Banco del Bajío ScA Institución de Banca Múltiple (BBAJIO O) Q2 2026 earnings summary

Executive summary

• Total loan portfolio grew 11.8% year-over-year and 3.5% quarter-over-quarter in 2Q26, reaching $296,354 million.

• Company loans increased 11.4% YoY; consumer loans rose 12.1% YoY.

• Total deposits expanded 9.8% YoY and 2.1% QoQ, totaling $288,661 million.

• Net income for 2Q26 was 2,118 million pesos, down 2.2% YoY but up 3.7% sequentially.

• Net interest margin for 2Q26 was 5.4%, down 71 bps YoY due to lower rates and mix changes.

Financial highlights

• Total revenues for 2Q26 were 5,980 million pesos, down 2.8% YoY but up 3.4% QoQ.

• Non-interest income increased 1.5% YoY and 17.6% QoQ.

• Operating expenses rose 10.1% YoY and 3.2% QoQ.

• EPS for 2Q26 was Ps. 1.78, 2.1% lower than 2Q25.

• Net interest income for 2Q26 was $5,219 million, down 3.4% YoY but up 1.6% sequentially.

Outlook and guidance

• Revised 2026 guidance: loan growth 11–12%, deposits growth 10–11%, NIM 5.4–5.5%.

• Net income guidance for 2026: 8,400–9,000 million pesos.

• ROAE expected between 16.9% and 18.0%; NPL ratio below 1.7%.

• Macro estimates unchanged: GDP growth 1.3%, inflation 4.0%, Banxico rate 6.50%.

• Management expects continued growth in the loan portfolio, especially in corporate lending.