Banco Famsa’s operations create a virtuous circle: customers benefit from the accessible savings and financing products offered by a regulated banking institution, while Banco Famsa develops a stable bank deposit base that strengthens credit availability and contributes to the entry of new users into the Mexican financial system.
As a result, Banco Famsa has become one of Mexico’s most important banking institutions, complementing Famsa Mexico with bank branches inside its stores. According to figures published by the Mexican National Banking and Securities Commission (CNBV) as of March 31, 2015, Banco Famsa is among Mexico’s largest multiple banking institutions in terms of the balance of its consumer portfolio and deposit base.
Regarding its Non-Performing Loan Ratio, it closed at levels of 13% as of March 31, 2015. Moreover, comparing this result with the IMOR of June 2014, there is a 430 basis point improvement, which reflects the significant progress we have made with the collection of the credit portfolio over the past nine months. It is important to note that the calculation of IMOR includes the heading of “Collection Rights” in the total portfolio of the bank in order to make the figure comparable to that of 2013. These rights correspond to loans that are discounted via the payroll. Because of an accounting reclassification that came into effect in July 2013, they are excluded from the credit portfolio used for the calculation of the IMOR indicator for the Mexican National Banking and Securities Commission (CNBV).
Banco Famsa’s strength, the stable growth of its deposit base and the synergies it shares with the operations of Famsa Mexico, place it in an excellent competitive position to leverage the growing demand for financial services from emerging segments of the population.