墨西哥 国家银行和证券委员会（2025年4月） 损益与信贷 迄今强劲的贷款增长

Inigo Vega * | Equity Analyst+34 910769995 | ivega@jefferies.comMiruna Chirea ^ | Equity Associate+44 (0)20 7029 8336 | mchirea@jefferies.comSource: Jefferies, CNBV. Exhibit 4 - Mexico: Credit cards NPL formation per player (% of loans).0.05.010.015.020.025.030.035.0BBVADec-23Sep-24Source: Jefferies, CNBV.Please see important disclosure information on pages 18 - 23 of this report.This report is intended for Jefferies clients only. Unauthorized distribution is prohibited. Exhibit 5 - Mexican Banks: ROE performance (Apr-25 vs. Mar-25 and 1Q25).16.824.918.225.318.0-10.00.010.020.030.040.050.0Source: Jefferies, CNBV.Please see important disclosure information on pages 18 - 23 of this report.This report is intended for Jefferies clients only. Unauthorized distribution is prohibited. Exhibit 6 - Mexican Banks: Key data.MXNmNIIFeesTradingOtherRevenueOpex-204,629PPPLLCOtherPre-taxTaxesNetCommercial loans1,557,057o/w corporates1,146,462o/w publico/w FisConsumer loanso/w Cardso/w Payrollo/w Personalo/w Autoso/w OtherMortgagesTotal loans2,462,856o/w Timeo/w Demand1,652,742Total deposits2,591,760Assets5,802,608EquityNIM/Loans %ROE %C/I %LLC %LTDxEquity /Loans %Equity/Assets %Market shares %Commercial loanso/w corporateso/w publico/w FisConsumer loanso/w Cardso/w Payrollo/w Personalo/w Autoso/w OtherMortgagesTotal loanso/w Timeo/w DemandTotal depositsSource: Jefferies, CNBVPlease see important disclosure information on pages 18 - 23 of this report.This report is intended for Jefferies clients only. Unauthorized distribution is prohibited. Exhibit 7 - Mexican Banks: Key data.MXNmNIIFeesTradingOtherRevenueOpexPPPLLCOtherPre-taxTaxesNetCommercial loanso/w corporateso/w publico/w FisConsumer loanso/w Cardso/w Payrollo/w Personalo/w Autoso/w OtherMortgagesTotal loanso/w Timeo/w DemandTotal depositsAssets11,819,697EquityNIM/Loans %ROE %C/I %LLC %LTDxEquity /Loans %Equity/Assets %NPL formation %o/w Corporateso/w Mortgageo/w Consumero/w Cardso/w OtherMarket shares %Commercial loanso/w corporateso/w publico/w FisConsumer loanso/w Cardso/w Payrollo/w Personalo/w Autoso/w OtherMortgagesTotal loanso/w Timeo/w DemandTotal depositsSource: CNBVPlease see important disclosure information on pages 18 - 23 of this report.This report is intended for Jefferies clients only. Unauthorized distribution is prohibited. Exhibit 8 - Mexican Banks: Key data.MXNmJan-24NII69,63065,062Fees13,73113,332Trading7,695Other-2,191Revenue88,86684,387Opex-38,605-40,893PPP50,26143,494LLC-13,847-14,377Other595Pre-tax37,00929,541Taxes-10,015Net26,99321,858Commercial loans3,989,6134,015,705o/w corporates3,150,5953,179,710o/w public598,336598,957o/w Fis240,681237,039Consumer loans1,435,3871,441,264o/w Cards561,242560,652o/w Payroll367,799369,650o/w Personal227,215229,319o/w Autos200,390203,788o/w Other78,74277,854Mortgages1,335,5061,343,312Total loans6,760,5066,800,281o/w Time2,355,6682,360,132o/w Demand5,032,9375,153,527Total deposits7,388,6067,513,659Assets13,658,98413,762,671Equity1,525,7241,555,709NIM/Loans %12.3ROE %21.4C/I %43.4LLC %2.5LTDx0.9Equity /Loans %22.6Equity/Assets %11.2NPL formation %2.9o/w Corporates0.9o/w Mortgage1.4o/w Consumer10.3o/w Cards12.9o/w Other8.7Market shares %Jan-24Commercial loans100.0o/w corporates100.0o/w public100.0o/w Fis100.0Consumer loans100.0o/w Cards100.0o/w Payroll100.0o/w Personal100.0o/w Autos100.0o/w Other100.0Mortgages100.0Total loans100.0o/w Time100.0o/w Demand100.0Total deposits100.0Source: CNBVPlease see important disclosure information on pages 18 - 23 of this report.This report is intended for Jefferies clients only. Unauthorized distribution is prohibited. Exhibit 9 - Mexican Banks: Apr-25 in a nutshell.MXNmNIIFeesTradingOtherRevenueOpexPPPLLCOtherPre-taxTaxesNetCommercial loans1,090,851o/w corporateso/w publico/w FisConsumer loanso/w Cardso/w Payrollo/w Personalo/w Autoso/w OtherMortgagesTotal loans1,985,411o/w Timeo/w Demand1,555,897Total deposits1,856,195Assets3,317,668EquityNIM/Loans %ROE %C/I %LLC %LTDxEquity /Loans %Equity/Assets %NPL formation %o/w Corporateso/w Mortgageo/w Consumero/w Cardso/w OtherMarket shares %Commercial loanso/w corporateso/w publico/w FisConsumer loanso/w Cardso/w Payrollo/w Personalo/w Autoso/w OtherMortgagesTotal loanso/w Timeo/w DemandTotal depositsSource: CNBV, JefferiesPlease see important disclosure information on pages 18 - 23 of this report.This report is intended for Jefferies clients only. Unauthorized distribution is prohibited. Exhibit 10 - BBVA Mexico: Key data.MXNmJan-24NII18,235Fees3,917Trading743Other-675Revenue22,220Opex-7,021PPP15,199LLC-3,964Other38Pre-tax11,273Taxes-3,228Net8,046Commercial loans900,898o/w corporates674,643o/w public189,328o/w Fis36,927Consumer loans437,500o/w Cards179,926o/w Payroll141,518o/w Personal61,731o/w Autos54,314o/w Other12Mortgages338,592Total loans1,676,991o/w Time272,178o/w Demand1,363,646Total deposits1,635,825Assets2,987,822Equity336,767NIM/Loans %13.0ROE %29.0C/I %31.6LLC %2.8LTDx1.0Equity /Loans %20.1Equity/Assets %11.3NPL fo