Earnings Report /
Mexico

Gentera: GENTERA, Quarterly Report 2Q21: A faster-than-expected recovery

  • Gentera surprised favorably by posting a MXN 653 million profit, ~30% higher than expected

  • NIM increased to 28.1% and NPLs dropped to 3.0%, with ICAP at 33.2%

  • The quarter points to an accelerated recovery. We will revise our estimates and valuation with positive implications

Marissa Garza Ostos
Marissa Garza Ostos

Head of Equity Research

Banorte
27 July 2021
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