The financial performance of Mexico’s banks in 2022 was driven by the country’s economic growth and increased private consumption. The appreciation of the Mexican peso against the dollar, the currency in which the ranking’s results are expressed, also supported the country’s results in the Top 1000 World Bank ranking.
All seven domestically owned Mexican banks in the Top 1000 increased their pre-tax profits (PTP) by double-digit percentage increases. However, Grupo Financiero Citibanamex, which does not appear in the main ranking as a foreign-owned subsidiary (FOS), saw a PTP drop of 4.08%.
