The evolution of financial performance in popular financial companies (SOFIPOs) in Mexico.
DOI:
https://doi.org/10.19136/hitos.a32n94.6456Keywords:
microfinance institution, financial inclusion, financial indicators.Abstract
OBJECTIVE: To analyze the financial performance of the largest and smallest deposit-taking Popular Financial Companies (SOFIPOs) in Mexico during the 2017–2023 period.
MATERIAL AND METHOD: A quantitative, descriptive-comparative, non-experimental longitudinal study was conducted. Using convenience sampling, 16 of the 34 authorized and operating SOFIPOs were selected and classified according to their deposit levels. Financial performance was assessed using an adapted version of Piotroski’s F-Score and the Mann–Whitney U test.
RESULTS: Variations in financial performance were observed, with notable declines in 2020 and 2022. SOFIPOs with higher deposit levels obtained an average F-Score of 4.14, compared to 4.16 for those with lower deposit levels. The Mann–Whitney U test revealed no statistically significant differences (U = 30.00; p = .83; α = .05).
CONCLUSIONS: Deposit levels were not significantly associated with financial performance, suggesting that higher deposit volumes do not necessarily guarantee greater institutional strength.
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