Introduction to Finsus and its Transformation into a Bank
Finsus, one of the Sociedades Financieras Populares (Sofipos) aiming to become a bank, announced during an investor assembly that it has reached its break-even point. This milestone is crucial for obtaining a banking license, according to Carlos Marmolejo, Finsus’s CEO.
Background on Finsus
Finsus is currently the second-largest Sofipo in terms of assets. It submitted its banking license application to the Comisión Nacional Bancaria y de Valores (CNBV) in October 2024. Since then, the entity has started making adjustments to meet banking regulatory standards, including assessing its loan portfolio.
Achieving Financial Equilibrium
Marmolejo highlighted that Finsus reached this point after three years of new investor incorporation, during which the company’s capital social grew from 100 million pesos to over 3,500 million pesos in contributions.
Key Financial Indicators
- Non-performing Loans: Finsus maintains a non-performing loans ratio of 1.25%, which is below the sector average exceeding 10%.
- Capital Adequacy Ratio: The entity has consistently maintained capital adequacy ratios above the required levels for over three and a half years, thanks to efficient capital management that supports sustainable growth.
Sustainable Business Model
Marmolejo emphasized the importance of sustainable business models for financial institutions to maintain cost control and ensure consistent profitability over time, even in low-interest rate scenarios.
Cost Management and Interest Rates
Marmolejo explained that Finsus focuses on cost efficiency to offer fair interest rates on loans. The entity maintains consistent liquidity gaps and loan durations, capturing funds for the same duration it lends them, ensuring stability.
Credit Strategy
Finsus will continue focusing on corporate lending, ensuring resource stability and avoiding irresponsible client acquisition. Their model prioritizes responsible finances and banking, capturing public funds and directing them to businesses capable of responsible repayment.
Key Questions and Answers
- What is Finsus’s current status? Finsus has reached its break-even point, with total income equaling total costs. This milestone is essential for obtaining a banking license.
- What challenges has Finsus faced? Finsus has navigated a competitive environment marked by the “interest rate war,” requiring prudent operation.
- What is Finsus’s credit strategy? Finsus focuses on corporate lending, avoiding mass consumer credit and prioritizing responsible client acquisition.
- How does Finsus manage costs and interest rates? Finsus maintains cost efficiency to offer fair interest rates, ensuring stability through consistent liquidity management.
