The net profits of the 46 commercial banks operating in Mexico totaled 5 billion pesos ($376 million) in January, down 69 percent from the same month in 2013, the National Banking and Securities Commission, or CNBV, said.
The profit drop was due to the fact that the commercial banking industry booked "a special gain due to the sale of certain related assets by one of the institutions" in January 2013, the CNBV said.
The commercial banking industry generated interest income of 39 billion pesos ($2.93 billion) in January, up 4.4 percent from the January 2013 level, the financial industry regulatory agency said.
Commercial bank assets totaled 6.86 trillion pesos ($517.1 billion) in January, posting year-on-year growth of 12.6 percent.
The industry's loan portfolio totaled 3.02 trillion pesos ($228.18 billion) in January, up 10.2 percent compared to January 2013, the CNBV said.
The loan arrears index posted an increase of 0.81 percentage points over the one-year period, rising from 2.61 percent to 3.42 percent, the financial industry regulatory agency said.
Commercial loans accounted for 60.8 percent of lending, while consumer loans represented 22.1 percent of the total, with credit cards and personal loans accounting for the bulk of consumer lending, and mortgages accounted for 17.1 percent of loans, the CNBV said.
Commercial bank deposits totaled 3.35 trillion pesos ($252.59 billion) as of Jan. 31, or 7.7 percent more than at the same time a year earlier, with traditional deposits hitting 3.08 trillion pesos ($232.25 billion), up 6.8 percent year-on-year, the agency said.
Return on assets (ROA) was 1.51 percent over the 12-month period, while return on equity (ROE) came in at 14.07 percent, the CNBV said.
Mexico's commercial banking industry is made up of 46 institutions, led by BBVA Bancomer, a unit of Spanish banking giant BBVA, and Grupo Banamex, a unit of U.S.-based Citigroup. EFE