Grupo Financiero Inbursa (GFINBUR O) Q4 2024 earnings summary

Executive summary

• Net income reached $34,464 million pesos in 2024, up 11.2% year-over-year, driven by a 26.1% increase in financial margin and robust loan portfolio growth.

• Total loan portfolio expanded 36.4% year-over-year to $493,911 million pesos, with retail loans up 121.7% and wholesale loans up 15.3%.

• Retail deposits grew 26.7% year-over-year to $381,733 million pesos.

• Efficiency ratio improved to 17.1% for 2024 and 15.8% in 4Q24, reflecting strong cost control.

• CET1 ratio stood at 22.69%, well above regulatory requirements, supporting future growth.

Financial highlights

• Net income: $34,464 million pesos (+11.2% YoY); EPS for 4Q24 was 1.46 pesos.

• Financial margin: $47,295 million pesos (+26.1% YoY).

• Operating income: $42,521 million pesos (+6.8% YoY).

• Total loan portfolio: $493,911 million pesos (+36.4% YoY); retail loans $159,244 million (+121.7% YoY), wholesale $334,667 million (+15.3% YoY).

• Retail deposits: $381,733 million pesos (+26.7% YoY).

• Stockholders' equity: $261,210 million pesos (+16.0% YoY).

• Digital transactions accounted for 94.5% of total transactions in December 2024.

Outlook and guidance

• Strong capital and liquidity position post-Cetelem acquisition positions Inbursa for continued loan growth and digital expansion.

• Efficiency and digitalization remain strategic priorities to maintain competitive advantage.