Criteria CaixaCorp - Investment portfolio - Investments - Financial business and insurance - International banking

Investment portfolio > Investments > Financial business and insurance

International banking

GF Inbursa

Year of investment: October 2008

www.inbursa.com.mx

Founded in 1965, Grupo Financiero Inbursa has total assets of over MXN250 billion, over 250 branches and over 7 million customers, is the sixth largest financial group in Mexico in terms of total assets. It was on the Mexican stock exchange in 1994 and forms part of the Mexbol index, and it is one of the largest financial groups in Latin America by market capitalisation.

GF Inbursa offers commercial and retail banking services, asset management, life and non-life insurance products, pensions, as well as brokerage and securities custodian services. It is the largest financial entity in Mexico in asset management and custody services, in addition to being the leader in property/casualty insurance and a benchmark commercial bank. In 2008, it rolled out a business plan which envisages the transformation of the retail banking business into a customer-oriented bankassurance model and the opening of 500 branches over a four-year period.

	2008	2009	Jun-10
Note: the featured holdings represent financial holdings
Holding (%)	20%	20%	20%
Representation on the Board	3 Board Members (3 of 16)

Key figures

Financial figures	2009	2008	Variation
Business Volume	495,234	466,718	6%
Gross operating income ⁽¹⁾	10,425	5,083	105%
Net earnigns (MXP MM)	8,068	3,481	132%

Stock market figures	2009	2008	Variation
Market capitalisation (MXP MM)	127,107	107,839	18%
Price per share (31/12) (MXP)	38.13	32.35	18%

⁽¹⁾ According to Mexican GAAP, net interest income minus NPL provisions. It does not include equity-accounted earnings.
Source: Annual Report 2007 and 2008 and Earnings Realease 2009. Market capitalisation: Bloomberg.