Gentera (GENTERA.MX): Building a More Durable Profit Engine – 2Q26 Call

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Gentera (GENTERA.MX): Building a More Durable Profit Engine – 2Q26 Call

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23 Jul 2026 12:30:02 ET │ 11 pages

Gentera (GENTERA.MX)

Building a More Durable Profit Engine – 2Q26 Call

CITI'S TAKE

Buy We joined Gentera's conference call. Management conveyed a

constructive outlook on both growth and profitability, highlighting Short-Term View: Upside, expires 07-AUG-26

confidence in sustaining double-digit loan and earnings growth over the Price (22 Jul 26 14:00) P$39.79

medium term despite a still-challenging consumer environment. Target price P$60.00

Management indicated that asset-quality trends are beginning to Expected share price return 50.8%

improve, with early signs of NPL stabilization already visible and further Expected dividend yield 5.4%

progress expected in 2H26. While cost-of-risk should remain elevated Expected total return 56.2%

relative to historical levels, the company expects provisioning trends to

Market Cap P$63,170M stabilize and profitability to continue benefiting from strong portfolio

US$3,632M growth, healthy yields, and disciplined expense management. Overall, we

understand that with continued product expansion, improving

efficiency, and the potential increase in the dividend payout ratio to

45%, Gentera's outlook continues to offer solid value creation Brian Flores, CFAAC

opportunities via sustainable double-digit growth and ~23-24% levels +55-11-4009-2842

of ROE, despite the structurally higher cost-of-risk expected in 2027 luis.brian.flores@citi.com

and onwards.

Gustavo Schroden

+55-11-4009-5858

Conference call highlights: gustavo.schroden@citi.com

• Medium-term growth outlook remains strong – Management reiterated Arnon Shirazi, CFA

confidence in delivering double-digit growth in both loans and earnings +55-11-4009-7906