Earnings release
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For additional information, please contact: Enrique Barrera Flores, Investor Relations Officer. Brenda García Cárdenas, Investor Relations; Daniela Galicia Cabrera, Investor Relations. Mail: bregarcia@gentera.com.mx; sgalicia@gentera.com.mx; enbarrera@gentera.com.mx El contenido de esta comunicación es confidencial para uso exclusivo del destinatario, por lo que se prohíbe su divulgación total o parcial a cualquier tercero no autorizado. GENTERA REPORTS 1Q25 RESULTS Mexico City, Mexico – April 23, 2025 – GENTERA S.A.B. de C.V. (“GENTERA” or “the Company”) (BMV: GENTERA*) announced today non-audited consolidated financial results for the first quarter ended March 31, 20 25. Figures were prepared in accordance with requirements from the National Banking and Securities Commission (CNBV) and are expressed in nominal Mexican pesos (Ps.). 1Q25 Highlights: Loan Portfolio stood at Ps. 82,725 million, representing a 26.3% annual growth, and servicing a record number of 5.8 million people. • Total Loan Portfolio reached Ps. 82,725 million. Total Loan Portfolio broken down by subsidiary was: • Banco Compartamos S.A., I.B.M. (Mexico) (Banco Compartamos) loan portfolio reached a record of Ps. 53,456 million, a 27.0% growth compared to 1Q24. • Compartamos Banco, S.A. Perú stood at Ps. 23,925 million, a 25.9% growth compared to 1Q24 (in local currency loan portfolio grew 0.6% in its annual comparison). • ConCrédito (Mexico) achieved a record loan portfolio of Ps. 5,315 million, a 21.4% growth compared to 1Q24. • Net income for 1Q25 stood at a record level of Ps. 2,221 million, representing a 47.3% increase compared to Ps. 1,508 million reached in 1Q24. • Controlling Company participation in 1Q25 reported a Net Income of Ps. 2,106 million, a 49.2% growth compared to Ps. 1,412 million reported in 1Q24. • Cash and investments in financial instruments in GENTERA stood at Ps. 15,670 million in 1Q25, compared to Ps. 14,952 million in 1Q24, featuring sound liquidity levels at its different subsidiaries: • Banco Compartamos stood at Ps. 6,730 million. • Compartamos Banco Perú stood at Ps. 4,262 million. • ConCrédito stood at Ps. 1,866 million. • Capital / Total Assets in Gentera for 1Q25 stood at 32.9%. • Capital Adequacy Ratio (ICAP), 31.2% in Banco Compartamos. • Solvency Ratio, 21.3% in Compartamos Banco Perú. • Capital/Total Assets at 46.5% in ConCrédito. • On April 1 1, 2025 , at GENTERA’s Annual Shareholders’ Meeting a dividend payment equivalent to 40% of the Net Income generated in GENTERA's participation in 2024 results was approved. The dividend amounts to Ps. 2,401.8 million and will be paid in two installments. The first payment equivalent to 50% will be paid no later than May 16, 2025, and the remainder 50% will b e paid no later than November 28, 2025. • Controlling ROE in 1Q25 stood at 26.3% compared to 21.4% reached in 1Q24; ROE considering non-controlling interest stood at 25.8% compared to 21.1% in 1Q24. • ROA in 1Q25 reached 8.3%, an improvement compared to 6.8% reached in 1Q24.
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GENTERA 1Q25 Results 2 • Loan Portfolio with credit risk stage 3 for 1Q25 stood at 3.73%, compared to NPL at 3.57% in 1Q24 and 3.93% reached in 4Q24. Coverage Ratio for 1Q25 stood at 216.6%. • On April 11, 2025 , GENTERA announced the execution of a preparatory agreement letter for the potential acquisition of the remaining ~25.1% equity interest in ConCrédito not currently held by the company. The transaction amount is expected to be up to approximately $2,495 million pesos and remains subject to further negotiations between the parties, as well as the corresponding corporate and regulatory approvals. • ATERNA had at the end of 1Q25, 16.6 million active insurance policies. During 1Q25, the amount of premiums stood at Ps. 2,117 million, representing an 18.6% growth compared to1Q24. • YASTAS in 1Q25 executed 7.1 million total operations , 8.6% more compared to 1Q24. At the end of 1Q25, YASTAS had a network of 5,357 affiliates, a 12.0% contraction compared to 1Q24, and a 1.3% increase compared to 4Q24, aiming to improve the profile of the businesses affiliated to Yastás. • Gentera Social Responsibility Fund and Fundación Compartamos . At the beginning of year 2025, Fundación Compartamos continues working to bring educational opportunities to people in vulnerable conditions. At the end of 1Q aligned with - Sustainable Development Goal 4 -, more than 400 people were benefited through educational partnerships in Mexico. Through donations received in the branches of Banco Compartamos, we also contribute to early childhood by supporting organizations that serve children ages 0 to 6, and through donations from ConCrédito “Entrepreneurs” we support organizations that serve children with cancer. Additionally, during 1Q25, multiple volunteer activities have been carried out in Mexico and Peru, which have made an impact on more than 37,000 people in vulnerable situations, this significant result is achieved thanks to the efforts of more than 11,000 Gentera’s employees who have completed at least one volunteer activity. As part of this significant participation, more than 11,700 Gentera’s employees have made donations to Fundación Compartamos to continue promoting education and early childhood projects. • Shares outstanding as of March 31, 2025, amounted to 1,579,243,876. Comments from Mr. Enrique Majós, GENTERA’s CEO: We are very enthusiastic to communicate that we have started year 2025 on a strong note, delivering solid results from both an operational and financial standpoint. At the conclusion of the first quarter, we kept the loan portfolio at the same strong level seen at the end of year 2024 at Ps. 82.7 thousand million (26.3% YoY growth) and extending financial services to more than 5.8 million people across Mexico and Peru. These solid results while maintaining solid risk management practices as evidenced by our NPL of 3.73%. Furthermore, our solid growth strategy and the strength of our diverse financial offerings have resulted in the best level of net income generated in a quarter in our history with Ps. 2,221 million, equivalent to an annual increase of 47.3%. Additionally, ROE and ROA for 1Q25 advanced on an annual basis, standing at 25.8% and 8.3%, respectively, which continues to demonstrate the efficiency and improvements of our operations we have been previously communicating. Other GENTERA’s subsidiaries continued delivering strong progress during the period, YASTAS concluded the first quarter with 5,357 affiliates, allowing us to provide access to financial transactions, service payments and hundreds of different transactions to a larger number of people in places with limited banking infrastructure, executing 7.1 million total operations, representing 8.6% more compared to 1Q24. Meanwhile, ATERNA’s active insurance policies finalize the 1Q25 with 16.6 million, attesting our co mmitment to meet the needs of the market through specialized insurance services. Looking forward, we see opportunities to continue growing in a solid manner on the back of GENTERA’s business model modernization. We will continue to drive our performance through strong execution of our strategy, providing top-class customer service, and prudent capital and risk management. This commitment is fundamental to our mission of improving the well-being of our clients by increasing financial inclusion. I would like to thank one more time to our employees, clients, and stakeholders for their trus t and support in the generation of Total Value, as we aim for greater achievements and sustainable growth in this 2025 and in coming years.
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GENTERA 1Q25 Results 3 9,345 9,693 10,211 10,983 11,206 1Q24 2Q24 3Q24 4Q24 1Q25 1Q25 Analysis & Results of Operations 1) In 1Q25 GENTERA served more than 5.8 million people. ~4.88 million clients from Credit, Savings, and Insurance Products, and additionally ConCrédito’s Entrepreneurs served ~934 thousand final users. In this table, employees in Banco Compartamos include employees from ATERNA and YASTAS. *Portfolio and Net Income are expressed in millions of Mexican Pesos. **67 Branches are inside a Service Office (same location). The analysis was prepared using consolidated figures and in accordance with Financial and Reporting Standards accepted in Mexico (IFRS-9). Variations are calculated for 1Q25 versus the same period of 2024 and 4Q24, unless otherwise stated. The reader must also consider FX fluctuations in our Peruvian subsidiary, Compartamos Banco Perú, for the comparable periods. Statement of Comprehensive Income. Interest income in 1Q25 was Ps. 11,206 million, a 19.9% increase compared to 1Q24, and a 2.0% increase compared to Ps. 10,983 million in 4Q24. Banco Compartamos represented the majority of GENTERA’s portfolio and interest income, comprising 64.6% and 71.8%, respectively . The second subsidiary with the highest contribution to this line was Compartamos Banco in Peru . It is also noteworthy that ConCr édito contributed 6.4% to GENTERA's portfolio and 7.7% to its interest income. The yield for GENTERA’s portfolio (considering Banco Compartamos, Compartamos Peru , and ConCrédito) during 1Q25 stood at 56.5%. Interest expense GENTERA’s interest expense stood at Ps. 1,859 million, a 1.7% increase compared to 1Q24, and a 2.8% expansion compared to 4Q24. Interest expense related to financing expenses represented Ps. 1,306 million in 1Q25, a 2.5% increase on a year-on-year comparison. Funding Cost Summary 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Total users of financial services 5,811,975 5,279,387 5,702,109 10.1% 1.9% Credit Clients + Users 5,274,586 4,906,178 5,203,315 7.5% 1.4% Portfolio* 82,725 65,521 82,742 26.3% 0.0% Net Income* 2,221 1,508 1,913 47.3% 16.1% NPLs / Total Portfolio 3.73% 3.57% 3.93% 0.16 pp -0.20 pp ROA 8.3% 6.8% 7.4% 1.5 pp 0.9 pp ROE 25.8% 21.1% 23.6% 4.7 pp 2.2 pp ROE Controlling 26.3% 21.4% 23.4% 4.9 pp 2.9 pp NIM 39.5% 39.4% 40.4% 0.1 pp -0.9 pp NIM after provisions 29.3% 30.3% 28.6% -1.0 pp 0.7 pp Efficiency Ratio 62.8% 67.6% 68.5% -4.8 pp -5.7 pp Operating Efficiency 20.2% 20.3% 22.4% -0.1 pp -2.2 pp Capital / Total Assets 32.9% 31.9% 31.4% 1.0 pp 1.5 pp Average Loan per Client 19,061 16,006 19,358 19.1% -1.5% Employees 27,455 25,178 27,101 9.0% 1.3% Service Offices** 553 548 553 0.9% 0.0% Branches 149 143 146 4.2% 2.1% (1) Interest Income (Ps. millions)
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GENTERA 1Q25 Results 4 30.3% 28.0% 28.6% 28.6% 29.3% 1Q24 2Q24 3Q24 4Q24 1Q25 • The interest expenses of Banco Compartamos in Mexico stood at Ps. 1,393 million in 1Q25 a 5.1% increase compared to Ps. 1,326 million in 1Q24 and 5.5% increase compared to Ps. 1,320 million in 4Q24 (this figure includes credit origination costs and the implicit interest related to leasing agreements, according to Financial Reporting Standards in Mexico and IFRS, which for this first quarter amounted Ps. 478 million). The interest expenses associated with financing grew 7.6% in comparison to the previous year; considering that interest-bearing liabilities grew ~ 16.1% on an annual comparison. • At the end of the quarter, 9.4% of Banco Compartamos liabilities (considering interbank liabilities and long-term debt issuances) were subscribed at fixed rate. • Compartamos Banco in Perú decreased its Interest Expenses line by 9.6% to Ps. 356.5 million versus 1Q24, when it stood at Ps. 394.5 million. If we exclude the effect of credit origination costs and the implicit interest related to leasing agreements, interest expenses related to financing expenses contracted 12.1%, from Ps. 327.9 million in 1Q24 to Ps. 288.1 million in 1Q25. Net Interest Margin GENTERA’s Net Interest Margin (N IM) for the first quarter of 2025 stood at 39.5%, which is slightly above the 39.4% reached in 1Q24. Margins are moving in a stable manner around 39%. The driver of this movement is attributed to a higher interest income in the period due to the strong loan portfolio performance of Banco Compartamos and ConCr édito; and due to the smaller growth in the Interest Expense Line (Considering Financing Expenses and Expenses linked to credit origination and the implicit interest related to leasing agreements) compared to previous quarters. It is important to bear in mind the impact that the size of productive assets (Cash and Loan Portfolio) have at the time this ratio is computed (Considering average numbers vs. end of period numbers), and the effect that the evolution of each credit methodology had in the interest income generation and thus in margins. Provisions for loan losses Provisions for loan losses reached Ps. 2,408 million during the quarter. This figure increased by Ps. 658 million, or 37.6%, when compared to 1Q24, and a 10.0% contraction compared to 4Q24. In its annual comparison the movements are explained mainly by the provisions required in Banco Compartamos due to the 27.0% portfolio growth experienced in this subsidiary during the period, and also is important to bear in mind that in 1Q24 the level of provisions were smaller due to the fact that during 4Q23 we booked specific prudential provisions related to Hurricane OTIS, and the performance of that portfolio evolved better in 1Q24 so the level of provisions originated in that specific quarter were smaller to what was originally anticipated. Cost of Risk for 1Q25 amounted to 11.6%, an improvement to the previous quarter when it stood at 13.5%. NIM after provisions (NII after provisions for losses / average yielding assets) for 1Q25 stood at 29.3%, compared to 30.3% in 1Q24 and 28.6% in 4Q24. Funding Cost 1Q25 1Q24 4Q24 Compartamos Banco (México) 9.8% 10.8% 10.2% Compartamos Banco (Perú) 5.5% 7.1% 5.8% NIM after provisions 1) 1) Net Interest margin after provisions / Average Yielding Assets NIM after provisions for 1Q25 stood at 29.3%.
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GENTERA 1Q25 Results 5 1,508 1,292 1,749 1,913 2,221 1Q24 2Q24 3Q24 4Q24 1Q25 Commissions and fee income The net effect between commissions charged and commissions paid in 1Q25 totaled Ps. 1,337 million, a 52.3% growth compared to 1Q24 when it stood at Ps. 878 million, and 15.9% contraction compared to 4Q24. These solid dynamics are mainly explained by the extraordinary results in the number of insurance policies sold in the different subsidiaries. o Commissions and Fee income are mainly explained by insurance fees , and in a lesser extent by penalty fees charged to clients with late payments , and different fees generated at Compartamos Banco in Perú, ConCrédito and Yastás, among others. o Commissions and fee expenses can be attributed primarily to the fees paid by GENTERA's subsidiaries to third-party banks or channels for the use of their networks in disbursing credits or collecting payments. Additionally, commissions paid to Yastas contribute to these expenses. Banco Compartamos clients enjoy the conve nience of accessing more than 45 thousand diverse channels through which they can carry out their transactions. Other Operating Income/Expenses during 1Q25 represented an income of Ps.364 million. This item reflected income from CrediTienda (ConCrédito’s online platform used to sell different products), as well as non-recurring income or expenses registered during the quarter. Operating expenses Operating expenses reached Ps. 5,426 million, a 20.1% increase versus Ps. 4,518 million in 1Q24, and an 5.7% contraction compared to 4Q24. The annual double-digit increase in expenses is mainly explained due to a larger number of loan officers, who, as you could see in our results, are attracting new customers, growing the portfolio in a more robust way and at the same time maintaining solid asset quality ; and also linked to strategic initiatives. We should expect a more normal level of Opex growth in the following quarters. Participation in Net Incom e from Non -Consolidated Subsidiaries stood at Ps. 0 million during the quarter. This item reflect s GENTERA’s minority contribution in the Companies in which it has been investing. For 1Q25, GENTERA presented Ps. 2,221 million in Net Income, a very solid 47.3% growth compared to Ps. 1,508 million in net income recorded in 1Q24 and 16.1% growth compared to the previous quarter. Controlling Company participation reported a Net Income of Ps. 2,106 million in 1Q25, a 49.2% growth compared to 1Q24. Earnings per Outstanding Share from the controlling company in 1Q25 stood at ~$1.33. Net Income (Ps. millions)
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GENTERA 1Q25 Results 6 65,521 68,863 75,401 82,742 82,725 3.57% 3.23% 3.56% 3.93% 3.73% 1Q24 2Q24 3Q24 4Q24 1Q25 Other comprehensive income stood at negative Ps. 153 million at the end of 1Q25. This line includes revenues, expenses, gains, and losses that have yet to be realized. For this 1Q25 are mainly attributable to FX variations in the investment that GENTERA has in Compartamos Banco in Perú. Comprehensive Result stood at Ps. 2,068 million in 1Q25, where Controlling interest accounted for Ps. 1,952 million and non-Controlling interest represented Ps. 116 million. Statement of Financial Position. Cash and investments in financial instruments. Cash and investments stood at Ps. 15,670 million at the end of 1Q25, a 4.8% increase compared to 1Q24, and 6.9% increase compared to 4Q24. At the end of 1Q25, 42.9% of the cash position corresponded to Banco Compartamos with Ps. 6,730 million held in highly liquid assets, while 27.2%, equivalent to Ps. 4,262 million, corresponded to Compartamos Banco in Perú, and 11.9%, equivalent to Ps. 1,866 million, corresponded to ConCrédito; the remaining corresponded to GENTERA’s other subsidiaries. Loan Portfolio reached Ps. 82,725 million in 1Q25, a 26.3% growth compared to the figure reported in 1Q24, explained by the solid dynamics seen in GENTERA’s financial subsidiaries in Mexico which grew in a solid manner during the period. The Loan Portfolio was comprised as follows: 64.6% at Banco Compartamos, 28.9% at Compartamos Banco in Peru, and 6.4% in ConCrédito. Credit Quality (Loan Portfolio with credit risk stage 3/Loan Portfolio) Consolidated non-performing loans (Loan Portfolio with credit risk stage 3), considering the three financial subsidiaries, reached 3.73% in 1Q25, a larger level compared to 3.57% recorded in 1Q24 and an improvement compared to 3.93 % registered in 4Q24. The NPL level recorded in 1Q25 is better than expected for this year, which is to be moving around 4.0%, and according to the portfolio mix. Banco Compartamos’ policy is to write-off loans at 180 days behind schedule. As we have signaled before, GENTERA acquired vast knowledge and experience in originating and monitoring credits in recent years, and at the same time it is now using in a more active manner all the data that it has generated in the past years to become a more efficient financial institution. Loan Portfolio (Ps. millions) & NPL Gentera attained its largest net income in a quarter at Ps. 2,221 million. The Loan Portfolio kept its solid levels during 1Q25.
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GENTERA 1Q25 Results 7 3.57% 3.23% 3.56% 3.93% 3.73% 220.3% 249.8% 230.8% 209.5% 216.6% 1Q24 2Q24 3Q24 4Q24 1Q25 21.1% 17.8% 23.2% 23.6% 25.8% 6.8% 5.7% 7.3% 7.4% 8.3% 1Q24 2Q24 3Q24 4Q24 1Q25 ROE ROA Performance Ratios and Metrics 1Q25 coverage ratio was 216.6%, representing a very strong level, which is in line with the prudent approach that the Company has followed and according to Mexican financial regulations. *Loan portfolio with credit risk stage 3. Goodwill amounted Ps. 4,610 million and was mainly related to the acquisition of ConCrédito with Ps. 3,890 million (includes majority and minority stakes) and Compartamos Banco in Perú with Ps. 664 million, which were recorded as assets. ROAE/ROAA During 1Q25, GENTERA recorded a return on average equity (ROAE) of 25.8% and a return on average assets (ROAA) of 8.3%. Controlling ROE stood at 26.3%, compared to 21.4% registered in 1Q24. 1Q24 PRODUCT Portfolio NPL NPL Ratio Write- Offs Portfolio NPL NPL Ratio Write- Offs Portfolio NPL NPL Ratio Write- Offs Group Methodology 32,951 1,170 3.55% 885 28,019 874 3.12% 608 34,477 1,225 3.55% 698 C. Individual 15,360 705 4.59% 416 9,935 365 3.67% 227 14,100 641 4.55% 329 C. CA Plus 5,113 204 3.99% 139 4,132 141 3.43% 96 4,784 204 4.26% 103 C. Otros 32 1 0.00% 0 0 0 0.00% 0 34 0 0.00% 0 Individual Methodology 20,505 910 4.44% 555 14,067 506 3.60% 323 18,918 845 4.47% 432 Banco Compartamos 53,456 2,080 3.89% 1,440 42,086 1,380 3.28% 931 53,395 2,070 3.88% 1,130 Group Methodology Peru 6,180 154 2.49% 153 4,890.1 141 2.88% 160 6,434 163 2.53% 307 Individual Methodology Peru 17,745 740 4.17% 495 14,111 746 5.28% 236 17,736 858 4.84% 266 Compartamos Banco in Perú 23,925 894 3.74% 648 19,001 887 4.67% 396 24,169 1,021 4.22% 573 Individual Methodology ConCrédito 5,315 85 1.60% 379 4,378 70 1.60% 306 5,113 132 2.58% 342 ConCrédito 5,315 85 1.60% 379 4,378 70 1.60% 306 5,113 132 2.58% 342 Yastás 29 24 84.25% 34 56 1 1.80% 54 65 33 51.39% 24 Total 82,725 3,083 3.73% 2,502 65,521 2,338 3.57% 1,687 82,742 3,255 3.93% 2,069 4Q241Q25 Coverage Ratio & NPL*
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GENTERA 1Q25 Results 8 GENTERA Consolidated Statement of Comprehensive Income For the three-month period ended March 31, 2025, and 2024, and December 31, 2024 (In millions of Mexican pesos) GENTERA Consolidated Statement of Financial Position As of March 31, 2025, and 2024, and December 31, 2024 (In millions of Mexican pesos) Note: Financial Statements are in accordance with Financial and Reporting Standards accepted in Mexico which from 1Q22 and onwards converge with IFRS-9. 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Interest income 11,206 9,345 10,983 19.9% 2.0% Interest expense 1,859 1,828 1,809 1.7% 2.8% Financing expense 1,306 1,274 1,342 2.5% -2.7% Expense of credit origination and leasing 553 554 467 -0.2% 18.4% Net Interest Income 9,347 7,517 9,174 24.3% 1.9% Provisions for loan losses 2,408 1,750 2,675 37.6% -10.0% Net interest income after provisions 6,939 5,767 6,499 20.3% 6.8% Commissions and fee income 1,463 1,029 1,742 42.2% -16.0% Commissions and fee expense 126 151 152 -16.6% -17.1% Trading gains (losses) 1 (4) 3 N/C -66.7% Other operating income (expense) 364 40 299 N/C 21.7% Operating Expenses 5,426 4,518 5,752 20.1% -5.7% Net operating income 3,215 2,163 2,639 48.6% 21.8% Participation in the net result of other entities 0 0 0 N/C N/C Total income before income tax 3,215 2,163 2,639 48.6% 21.8% Income tax 994 655 726 51.8% 36.9% Net continued operations 2,221 1,508 1,913 47.3% 16.1% Discontinued operations 0 0 0 N/C N/C Net income 2,221 1,508 1,913 47.3% 16.1% Other comprehensive income (153) (130) 313 N/C N/C Comprehensive Result 2,068 1,378 2,226 50.1% -7.1% Net income attributable to: 2,221 1,508 1,913 47.3% 16.1% Controlling interest 2,106 1,412 1,762 49.2% 19.5% Non Controlling interest 115 96 151 19.8% -23.8% Comprehensive income attributable to: 2,068 1,378 2,226 50.1% -7.1% Controlling interest 1,952 1282 2,077 52.3% -6.0% Non Controlling interest 116 96 149 20.8% -22.1% 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Cash and investments in financial instruments 15,670 14,952 14,656 4.8% 6.9% Derivatives 1 15 4 -93.3% -75.0% Loan portfolio with credit risk stage 1 and 2 79,642 63,183 79,487 26.0% 0.2% Loan portfolio with credit risk stage 3 3,083 2,338 3,255 31.9% -5.3% Loan portfolio 82,725 65,521 82,742 26.3% 0.0% Deferred items 488 483 419 1.0% 16.5% Allowance for loan losses 6,678 5,151 6,819 29.6% -2.1% Loan portfolio, net 76,535 60,853 76,342 25.8% 0.3% Other accounts receivable, net 2,705 4,107 3,052 -34.1% -11.4% Properties, furniture and equipment, net 838 563 887 48.8% -5.5% Rights of use assets, properties, furniture and equipment, net 1,261 1,218 1,305 3.5% -3.4% Permanent investment 99 98 99 1.0% 0.0% Asset for deferred income taxes, net 3,090 2,403 2,992 28.6% 3.3% Other assets 2,923 2,642 2,695 10.6% 8.5% Goodwill 4,610 4,660 4,797 -1.1% -3.9% Total assets 107,732 91,511 106,829 17.7% 0.8% Deposits 21,811 18,744 21,710 16.4% 0.5% Long term debt issuance 13,274 13,453 13,201 -1.3% 0.6% Banking and other borrowings 25,858 21,068 26,715 22.7% -3.2% Obligations in securitization operations 1,278 1,183 1,274 8.0% 0.3% Lease liability 1,334 1274 1,379 4.7% -3.3% Other liabilities 8,697 6,481 9,018 34.2% -3.6% Deferred credits and advance collections 8 98 9 -91.8% -11.1% Total liabilities 72,260 62,301 73,306 16.0% -1.4% Capital stock 4,764 4,764 4,764 0.0% 0.0% Premium on sale of stock (455) (455) (455) 0.0% 0.0% Capital reserves 1,708 1,708 1,707 0.0% 0.1% Accumulated retained earnings 26,841 22,031 24,734 21.8% 8.5% Other comprehensive income 195 (1,027) 347 N/C -43.8% Total controlling interest 33,053 27,021 31,097 22.3% 6.3% Total non-controlling interest 2,419 2,189 2,426 10.5% -0.3% Total stockholders' equity 35,472 29,210 33,523 21.4% 5.8% Total liabilities and stockholders' equity 107,732 91,511 106,829 17.7% 0.8%
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GENTERA 1Q25 Results 9 The following section sets forth the non-audited financial results for the first quarter of 2025 (1Q25) of Banco Compartamos, S.A. I.B.M. (“Banco Compartamos” or “the Bank”), which is GENTERA’s main subsidiary in Mexico. All numbers are expressed in Mexican pesos. The report and analysis were prepared in accordance with Mexican banking regulations applicable to credit institutions and Financial and Reporting Standards accepted in Mexico which from 2022 and onwards converge with IFRS-9. Financial Highlights *Portfolio and Net Income are expressed in millions of Mexican pesos. **Some of the Service offices transformed into Branches. 67 Branches are within a Service Office (same location). 1Q25 Highlights: • Banco Compartamos reached a record number of clients, servicing 3.25 million credit clients at the end of 1Q25. • Total loan portfolio reached a record of Ps. 53,456 million, a 27.0% growth compared to 1Q24. • Net Income for 1Q25 reached a record figure at Ps. 1,545 million a 34.6% increase compared to 1Q24. • Capital Adequacy Ratio (ICAP) stood at 31.2%, maintaining a very robust level. The level reached at the end of the quarter is well above regulation and the average ICAP presented by the Banks in Mexico. • Loan portfolio with credit risk stage 3 (NPL) stood at 3.89% in 1Q25, compared to 3.28% reached in 1Q24, and 3.88% in 4Q24. • ROA for 1Q25 was 10.1%, compared to 9.1% in 1Q24. • ROE for 1Q25 was 37.4%, compared to 34.1% in 1Q24. Summary 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Clients 3,253,492 3,048,081 3,218,455 6.7% 1.1% Portfolio* 53,456 42,086 53,395 27.0% 0.1% Net Income 1,545 1,148 1,205 34.6% 28.2% NPLs / Total Portfolio 3.89% 3.28% 3.88% 0.61 pp 0.01 pp ROA 10.1% 9.1% 8.3% 1.00 pp 1.80 pp ROE 37.4% 34.1% 30.9% 3.3 pp 6.5 pp NIM 46.3% 47.6% 47.9% -1.3 pp -1.6 pp NIM after provisions 36.1% 40.1% 36.0% -4.0 pp 0.1 pp Efficiency Ratio 62.3% 66.7% 70.7% -4.4 pp -8.4 pp Operating Efficiency 24.1% 26.0% 27.7% -1.9 pp -3.6 pp Capital adequacy ratio (ICAP) 31.2% 31.8% 29.0% -0.6 pp 2.2 pp Capital / Total Assets 28.0% 27.1% 26.1% 0.9 pp 1.9 pp Average Loan (Ps.) 16,430 13,807 16,590 19.0% -1.0% Employees 18,300 16,512 18,103 10.8% 1.1% Service Offices** 430 429 430 0.2% 0.0% Branches 149 143 146 4.2% 2.1%
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GENTERA 1Q25 Results 10 40.1% 37.6% 38.2% 36.0% 36.1% 1Q24 2Q24 3Q24 4Q24 1Q25 6,858 7,269 7,590 7,863 8,045 1Q24 2Q24 3Q24 4Q24 1Q25 Interest income reached Ps. 8,045 million in 1Q25, a solid 17.3% increase compared to 1Q24 and 2.3% increase compared to 4Q24 when it stood at Ps. 7,863 million. The Interest Income reached in 1Q25 at Ps. 8,045 million marked a record level for any quarter in our history. Interest expenses Interest expenses grew 5.1% to reach Ps. 1,393 million, compared to Ps. 1,326 million in 1Q24, and increased 5.5% compared to Ps. 1,320 million in 4Q24. The Ps. 1,393 million recorded in this line in 1Q25 already include ~Ps. 478 million in credit origination costs and the implicit interest related to the leasing agreements, according to Financial Reporting Standard s in Mexico and IFRS . It is important to signal that if we exclude the cost associated to credit origination and the implicit interest related to leasing agreements, interest expenses related to financing expenses were Ps. 915 million and grew 7.6% in its annual comparison. The Funding Cost, which includes liabilities and deposits from the public, stood at 9.8% in 1Q25, compared to 10.8% in 1Q24. As a result of the aforementioned, Banco Compartamos reported a Net Interest Income of Ps. 6,652 million, a 20.2% increase compared to 1Q24 and a 1.7% increase compared to 4Q24, respectively. NIM stood at 46.3% in 1Q25, compared to 47.6% one year ago. Provisions for loan losses Provisions for loan losses stood at Ps. 1,459 million, compared to Ps. 868 million reached in 1Q24. This 68.1% annual increase is explained by the robust 27.0% annual growth experienced in the portfolio; and also important to bear in mind that in 1Q24 the level of provisions were smaller due to the fact that during 4Q23 Banco Compartamos México booked specific prudential provisions related to potential impacts in the loan portfolio due to Hurricane OTIS, however the performance of that portfolio evolved better in 1Q24 , so the level of provisions originated in that specific quarter were smaller to what was originally anticipated. Cost of risk for 1Q25 stood at 10.9%. NII after provisions was Ps. 5,193 million, an 11.3% increase compared to Ps. 4,664 million in 1Q24, and a 5.7% increase compared to Ps. 4,912 million reached in 4Q24. NIM (Net Interest Margin) after provisions (NII after provisions for losses / average yielding assets) for 1Q25 was 36.1%, compared to 40.1% in 1Q24 and 36.0% reached in 4Q24. Net Interest Margin (after provisions)1) 1) Net Interest margin after provisions / Average Yielding Assets Interest Income (Ps. millions)
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GENTERA 1Q25 Results 11 1,148 1,010 1,388 1,205 1,545 1Q24 2Q24 3Q24 4Q24 1Q25 Commissions and other income • The net effect between commissions charged and commissions paid in 1Q25 totaled Ps. 712 million, considering Ps. 878 million in commissions and fee income and Ps. 166 million in commissions and fee expenses, representing an 89.9% increase compared to the net effect reached in 1Q24 at Ps. 375 million. The Commissions and Fee Income & Commissions and Fee Expense are distributed as follow: • Trading Gains/losses in 1Q25 stood at Ps. 2 million and is associated with the cash balance in U.S. dollars that Banco Compartamos holds to pay its contracts in that currency. • Other operating income/expense reflected an expense of Ps. 4 million for 1Q25. This item reflected non-recurring items, including: 1) other income related to different services and payment refunds; 2) expenses from the insurance business; 3) expenses linked to R&D; 4) IPAB Fees/Expenses that in the past were reflected in Operating Expenses and 5) donations; among other concepts that can generate income or expenses in each period. Operating expenses Operating expenses for 1Q25 increased 12.2% year-over-year to Ps . 3,680 million, primarily attributable to the new number of loan officers compared to the previous year , variable compensation, and other costs that reflect the inflation experienced, as well as other expenses related to different initiatives that Compartamos is executing in order to modernize its operation. Net Income Banco Compartamos reported a Net Income of Ps. 1,545 million, a 34.6% increase compared to 1Q24. Commissions and fee income: Ps. 878 million Commissions and fee expense: Ps. 166 million Late Payment Fee's 8% Life Insurance 90% Payment Channels 2% Commercial Banks 8% Payment Channels 53% Other Fee's 15% Yastás exclusivity commissions 24%
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GENTERA 1Q25 Results 12 42,086 44,753 48,565 53,395 53,456 3.28% 2.83% 3.36% 3.88% 3.89% 1Q24 2Q24 3Q24 4Q24 1Q25 Statement of Financial Position Cash an d investments in financial instruments stood at Ps. 6,730 million, compared to Ps. 6,735 million in 1Q24 and Ps. 5,510 million in 4Q24. The amount in this line corresponds to the funding (operational liquidity) required by Banco Compartamos to cover operating expenses, debt maturities, and loan portfolio growth . Cash and other investments are held in short -term instruments , where the counterparty risk is approved by the Board’s Risk Committee. Loan Portfolio (Ps. millions) & NPL Loan portfolio reached Ps. 53,456 million, a 27.0% increase compared to Ps. 42,086 million reported in 1Q24, and a slight 0.1 % increase compared to the portfolio reached at the end of 4Q24. The average outstanding balance per client in 1Q25 was Ps. 16,430, 19.0% above the Ps. 13,807 reported in 1Q24 and 1.0% smaller compared to Ps. 16,590 reported in 4Q24. Loan Products & Credit Quality The loan products offered by Banco Compartamos are comprised of two main categories (Group and Individual Methodologies): 1. Group Lending Methodology : Merchant Credit ( Credito Comerciante) and Women Credit (Credito Mujer) which are now part of the Group Credit “Fusion Grupal” (Fusion Grupal: This group lending product adapts to the demand of the customers and is a more flexible product to serve more clients. In this new product line is now reflected the customers and portfolio that Banco Compartamos served in the past with Credito Mujer and Credito Comerciante ), represented 61.6% of the total loan portfolio in 1Q25 with a consolidated Loan Portfolio with credit risk stage 3 (NPL) of 3.55% for 1Q25, compared to 3.55% in 4Q24, and 3.12% in 1Q24. 2. Individual Lending Methodology: Additional Plus Loans (Credito Adicional Plus); Personal Loans (Credito Individual) and other loans (otros), represented 38.4% of the total loan s portfolio in 1Q25 with a consolidated NPL of 4.44% in 1Q25, compared to 4.47% in 4Q24 and 3.60% in 1Q24. During 1Q25, total Loan Portfolio with credit risk stage 3 ( NPL) was 3.89%, compared to 3.88% in 4Q24 and 3.28% in 1Q24. Banco Compartamos’ policy is to write -off loans that are past due after 180 days. During the first quarter, write-offs reached Ps. 1,440 million. For 1Q25, the coverage ratio (provision for loan losses / non -performing loans) was 204.7%, compared to 219.3% in 1Q24. The allowance for loan losses is calculated using the methodology established by the CNBV, which requires a specific reserve amount for each originated loan and depending on its classification, the specific reserve coverage model is applied: Group Credits or Individual Credits. It is important to highlight that for our portfolio we apply each methodology according to the type of credit, for which as of 1Q25, ~62% corresponds to the group credit methodology.
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GENTERA 1Q25 Results 13 Total Liabilities During 1Q25, total liabilities reached Ps. 44,508 million, 17.6% larger compared to Ps. 37,850 million recorded during 1Q24. ~99.0% of B anco Compartamos’ liabilities are fully peso -denominated; therefore, there is no material FX exposure. It maintains a well-diversified funding mix with different sources as follows: i) Long-term debt issuances: Banco Compartamos is an active issuer in the Mexican debt market. As of March 31, 20 25, it had Ps. 13,274 million outstanding in long-term local bonds (Certificados Burs átiles Bancarios). ii) Strong capital base: 28.0% of total assets were funded with equity. iii) Credit lines with banks and other institutions: Banco Compartamos had Ps. 20,396 million in credit lines among various banking creditors (Development Banks and Commercial Banks). iv) Clients Deposits, On Demand Deposits , and Term Deposits for 1Q25 stood at Ps. 4,893 million, 13.0% larger than the Ps. 4,330 million recorded in 1Q24 and 3.0% larger compared to Ps. 4,752 million reached in 4Q24. At the end of 1Q25, Banco Compartamos had ~1.72 million debit accounts. Total Stockholders’ Equity The capitalization ratio was 31.2% at the end of the first quarter, a slightly smaller ratio compared to 31.8% in 1Q24. The current ratio continues to reflect the Bank’s strength and is well above the Mexican banking system standards and levels required by Basel III. Banco Compartamos reported Ps. 16,810 million in Tier I capital and risk-weighted assets of Ps. 53,965 million.
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GENTERA 1Q25 Results 14 Banco Compartamos, S.A., Institución de Banca Múltiple Statement of Comprehensive Income For the three-month period ended March 31, 2025, and 2024, and December 31, 2024 (In millions of Mexican pesos) Banco Compartamos, S.A., Institución de Banca Múltiple Statement of Financial Position As of March 31, 2025, and 2024, and December 31, 2024 (In millions of Mexican pesos) Note: In accordance with Financial and Reporting Standard s accepted in Mexico which from 1Q22 and onwards converge with IFRS-9. 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Interest income 8,045 6,858 7,863 17.3% 2.3% Interest expense 1,393 1,326 1,320 5.1% 5.5% Financing expense 915 850 939 7.6% -2.6% Expense of credit origination and leasing 478 476 381 0.4% 25.5% Net Interest Income 6,652 5,532 6,543 20.2% 1.7% Provisions for loan losses 1,459 868 1,631 68.1% -10.5% Net interest income after provisions 5,193 4,664 4,912 11.3% 5.7% Commissions and fee income 878 539 991 62.9% -11.4% Commissions and fee expense 166 164 173 1.2% -4.0% Trading gains (losses) 2 (4) 2 N/C 0.0% Other operating income (expense) (4) (116) (58) N/C N/C Operating Expenses 3,680 3,279 4,010 12.2% -8.2% Net operating income 2,223 1,640 1,664 35.5% 33.6% Total income before income tax 2,223 1,640 1,664 35.5% 33.6% Income tax 678 492 459 37.8% 47.7% Net income 1,545 1,148 1,205 34.6% 28.2% 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Cash and investments in financial instruments 6,730 6,735 5,510 -0.1% 22.1% Loan portfolio with credit risk stage 1 and 2 51,376 40,706 51,325 26.2% 0.1% Loan portfolio with credit risk stage 3 2,080 1,380 2,070 50.7% 0.5% Loan portfolio 53,456 42,086 53,395 27.0% 0.1% Deferred items 449 439 366 2.3% 22.7% Allowance for loan losses 4,258 3,026 4,285 40.7% -0.6% Loan portfolio, net 49,647 39,499 49,476 25.7% 0.3% Other accounts receivable, net 1,927 2,858 1,777 -32.6% 8.4% Properties, furniture and equipment, net 386 255 420 51.4% -8.1% Rights of use assets, properties, furniture and equipment, net 698 621 677 12.4% 3.1% Asset for deferred income taxes, net 1,925 1,493 1,938 28.9% -0.7% Other assets 476 448 410 6.3% 16.1% Total assets 61,789 51,909 60,208 19.0% 2.6% Clients' deposits 2,670 2,195 2,561 21.6% 4.3% OD Deposits 14 144 177 -90.3% -92.1% Term deposits 2,209 1991 2,014 10.9% 9.7% Long term debt issuance 13,274 13,453 13,201 -1.3% 0.6% Banking and other borrowings 20,396 15,438 20,305 32.1% 0.4% Lease liability 734 647 713 13.4% 2.9% Other liabilities 3,612 3,892 5,501 -7.2% -34.3% Deferred credits and advance collections 1,599 90 0 N/C N/C Total liabilities 44,508 37,850 44,472 17.6% 0.1% Capital stock 856 813 856 5.3% 0.0% Capital reserves 804 761 804 5.7% 0.0% Accumulated retained earnings 15,690 12,683 14,145 23.7% 10.9% Other comprehensive income (69) (198) (69) N/C N/C Total stockholders' equity 17,281 14,059 15,736 22.9% 9.8% Total liabilities and stockholders' equity 61,789 51,909 60,208 19.0% 2.6%
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GENTERA 1Q25 Results 15 The following section sets forth the non-audited financial results for the first quarter of 2025 (1Q25) of Compartamos Banco in Perú, GENTERA’s Peruvian subsidiary. All figures are in Mexican pesos and may vary due to rounding. All numbers are expressed in Mexican pesos. The report and analysis were prepared in accordance with Mexican banking regulations applicable to credit institutions and Financial and Reporting Standards accepted in Mexico which from 2022 and onwards converge with IFRS-9. The reader must take into consideration the FX fluctuations in the comparison periods. Financial Highlights Compartamos Banco Peru figures are reported in accordance with Financial and Reporting Standards in Mexico and Mexican Regulation. *Portfolio and Net Income are expressed in Mexican pesos (millions) with their corresponding FX for the quarter. These figures are not comparable to the financial statements submitted to the Peruvian Superintendencia de Banca, Seguros y AFP (Peruvian Banking, Insurance and Pension Fund Commission). 1Q25 Highlights: • Total loan portfolio reached Ps. 23,925 million, representing 25.9% growth compared to 1Q24 (in local currency loan portfolio grew 0.6% in its annual comparison). • Net Income for 1Q25 stood at Ps. 292 million, compared to Ps. 140 million registered in 1Q24. • Non-performing loans stood at 3.74% in 1Q25, an improvement compared to 4.67% in 1Q24 and compared to 4.22% recorded in 4Q24. • Credit clients finalized the quarter at 992,642, representing a 3.8% increase compared to 1Q24. o Group Loans product represented 67.3% of the clients served in Peru, ending the period with more than 668 thousand clients. This methodology represented 25.8% of Compartamos Banco Perú loan portfolio. • Solvency ratio in 1Q25 stood at 21.3%. • ROA for 1Q25 stood at 4.1%, compared to 2.8% in 4Q24 and 2.4% in 1Q24. • ROE for 1Q25 stood at 20.7% compared to 14.7% in 4Q24 and 13.4% in 1Q24. Summary 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Clients 992,642 956,522 957,462 3.8% 3.7% Portfolio * 23,925 19,001 24,169 25.9% -1.0% Net Income* 292 140 193 108.4% 51.2% NPLs / Total Portfolio 3.74% 4.67% 4.22% -0.93 pp -0.48 pp ROA 4.1% 2.4% 2.8% 1.7 pp 1.3 pp ROE 20.7% 13.4% 14.7% 7.3 pp 6.0 pp NIM 27.6% 23.4% 26.3% 4.2 pp 1.3 pp NIM after provisions 19.2% 13.5% 16.0% 5.7 pp 3.2 pp Efficiency Ratio 72.3% 81.7% 77.1% -9.4 pp -4.8 pp Operating Efficiency 15.4% 12.5% 13.7% 2.9 pp 1.7 pp Capital / Total Assets 20.6% 17.4% 19.1% 3.2 pp 1.5 pp Average Loan (Ps.) 24,102 19,865 25,243 21.3% -4.5% Employees 6,881 6,169 6,790 11.5% 1.3% Service Offices 123 119 123 3.4% 0.0%
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GENTERA 1Q25 Results 16 Compartamos Banco, S.A. – Perú - Statement of Comprehensive Income For the three-month period ended March 31, 2025, and 2024, and December 31, 2024 (In millions of Mexican pesos) Compartamos Banco, S.A. – Perú - Statement of Financial Position As of March 31, 2025, and 2024, and December 31, 2024 (In millions of Mexican pesos) 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Interest income 2,242.2 1,736.6 2,133.7 29.1% 5.1% Interest expense 356.5 394.5 378.5 -9.6% -5.8% Financing expense 288.1 327.9 304.9 -12.1% -5.5% Expense of credit origination and leasing 68.4 66.5 73.6 2.7% -7.1% Net interest income 1,885.7 1,342.2 1,755.2 40.5% 7.4% Provisions for loan losses 573.4 566.1 685.5 1.3% -16.3% Net interest income after provisions 1,312.3 776.1 1,069.8 69.1% 22.7% Commissions and fee income 231.6 172.7 207.2 34.1% 11.7% Commissions and fee expenses 27.1 34.6 24.8 -21.7% 9.2% Other operating income (expense) (6.4) (5.5) (18.3) N/C N/C Operating expenses 1,092.7 742.7 950.8 47.1% 14.9% Net operating income 417.6 165.8 283.1 151.8% 47.5% Participation in the net result of other entities 0.0 (0.0) 0.0 N/C N/C Total income before income tax 417.6 165.8 283.1 151.8% 47.5% Income tax 125.3 25.5 89.8 390.6% 39.6% Net income 292.3 140.3 193.4 108.4% 51.2% Controlling interest 292.5 139.4 195.8 109.9% 49.3% Non Controlling interest (0.1) 0.9 (2.5) N/C N/C 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Cash and investments in financial instruments 4,262.1 5,063.6 4,244.7 -15.8% 0.4% Loan portfolio with credit risk stage 1 and 2 23,030.9 18,114.8 23,148.7 27.1% -0.5% Loan portfolio with credit risk stage 3 894.1 886.6 1,020.8 0.9% -12.4% Loan portfolio 23,925.0 19,001.4 24,169.5 25.9% -1.0% Deferred items 39.5 32.2 49.8 22.8% -20.6% Allowance for loan losses 1,915.8 1,632.5 1,959.8 17.4% -2.2% Loan portfolio, net 22,048.7 17,401.1 22,259.4 26.7% -0.9% Other accounts receivable, net 383.3 614.1 508.7 -37.6% -24.7% Properties, furniture and equipment, net 311.5 183.1 321.4 70.2% -3.1% Asset for deferred income taxes, net 320.9 277.9 308.2 15.5% 4.1%Rights of use assets, properties, furniture and equipment, net 368.6 293.5 398.9 25.6% -7.6% Other assets 491.4 233.1 636.7 110.8% -22.8% Total assets 28,186.5 24,066.4 28,678.0 17.1% -1.7% Deposits 16,931.8 14,558.0 17,136.7 16.3% -1.2% Banking and other borrowings 3,797.3 4,011.1 4,418.5 -5.3% -14.1% Creditors on repurchase/resell agreements 0.0 0.0 0.0 N/C N/C Lease liability 391.3 306.3 420.5 27.8% -6.9% Other liabilities 1,248.6 993.1 1,208.8 25.7% 3.3% Deferred credits and advance collections 7.1 7.0 7.6 1.6% -5.7% Total liabilities 22,376.1 19,875.5 23,192.0 12.6% -3.5% Capital stock 4,244.9 3,753.9 3,753.9 13.1% 13.1% Capital reserves 878.7 826.9 826.9 6.3% 6.3% Other comprehensive income 358.7 (776.9) 272.8 N/C 31.5% Accumulated retained earnings 320.0 364.4 623.2 -12.2% -48.6% Total controlling interest 5,802.4 4,168.3 5,476.9 39.2% 5.9% Total non-controlling interest 8.1 22.6 9.1 -64.0% -10.9% Total stockholders' equity 5,810.5 4,190.9 5,486.1 38.6% 5.9% Total liabilities and stockholders' equity 28,186.5 24,066.4 28,678.0 17.1% -1.7%
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GENTERA 1Q25 Results 17 The following section sets forth the non-audited financial results for the first quarter 2025 (1Q25) of ConCrédito, GENTERA’s financial subsidiary in Mexico. The report and analysis were prepared in accordance with Mexican banking regulations applicable to credit institutions and Financial and Reporting Standards accepted in Mexico which from 2022 and onwards converge with IFRS-9. *Net Income, Portfolio, Accounts receivable Creditienda and Write-offs are expressed in Mexican pesos (millions). Note: Coverage Ratio. The provision methodology considers the credits as personal loans instead of revolving credits. 1Q25 Highlights: • Total loan portfolio reached a record of Ps. 5,315 million, a 21.4% increase compared to Ps. 4,378 million in 1Q24, and a 3.9% increase compared to 4Q24. • Net Income for 1Q25 reached Ps. 256 million, a 36.6% increase compared to Ps. 187 million in 1Q24. • ROA for 1Q25 stood at 10.5% compared to 11.0% in 1Q24. • ROE for 1Q25 stood at 22.3% compared to 19.9% in 1Q24. • The number of Entrepreneurs (Active Clients) in 1Q25, exceeded 81 thousand, reaching over 934 thousand final users, representing more than 120 thousand additional final users compared to 1Q24. Entrepreneurs (Active Clients) continued working closely with final users, servicing them through Credit, Insurance, and CrediTienda products, experiencing a 15.0% growth in the number of final users served on an annual comparison. o CrediTienda App, part of ConCrédito, is an online sales platform, and concluded 1Q25 with Ps. 740 million in accounts receivable, a 38.9% growth compared to Ps. 533 million in 1Q24. • ConCrédito operates without physical branches in 100% of the cities it covers in 27 out of the 32 states in Mexico. The credit disbursement process and the activation of Entrepreneurs occur 100% digitally. ConCrédito 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Entrepreneurs (Clients) 81,843 71,877 81,830 13.9% 0.0% Final users 934,569 812,639 929,015 15.0% 0.6% Portfolio * 5,315 4,378 5,113 21.4% 3.9% Accounts Receivable Creditienda* 740 533 656 38.9% 12.9% Net Income* 256 187 316 36.6% -19.1% NPLs / Total Portfolio 1.60% 1.60% 2.58% 0.00 pp -0.98 pp ROA 10.5% 11.0% 14.9% -0.5 pp -4.40 pp ROE 22.3% 19.9% 28.5% 2.4 pp -6.2 pp NIM 40.32% 41.9% 43.8% -1.6 pp -3.5 pp NIM after provisions 20.4% 21.6% 25.1% -1.2 pp -4.7 pp Capital / Total Assets 46.5% 55.6% 47.5% -9.1 pp -1.0 pp Write - offs * 379 306 342 24.0% 10.7% Coverage Ratio 559.9% 673.0% 401.4% -113.1 pp 158.5 pp Average Loan per Client 64,943 60,909 62,489 6.6% 3.9% Employees 1,998 2,237 1,934 -10.7% 3.3%
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GENTERA 1Q25 Results 18 ConCrédito Statement of Comprehensive Income For the three-month period ended March 31, 2025, and 2024, and December 31, 2024 (In millions of Mexican pesos) ConCrédito Statement of Financial Position As of March 31, 2025, and 2024, and December 31, 2024 (In millions of Mexican pesos) About GENTERA GENTERA, S.A.B. de C.V. (formerly Compartamos, S.A.B. de C.V.) is a holding Company whose primary objective is to promote, organize , and manage companies, domestic and international, that are subject to its investment policies. GENTERA was established in 2010 and is headquartered in Mexico. I ts stock began trading on the Mexican Stock Exchange on December 24, 2010 under the ticker symbol COMPARC*. On January 2, 2014, the ticker symbol was changed to GENTERA*. Note on Forward-Looking Statements This press release may contain forward -looking statements. These statements are statements that are not historical facts and are based on Management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of Management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will actually occur. The statements are based on many assumptions and factors, including general economic and mark et conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Interest income 858.6 708.7 888.2 21.1% -3.3% Interest expense 120.9 107.0 117.9 13.0% 2.5% Financing expense 113.7 97.7 109.1 16.3% 4.2% Expense of credit origination and leasing 7.3 9.3 8.8 -21.9% -17.7% Net interest income 737.6 601.7 770.2 22.6% -4.2% Provisions for loan losses 364.0 291.3 329.1 25.0% 10.6% Net interest income after provisions 373.6 310.4 441.2 20.4% -15.3% Commissions and fee income 0.0 0 0 N/C N/C Commissions and fee expenses 15.4 13.9 21.1 10.6% -27.2% Other operating income (expense) 464.7 331.8 474.7 40.1% -2.1% Operating expenses 457.4 369.2 459.7 23.9% -0.5% Total income before income tax 365.5 259.1 435.0 41.1% -16.0% Income tax 109.8 71.9 119.0 52.7% -7.8% Net income 255.7 187.2 316.0 36.6% -19.1% 1Q25 1Q24 4Q24 % Change 1Q24 % Change 4Q24 Cash and investments in financial instruments 1,865.6 1,464.6 2,552.2 27.4% -26.9% Derivatives 0.9 15.5 4.3 -94.2% -79.2% Loan portfolio with credit risk stage 1 and 2 5,230.1 4,307.9 4,981.7 21.4% 5.0% Loan portfolio with credit risk stage 3 85.0 70.1 131.8 21.3% -35.5% Loan portfolio 5,315.2 4,378.0 5,113.5 21.4% 3.9% Deferred items 4.5 17.2 13.6 -73.9% -66.8% Allowance for loan losses 476.2 471.7 529.0 0.9% -10.0% Loan portfolio, net 4,843.5 3,923.5 4,598.0 23.4% 5.3% Other accounts receivable, net 2,437.9 864.8 1,512.1 181.9% 61.2% Properties, furniture and equipment, net 76.5 33.6 24.4 127.3% 213.7% Rights of use assets, properties, furniture and equipment, net 31.0 111.2 94.0 -72.2% -67.1% Asset for deferred income taxes, net 610.5 367.6 432.7 66.1% 41.1% Other assets 289.4 147.6 193.4 96.0% 49.6% Total assets 10,155.2 6,928.4 9,411.2 46.6% 7.9% Securitization transactions 1,277.7 1,183.4 1,274.1 8.0% 0.3% Banking and other borrowings 1,551.0 1,227.8 2,263.1 26.3% -31.5% Lease liability 86.5 118.0 99.8 -26.7% -13.3% Other accounts payable 2,497.1 514.8 1,265.0 385.1% 97.4% Other liabilities 7.6 0.0 26.0 N/C -70.8% Financial instruments qualify as a liability (5.7) - (3.9) N/C N/C Employee benefits liabilities 21.6 34.9 21.3 -38.0% 1.4% Total liabilities 5,435.8 3,078.8 4,945.4 76.6% 9.9% Capital stock 3,239.2 2,074.3 3,184.3 56.2% 1.7% Premium on sale of stock 6.7 6.7 6.7 0.0% 0.0% Capital reserves 53.1 42.9 53.1 23.5% 0.0% Accumulated retained earnings 1,420.5 1,725.7 1,221.7 -17.7% 16.3% Total stockholders' equity 4,719.4 3,849.6 4,465.8 22.6% 5.7% Total liabilities and stockholders' equity 10,155.2 6,928.4 9,411.2 46.6% 7.9%