|End-of-day quote - 09/30|
Banco Santander Mexico S A Institución de Banca Múltiple Grupo Financiero Santander Mexico : México announces that it has created prudential provisions for credit risks of Ps.3,915 million.
|07/29/2020 | 05:25pm|
BANCO SANTANDER MÉXICO ANNOUNCES THAT IT HAS CREATED PRUDENTIAL PROVISIONS
FOR CREDIT RISKS OF Ps.3,915 MILLION
Mexico City, Mexico on July 29, 2020 - Banco Santander México, S.A., Institución de Banca
Múltiple, Grupo Financiero Santander México (BMV: BSMX; NYSE: BSMX) ("Banco Santander México" or the "Bank"), one of Mexico's leading banking institutions, announced today that, as of the end of June 2020, it had created provisions for credit risks in an amount of Ps.3,915 million in connection with a potential deterioration in the credit quality of its loan portfolio, which the Bank believes it may see reflected in its financial results in the next 3 to 12 months as a result of the negative impact on economic activity being generated by the COVID-19pandemic.
ABOUT BANCO SANTANDER MÉXICO (NYSE: BSMX BMV: BSMX)
Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (Banco Santander México), one of Mexico's leading banking institutions, provides a wide range of financial and related services, including retail and commercial banking, financial advisory and other related investment activities. Banco Santander México offers a multichannel financial services platform focused on mid- to high-income individuals and small- to medium-sized enterprises, while also providing integrated financial services to larger multinational companies in Mexico. As of March 31, 2020, Banco Santander México had total assets of Ps.1,802 billion under Mexican Banking GAAP and more than 18.3 million customers. Headquartered in Mexico City, the Company operates 1,211 branches and offices nationwide and has a total of 19,638 employees.
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Banco Santander México
Banco Santander (México) SA Institución de Banca Múltiple Grupo Financiero published this content on 29 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2020 21:25:05 UTC