Grupo Financiero BBVA Bancomer SA de CV reported about 8.80 billion Mexican pesos in net income for the fourth quarter of 2020, down 41.3% from the year-ago period.

For full-year 2020, the banking group posted a net profit of 42.86 billion pesos, 24.8% lower than the 2019 result.

The Mexican banking major reported financial margin income of 35.91 billion pesos for the final quarter of 2020, up 5.5% from the linked quarter and 0.5% higher than a year earlier.

BBVA Bancomer's delinquency ratio rose to 3.0% at the end of 2020 from 2.2% at the close of 2019.

Out of the bank's total loan portfolio, which collectively slid by 0.5% in annual terms, only mortgages and government credit managed to grow. The balance of consumer and commercial loans, for their part, declined by 6% and 0.9% year over year, respectively.

Total expenses, meanwhile, rose by 1.9% to 66.09 billion pesos over the same period. The bank's efficiency ratio clocked in at 37.1%, up from the 36.5% reported a year earlier.

Parent company Banco Bilbao Vizcaya Argentaria SA earlier said Mexico accounted for 45% of the group's 2020 net profit.

As of Jan. 28, US$1 was equivalent to 20.29 Mexican pesos.