Banco del Bienestar records a 61% drop in profits

Banco del Bienestar reported a 61% drop in its net profits at the end of the second quarter of 2025, with a profit of 756 million pesos, compared to the 1.941 billion obtained in the same period last year.

According to its April-June financial report, the institution recorded lower interest income, down 711 million pesos compared to the second quarter of 2024, primarily due to the 300 basis point cut in the Bank of Mexico's (Banxico) benchmark rate.

During the quarter, Banco del Bienestar reported increased pressures in various spending areas, related to its expansion program and the operation of new branches.

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One of the most significant increases was in the valuables transfer service, which totaled 271 million pesos. , which represents a 212% increase compared to the second quarter of 2024, associated with the logistics of social program payments.

Meanwhile, spending on direct short-term benefits grew 13% annually, equivalent to 69 million pesos, driven by the payment of salaries and benefits to temporary staff hired at new branches.

Meanwhile, spending on technology and connectivity increased by 62 million pesos, 10% compared to the same period last year, due to higher expenditures on equipment, installation, maintenance, and monitoring of branch infrastructure.

In contrast, some items reflected decreases, such as surveillance and security, with a reduction of 314 million pesos (65%) compared to the second quarter of 2024, result of lower provisions for physical and logical security services, as well as monitoring.

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There was also a 27% decrease in depreciation of 123 million pesos, resulting from adjustments to the fixed assets module acquired as part of the expansion plan.

In the area of taxes and miscellaneous duties, a decrease of 166 million pesos, or 66% year-over-year, was reported, related to lower non-creditable VAT payments and provisions for payroll taxes.

On July 19, Banco del Bienestar celebrated its sixth anniversary. , highlighting its network of more than 3,000 branches dedicated to the payment of social programs in the country.

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