Between January and September this year, the earnings of the 15 factoring companies in Mexico reached 137.3 million pesos (US$12.3m), which was a decrease of 14.6% compared to the same period of 2003.
The National Banking and Securities Commission (CNBV) reported that in the third quarter this year, profits in the factoring industry totalled 52.8 million pesos (US$4.72m), some 9.96% lower than in April-June.
This drop, it explained, was due mainly to the decrease in the financial margin of these companies and a hike in administrative costs.
The CNBV also said that, based on statistical and financial information for the firms, the total assets at the end of the third quarter were 12.42 billion pesos (US$1.11bn), an increase of 8.26% in real terms compared to the second quarter.
