Post by nurnobisorker02 on Feb 28, 2024 6:15:02 GMT
Mainly in the corporate segment, in line with the market trend and weak demand conditions. The mortgage loan portfolio and auto loans continue to have excellent performance, we once again grew above the market and gained share, while maintaining prudent origination criteria. We have fully absorbed the negative impact of the pandemic, mainly in consumer loans, credit cards and SMEs, and are well positioned to support our clients on the recovery path ahead. Although the credit volumes in these segments show year-on-year contractions, we expect to see a gradual change going forward.” The Executive President and CEO commented that “deposits also reflect difficult year-on-year comparisons, mainly in the corporate segment, where their liquidity needs have normalized compared to the levels of a year ago.
On the contrary, demand deposits from individuals continued to expand above 20%, which highlights the success of our customer loyalty and acquisition strategy. In this context, our strategy remains focused on strengthening loyalty and advancing digitalization. “We remain committed to further improving our digital customer experience and building ecosystems for this, while maintaining a Anhui Mobile Number List continued focus on driving cross-selling, non-credit products and insurance to support fee income growth.” “In terms of asset quality, delinquency rates have begun to decrease, benefiting from the improvement in the conditions of our clients along with the credit write-offs carried out, mainly in the segments most affected by the covid-19 pandemic, such as consumer loans, credit cards and SMEs.
Although provisions increased this quarter due to specific corporate client exposures, we estimate that the cost of risk has peaked and should begin to decline going forward.” He added that “during the quarter, our parent company announced that it intends to launch a public offer for the 8.3% of the remaining outstanding shares that it does not currently own in Santander México. Our parent company also stated that it intends to delist Banco Santander México from the Mexican Stock Exchange and the New York Stock Exchange. This offer reaffirms the confidence of our parent company in the country and in our business.” Grisi Checa concluded: “Looking ahead, recent evidence of a rapid recovery in the US supported by a strong fiscal stimulus package and an efficient vaccination program has improved national GDP expectations for this year. While we anticipate an improvement in activity driven by the external sector and private consumption, we expect the recovery to be gradual.
On the contrary, demand deposits from individuals continued to expand above 20%, which highlights the success of our customer loyalty and acquisition strategy. In this context, our strategy remains focused on strengthening loyalty and advancing digitalization. “We remain committed to further improving our digital customer experience and building ecosystems for this, while maintaining a Anhui Mobile Number List continued focus on driving cross-selling, non-credit products and insurance to support fee income growth.” “In terms of asset quality, delinquency rates have begun to decrease, benefiting from the improvement in the conditions of our clients along with the credit write-offs carried out, mainly in the segments most affected by the covid-19 pandemic, such as consumer loans, credit cards and SMEs.
Although provisions increased this quarter due to specific corporate client exposures, we estimate that the cost of risk has peaked and should begin to decline going forward.” He added that “during the quarter, our parent company announced that it intends to launch a public offer for the 8.3% of the remaining outstanding shares that it does not currently own in Santander México. Our parent company also stated that it intends to delist Banco Santander México from the Mexican Stock Exchange and the New York Stock Exchange. This offer reaffirms the confidence of our parent company in the country and in our business.” Grisi Checa concluded: “Looking ahead, recent evidence of a rapid recovery in the US supported by a strong fiscal stimulus package and an efficient vaccination program has improved national GDP expectations for this year. While we anticipate an improvement in activity driven by the external sector and private consumption, we expect the recovery to be gradual.