Crédito Real, S.A.B. de C.V., Sociedad Financiera de Objeto Múltiple, Entidad Regulada Announces Earnings Results for the Third Quarter Ended September 30, 2018
October 25, 2018 at 11:00 am EDT
Share
Crédito Real, S.A.B. de C.V., Sociedad Financiera de Objeto Múltiple, Entidad Regulada announced earnings results for the third quarter ended September 30, 2018. For the quarter, the company reported interest income of MXN 2.6 billion, increasing 24% when compared to the third quarter of 2017. This increase was mainly due to the growth in the loan portfolio, mostly supported by the credit origination in Mexico. Net income reached MXN 506 million, an annual increase of 25.4% partly due to the change in the accounting treatment of the interest related to the perpetual notes, which reflected a positive impact of MXN 58 million. ROAE stood at 13.3% during the quarter.
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 Regulada Announces Earnings Results for the Third Quarter Ended September 30, 2018
CRÉDITO REAL, S.A.B. DE C.V., SOCIEDAD FINANCIERA DE OBJETO MÚLTIPLE, ENTIDAD NO REGULADA 
