Credito Real S.A.B. de C.V. SOFOM E.R. Announces Consolidated Earnings Results for the First Quarter of 2017
April 25, 2017
Share
Credito Real S.A.B. de C.V. SOFOM E.R. announced consolidated earnings results for the first quarter of 2017. For the quarter, the company's interest income was MXN 2,015.4 million compared with MXN 1,339.3 million a year ago. The changes were mainly due to the growth observed in the loan portfolio, supported by payroll, Instacredit, and US Used Cars. Operating result was MXN 534.1 million compared with MXN 556.1 million a year ago. Net income was MXN 396.5 million or MXN 1.0 per share compared with MXN 406.2 million or MXN 1.0 per share a year ago. Return on average assets was 4.5% compared with 5.7% a year ago. Return on average stockholders' equity was 17.6% compared with 22.8% a year ago.
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 
