Mexico’s banking sector reported a 20.2% increase in earnings in 2010, with an average return on equity of 13.5%. With the country being tipped as the region’s potential star performer this year, Mexican banks should continue to enjoy strong earnings as lending rates recover to pre-crisis levels.
Statistics published by Banxico, the central bank, indicate that the sector earned Ps74.7 billion ($6.2 billion), thanks largely to a 20.4% fall in financing costs and a decline in risk reserves of 30%.
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