Grupo Financiero Inbursa (GFINBUR O) Q2 2026 earnings summary

Executive summary

• Net income for 2Q26 was 5,971 million pesos, down 19.1% QoQ and 29.3% YoY, mainly due to higher loan loss provisions, lower market-related income, and slightly lower net insurance revenues, partially offset by improved financial margin and cost discipline.

• Lending business showed resilience with continued loan growth and a funding structure based on customer deposits, despite a 25% decline in average reference rates.

• S&P upgraded the bank's credit profile to BBB+ due to strong capitalization, consistent earnings, and resilient asset quality.

Financial highlights

• Financial margin increased 7.6% QoQ and 2.4% YoY to 12,407 million pesos.

• Total loan portfolio reached 542,651 million pesos, up 2.4% QoQ and 8.6% YoY, with growth in both commercial and consumer segments.

• Retail deposits totaled 422,721 million pesos, stable QoQ and up 5.1% YoY.

• Efficiency ratio improved to 17.6%, among the best in the Mexican banking sector.

• CET1 ratio at 23.19% and LCR at 236.3%, indicating robust solvency and liquidity.

Outlook and guidance

• As benchmark rates stabilize, the negative impact on financial margin is expected to lessen.

• Loan growth and digitalization are expected to support future expansion.