Q4 2024 Gentera SAB de CV Earnings Call Transcript
Key Points
- Gentera SAB de CV (MEX:GENTERA) achieved a historic record in customer base size, reaching 5.7 million people, an 11.9% increase from the previous year.
- The company's loan portfolio grew by 27% to MXN82.7 billion, surpassing their guidance of 18% to 20% growth.
- Net income reached a historic maximum of MXN6,462 million, representing a 27.9% annual growth.
- Banco Compartamos portfolio grew by 29%, with individual lending products showing an impressive 48% growth.
- The insurance business saw a 43% annual growth in active policies, contributing 10% to Gentera's total income.
- The business in Peru faced challenges, with only a slight growth of 3.6% in clients and 1.5% in portfolio in local currency.
- Cost of risk for 2024 was high at 12.9%, driven by strong growth and challenges in Peru.
- Operational expenses increased by 16.4%, partly due to a larger sales force and infrastructure upgrades.
- NPLs increased slightly, closing at 3.93%, with expectations to move around 4% in 2025.
- Origination costs have increased, particularly with faster growth in individual products, impacting overall expenses.
Good morning and welcome to the fourth-quarter of 2024 Genterra conference call. Now I would like to turn the call to Mr. Enrique Barrera, Investor Relations Officer of the company. Sir, you may begin.
Good morning. Thank you all for joining us and for your continued interest in Gentera. I'm Enrique Barrera, the company's investor relations officer. I'm very pleased to introduce our management team. With us today are Mr. Enrique Ramirez, Gentera's Chief Executive Officer, Mario Langarica, Gentera's Chief Financial Officer.
Enrique Ramirez and Mario Langarica will present Gentera results for the fourth-quarter period and the full-year 2024 as per the report that was issued yesterday. And will actively participate in the Q&A session of this conference call.
As a reminder, now that we are holding our conference call via Zoom, it is important to highlight that if you want to ask questions during this Q&A session, this will only be taken if you are connected via this
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