Message from the Chief Executive
Officer of Grupo Financiero B×+

To our shareholders and employees,

2018 was a year of high volatility for Mexico and the world; several international and local events generated uncertainty, mainly in the economic and political context. Our country went through the largest electoral period in history, which led to a change not only of government, but of regime.

In the international context, we faced factors that complicated the market and that undoubtedly marked 2018: the USMCA negotiations, the renewal of the Free Trade Agreement with Europe, Brexit, the debt problem in Italy and the commercial war between China and the United States of America, to mention some of the most important.

Therefore, in 2018 the financial sector in Mexico, and consequently Grupo Financiero B×+, faced significant challenges; however, with the discipline and experience that is embedded in our DNA, we continued developing our 2014-2020 Strategic Plan, emphasizing several long-term plans related to our talent, such as incorporating the first generation of the Semilleros B×+ program and the Great Place to Work methodology.

Regarding technological innovation, we made significant progress through several actions; we launched the new platform for Seguros B×+, CreeSer+, we evolved our B×+ Online Banking, and we are at the forefront of digital applications with our platforms for smartphones, B×+ Móvil.

From the financial point of view, in 2018 our portfolio exceeded $40 billion pesos, an 11.2% annual increase, compared to a 9.3% growth in the industry, highlighting the significant growth of 69% in mortgage.

Concerning deposits, we closed with $28.4 billion pesos, which represents a 22.8% increase, compared to the market's 6.85%. A fundamental piece of this outstanding result is the restructuring of the B×+ Fondos offer, which increased by 25.3%.

We have supported the accelerated expansion rate with a special focus on the assets’ quality, from the credits' origination process, the way we operate them, to their recovery. In 2018 we maintained our delinquency rate at 2.02%, below the industry’s average of approximately 2.22%.

Due to our portfolio growth, adequate management of funding costs, and monitoring of the active rates, we increased the financial margin by 31%. Our total revenues increased 24% and operating income grew 59%, against 2017. In 2018 we reduced our efficiency index, that went from 71.62% to 63.57%, which indicates we are on the right track.

In Seguros B×+, we increased the accrued net premiums by 26% and the gross profit by 16%, compared to the previous year.

We remodeled our Tuxtla Gutierrez and Monterrey branches and we expanded Queretaro and Guadalajara, consequently, we strengthened the business centers to guarantee a strategic attention for our customers.

2018 was the beginning of an innovative vision towards new horizons, which will imply working with renewed commitment, passion, effective coordination and optimism. We have all the essential assets to continue growing and offering sustained value to our customers, employees and shareholders.

Reach further!

Tomás Ehrenberg Aldford
Chief Executive Officer of Grupo Financiero B×+


2018 indicated the beginning of an innovative vision towards new horizons, which will imply working with renewed commitment, passion, effective coordination and optimism