Banco Santander México Reports Third Quarter 2022 Net Income of Ps.8,188 Million

• Strong performance YoY in total loan portfolio growth, outpacing market performance, highlighting significant increase in individual loans. While loan volumes in the commercial portfolio were driven by a double-digit pick-up in middle-market and financial entities loans, despite soft SME loan demand.
• Total deposits remained relatively stable YoY. Term deposits were boosted by higher interest rate environment, while demand deposits reflected the Bank profitability focus. As a result of this estrategy, contribution of individuals in total deposits represented 38.2%, compared with 24.2% in 2016.
• Net income increased 69.1% YoY in 3Q22, mainly due to the solid increase in NII and fees, along with lower provisions for loan losses.

MEXICO CITY, Oct. 27, 2022 /PRNewswire/ -- Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (NYSE: BSMX; BMV: BSMX), ("Banco Santander México" or "the Bank"), today announced financial results for the three-month and nine-month periods ending September 30^th, 2022. Banco Santander México reported net income of Ps.8,188 million in 3Q22, representing increases of 69.1% YoY and 18.7% QoQ. On a cumulative basis, net income for 9M22 reached Ps.20,199 million, representing a 57.4% YoY increase.