BanBajío Reports 16.5% Loan Portfolio Growth in Q3 2026

BanBajío reported its Q3 2026 results, showing 16.5% year-over-year growth in its total loan portfolio and 13.1% in deposits. As of the end of September, the institution reached a credit portfolio of 312,368 million pesos and gathered 310,315 million in deposits. The October financial report also highlights progress in financing for corporations and small and medium-sized enterprises (SMEs). However, the bank’s net profit experienced a 21.4% year-over-year contraction during the quarter, while total revenues declined by 4.1%. These results reflect two key trends in the institution’s performance: an expansion in its lending and deposit-gathering activities, alongside reduced profitability compared to the same period in 2025.

Loan Portfolio Exceeds 312 Billion Pesos

At the close of the third quarter, BanBajío registered a total loan portfolio of 312,368 million pesos. This figure represented a 16.5% annual growth and a 5.4% quarterly increase. Financing for corporations, which constitutes the institution’s core business, reached 178,200 million pesos, marking a 14.8% annual increase. SME loans amounted to 90,700 million pesos, growing by 18.6%. Other segments also saw advancements. Government financing totaled 18,800 million pesos, with 38% annual growth. Loans to financial institutions reached 12,900 million pesos, an 11.1% increase. In the consumer segment, the portfolio reached 8,500 million pesos, with 12.2% growth. In contrast, mortgage lending decreased by 11.9%, closing at 3,100 million pesos.

Trade and Services Concentrate Corporate Financing

Sectoral distribution shows that trade and services concentrate a significant portion of BanBajío’s corporate financing. By the third quarter, credit allocated to trade reached 80,300 million pesos, with 17.9% annual growth. Services recorded one of the largest increases among the main sectors, with its portfolio reaching 67,600 million pesos, equivalent to a 37% annual increase. The manufacturing industry received 48,200 million pesos, with 10.7% growth. Agriculture reached 30,500 million pesos, a 3.1% increase. Construction showed a different trend, with financing for this activity totaling 25,900 million pesos, although it decreased by 10.2% compared to Q3 2025. In other segments, government credit grew by 38%, reaching 18,900 million pesos. Transportation and telecommunications accounted for 15,300 million pesos, with a 29.8% annual increase. Collectively, the corporate portfolio by economic sector amounted to 300,700 million pesos, a 17% annual growth.

BanBajío Increases Deposits by 13.1% Annually

Deposit gathering also maintained a growth trajectory during the period. BanBajío reported deposits totaling 310,315 million pesos as of the end of September, a 13.1% annual increase. Term deposits amounted to 160,194 million pesos, with 19.9% growth compared to Q3 2025. Demand deposits reached 150,121 million pesos, a 6.7% increase. Considering repurchase operations, total funding reached 320,609 million pesos, with 14.6% annual growth. Furthermore, the institution’s total assets reached 437,319 million pesos, a 14.1% increase. Equity capital stood at 49,249 million pesos, with a 4.5% annual increase.

Net Profit Falls 21.4% in the Third Quarter

Despite growth in loans and deposits, financial results indicate pressure on revenues and profitability. During the third quarter, BanBajío reported total revenues of 6,035 million pesos, a 4.1% annual decrease. The financial margin reached 5,341 million pesos, with 1.1% annual growth and 2.3% growth compared to the previous quarter. However, income from commissions and intermediation operations totaled 1,026 million pesos, a 4.8% annual reduction. Additionally, non-financial income amounted to 694 million pesos, a 31.4% annual decline. This trend accompanied the decrease in total revenues during the period. The institution recorded a net profit of 1,782 million pesos in the third quarter, 21.4% less than the 2,267 million obtained in the same period of 2025. Compared to Q2 2026, the contraction was 15.9%. For the cumulative period from January to September, net profit reached 5,942 million pesos, a 14.2% decrease from the same period last year. Similarly, cumulative total revenues amounted to 17,798 million pesos, a 5.5% reduction.

Profitability and Portfolio Quality Indicators Show Adjustments

Profitability indicators also reflected a reduction compared to the previous year. Return on Average Equity (ROAE) stood at 14.7% during the third quarter and 16.3% for the nine-month cumulative period. Return on Average Assets (ROAA) reached 1.7% quarterly and 1.9% cumulatively. Furthermore, earnings per share were 1.50 pesos, 21.4% lower than that recorded in Q3 2025. Regarding asset quality, the non-performing loan ratio was 1.8%. The coverage ratio reached 98.9%, while the quarterly cost of risk was 1.2%. The report also indicates that the net financial margin decreased by 58 basis points year-over-year, attributed by the bank to lower interest rates and changes in its portfolio composition.

Operational Efficiency and Capitalization Maintain Relevant Indicators

BanBajío’s efficiency ratio stood at 43.6% during the third quarter, compared to 45.1% reported for the banking system. This indicator relates operating expenses to total revenues. The institution also reported that the growth of its operating expenses remained within projected ranges for five consecutive quarters. In the third quarter, these expenses totaled 2,634 million pesos, a 5.9% annual increase. In terms of capitalization, the Capitalization Ratio (ICAP) reached 14.8% in September 2026, according to the preliminary figure presented by the bank. The CET1 ratio also stood at 14.8%. Thus, the third-quarter results show that BanBajío maintains an expansion of its loan portfolio and deposits, although it faces a reduction in revenues and profits.

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