Seguros y Pensiones: The Second Most Profitable Segment for Mexican Financial Groups

Web Editor

August 18, 2025

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Overview of Financial Group Performance in Mexico

In Mexico, the banking business is the primary source of profits for financial groups. However, the insurance and pension segment remains the second most lucrative sector, as evidenced by recent data from the Mexican National Banking and Securities Commission (CNBV).

First Half of 2025 Financial Performance

According to the CNBV, the net profits of over 20 financial groups operating in Mexico reached approximately 160,000 million pesos by the end of the first half of 2025. The banking sector contributed more than 134,000 million pesos to this total, while the insurance and pension segment came in second. Other segments, such as brokerage houses, also played a role.

Leading Financial Groups in Mexico

BBVA

BBVA, the largest financial group in Mexico, reported a profit of around 57,500 million pesos by the end of June, according to official information. The banking division contributed more than 49,000 million pesos to this total, while the insurance and pension arm added over 7,500 million pesos. The brokerage house contributed 400 million pesos.

Banorte

Banorte’s savings and prevision division (including Afore) contributed more than 5,800 million pesos to the group’s nearly 30,000 million pesos profit in the first half of the year. The banking division contributed over 22,500 million pesos, and the brokerage house added 712 million pesos.

Inbursa

Inbursa reported a profit exceeding 16,000 million pesos by the end of the first half of 2025. The banking division contributed 11,751 million pesos, while the insurance and pension arm added over 3,000 million pesos. The brokerage house contributed 525 million pesos.

Banamex

Banamex, as a group, earned slightly over 9,600 million pesos by the end of the first half of 2025. Of this amount, nearly 6,800 million pesos came from the banking division, and 1,615 million pesos were generated by the insurance and pension arms. The Afore contributed 1,326 million pesos.

HSBC

HSBC’s group profit was nearly 5,000 million pesos during this period. The banking division contributed 4,214 million pesos, while the insurance arm added 424 million pesos. The brokerage house contributed a mere 37 million pesos.

Key Questions and Answers

  • Q: Which financial segment is the most profitable for Mexican groups? A: Banking is the most lucrative segment for Mexican financial groups.
  • Q: What is the second most profitable segment for these groups? A: The insurance and pension segment is the second most profitable.
  • Q: Who are the leading financial groups in Mexico? A: BBVA, Banorte, Inbursa, Banamex, and HSBC are among the largest financial groups in Mexico.
  • Q: How much profit did BBVA make in the first half of 2025? A: BBVA reported a profit of around 57,500 million pesos.
  • Q: What was the profit contribution of each division within BBVA? A: The banking division contributed more than 49,000 million pesos, while the insurance and pension arm added over 7,500 million pesos.