Cooperative societies see y-o-y increases in assets, credit portfolio

- Thursday, December 15, 2011

Cooperative societies see y-o-y increases in assets, credit portfolio

The total assets of Mexican savings and loan cooperative societies (SCAPs) reached 55.4bn pesos (US$4.02bn) at the end of 3Q11, a 10.49% increase compared to the same time in 2010, according to report from local banking regulator CNBV.

The SCAPs saw credit growth of 5.74% to 43.5bn pesos in the year through end-September, the report said.

Nonperforming loans accounted for 8.22% of total loans at the end of September, compared to 7.32% at the same time in 2010.

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The sector reported net attributable income of 590mn pesos in September.

To read the full report in Spanish, go to this link