Crédito Real Reports Earnings Results for the Fourth Quarter of 2017
February 22, 2018 at 11:00 am EST
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Crédito Real reported earnings results for the fourth quarter of 2017. For the quarter, the company’s income amounted to MXN 439 million, growing 27.1% against the fourth quarter in 2016. Interest income was MXN 22.4 billion, increasing 30% compared to fourth quarter of 2016. Variation in interest income was mainly driven by the combined effect of the growth observed in the consolidated loan portfolio, largely supported by the Payroll business and the effect of the re-pricing of loans granted. ROE was 4.5% during the quarter, with ROA skewed at 4.5%, excluding the perpetual notes, which principal has equity treatment and its register is in the company's equity, ROE would have reached 17.9%.
Credito Real SAB de CV SOFOM ENR, formerly known as Credito Real SAB de CV Sofom ER, is a Mexico-based company that provides consumer financing. The Company provides loans, either by providing direct financing to consumers or by establishing financing programs with consumer financing dealers that sell to Credito Real the collection rights from consumer financing products. Additionally, It provides financing directly to individuals that are employed by corporations with payroll deduction agreements with consumer financing dealers authorized by Credito Real. It operates through a number of subsidiaries, including AFS Acceptance LLC.
CRÉDITO REAL, S.A.B. DE C.V., SOCIEDAD FINANCIERA DE OBJETO MÚLTIPLE, ENTIDAD NO REGULADA 
