY to $2,546 million, mainly from commercial and consumer portfolios.

• Efficiency ratio remained strong at 17.5%.

• Retail deposits grew 6.7% YoY to $422,331 million; total loan portfolio increased 5.3% YoY to $529,990 million.

• CET1 ratio at 23.27% and LCR at 273.5%, indicating robust solvency and liquidity.

Outlook and guidance

• Credit risk is expected to improve in coming quarters as targeted actions are implemented.

• Board proposes a $1.10 per share dividend (~$6,600 million) for May 2026, pending approval.