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Loan portfolio of Mexican banks grows 9.6% in March YOY

The credit portfolio of Mexico's banking sector amounted to 4.772 trillion Mexican pesos in March, 9.6% more than in the same month last year, regulator CNBV said May 10.

Meanwhile, total assets of the 50 companies within the sector were worth 9.021 trillion pesos at the end of March, 7.0% more than a year ago. Total funding reached 5.270 trillion pesos, or a 9.0% increase.

The delinquency rate, known in Mexico as IMOR, stood at 2.19% for the period, up by 0.01 percentage point from its level in the same month of 2017.

Banks posted a total net profit of 37.8 billion pesos in the period, up 7.2% year over year. The sector's return on assets was 1.61%, while its return on equity was 15.18%, CNBV said.

As of May 9, US$1 was equivalent to 19.54 Mexican pesos.