underlying attributable profit
underlying attributable profit
Santander Mexico is one of the leading financial groups in the country, focused on business transformation and innovation. Its business is focused on Retail Banking, with a strong integration of Wholesale Banking, which adds to the boost of the Private Banking, Asset Management and Insurance businesses.
Following the important investment plan of recent years, the Group is ready to grow profitably, recurrently and sustainably, in addition to increasing the base of loyal and digital customers and improving customer satisfaction.
Banco Santander Mexico was established in 1932 under the name of Banco Mexicano. It performed different alliances, acquisitions and mergers in the sector, notably that of Grupo Financiero Serfín in 2000, consolidating its presence in the country.
Since 2016 it has developed an investment plan of 15 billion pesos to optimise its processes and infrastructure with cutting-edge technology and boost digital channels.
Felipe García Ascencio
Chief executive officer of Santander México
No results found
Non-IFRS and alternative performance measures
In addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRS”) and derived from our financial statements, the information above contains certain financial measures that may constitute alternative performance measures (“APMs”) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415en) and other non-IFRS measures (“Non-IFRS Measures”). Such APMs and non-IFRS measures have been calculated using the financial information from Santander Group but are not defined or detailed in the applicable financial reporting framework and have neither been audited nor reviewed by our auditors. While we believe that these APMs and non-IFRS measures are useful in evaluating our business, this information should be considered as supplemental in nature and is not meant as a substitute of IFRS measures. In addition, other companies, including companies in our industry, may calculate or use such measures differently, which reduces their usefulness as comparative measures. For further details of the APMs and Non-IFRS Measures used by Banco Santander, S.A. (Banco Santander), as the parent company of Santander Group, including its definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the Banco Santander´s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission, as well as the section “Alternative performance measures” of the annex to Banco Santander´s most recent quarterly Financial Report. These documents are available on Banco Santander’s website (www.santander.com).
The businesses included in each of the Santander Group primary segments and the accounting principles under which their results are presented in such documents may differ from the businesses included and accounting principles applied in the financial information separately prepared and disclosed by its subsidiaries (some of which are publicly listed) which in name or geographical description may seem to correspond to the business areas covered in such Santander Group documentation. Accordingly, the results of operations and trends shown for the Santander Group´s business areas may differ materially from those of such subsidiaries.