Finsus increases its assets by 72%

Finsus updated its filing with the National Banking and Securities Commission (CNBV) in order to improve the quality of the information and thus expedite the licensing process in Mexico.

Sofipo CEO Carlos Marmolejo said in an interview that the application to become a bank had to be updated because 18 months ago, when the process began, the company was not profitable and had a business model very different from its current one.

With this update, Finsus aims to ensure a smoother transition between the process of obtaining a banking license and receiving permission to begin operations.

From the fourth quarter of 2024 through the first quarter of this year, Finsus has increased its assets by 72% to US$1.4 billion, and its customer base grew by 154%, according to figures from the CNBV.

Finsus implemented corporate governance controls and banking standards months ago, so it expects the transition to a bank to be essentially an operational and administrative shift, while maintaining the same business model.