Gentera reported unaudited third-quarter net income of MXN 2.342 billion (about US$126 million), an 8.6% rise from a year earlier, even as past-due loans climbed to 4.57% of its loan book. The Mexican financial group behind Banco Compartamos published its results on 21 October for the quarter ended 30 September.
The group’s loan book reached MXN 95.22 billion (about US$5.11 billion), up 8.5% over the year. Interest income rose 6.7% to MXN 13.247 billion (about US$711 million). Operating expenses increased 4.8% to MXN 6.369 billion (about US$342 million), below Gentera’s original full-year expectation.
Profit and repayment pressure
Gentera attributed MXN 2.261 billion (about US$121 million) of third-quarter net income to shareholders, a 7.7% increase, or about MXN 1.43 per share (about US$0.08). Net income for the first nine months of 2026 reached MXN 7.189 billion (about US$386 million), up 10.9% from the same period a year earlier.
Income rose as overdue credit increased. Stage 3 loans, Gentera’s measure of past-due credit, reached 4.57% of its loan book, compared with 3.43% a year earlier and 4.04% in the second quarter. Provisions for expected loan losses climbed 31.7% to MXN 3.753 billion (about US$201 million).
Gentera’s cost of risk reached 15.8%, against 13.3% a year earlier. Reserves covered 206.4% of stage 3 loans. Net interest margin after provisions slipped to 28.5% from 30.6% a year earlier.
Banco Compartamos, Gentera’s largest unit, holds about 65% of the group’s loans. Its Mexican stage 3 loan ratio rose to 5.20%, from 3.51% a year earlier. The bank’s loan book fell 1.0% from the second quarter to MXN 61.912 billion (about US$3.32 billion), though it grew 6.5% over 12 months. Net income rose 1.4% to MXN 1.473 billion (about US$79 million).
Growth across the group
Chief executive Enrique Majós said Gentera was choosing prudence over growth, and that measures introduced since the second quarter were helping contain the past-due ratio. He said double-digit loan growth in Mexico would return when more evidence showed credit quality had stabilised, but gave no date.
Compartamos Banco in Peru grew its loan book 11.6% to MXN 26.431 billion (about US$1.42 billion), or 11.9% in local currency. Net income rose 20.0% to MXN 468 million (about US$25 million). ConCrédito, a Mexican consumer lender that sells through about 84,000 distributors, reported a record loan book of MXN 6.878 billion (about US$369 million). Its loans grew 14.4%, while net income rose 40.6% to MXN 268 million (about US$14 million).
Gentera said it served a record 6.87 million people in Mexico and Peru. That figure includes insurance customers and ConCrédito end users, not only borrowers. The group also runs an insurance business and a network of payment agents.
Cash and financial investments reached MXN 20.787 billion (about US$1.12 billion), up 35.7% from a year earlier. Equity equalled 31.5% of total assets. Return on average equity was 24.5%, down from 26.0% a year earlier, while Banco Compartamos reported a capitalisation ratio of 34.2%.
Dividends and reporting limits
Gentera is paying a dividend approved on 10 April in two parts. The second and final payment, about MXN 1.64 billion (about US$88 million), is due on 13 November.
The results follow Mexican banking rules and use pesos. The figures are unaudited and may change in annual accounts. The report didn’t establish whether the past-due ratio had peaked or when faster lending in Mexico would resume. It also didn’t report the company’s share-price reaction, and no analyst consensus was available. The results report identifies no union, strike, or organized worker response.
- gentera
- banco compartamos
- mexico
- quarterly earnings
- bad loans
- consumer lending
- concrédito
- peru