【IMF】Review of the Flexible Credit Line, The Short Term Liquidity Line and the Precautionary and Liquidity Line, and Proposals for Reform.pdf

Mexico: Arrangement Under the Flexible Credit Line and Cancellation of Current Arrangement-Press Release and Staff Report

FY22 largely in-line; Auto／VR to accelerate growth

Expecting an upbeat bottom line for 2Q results

Better profits achieved across 3 business lines

FY22 largely in-line; Gradual recovery on track

–2Q in line with profit alert; subtle recovery ahead

–Earnings in-line; Mgmt. changes imply a new round of expansion

Solid margin and attractive valuation; wait for top-line recovery

Core net profit in 2022 +53% YoY in line with expectation; Margin recovery in 4Q

–1H23 in-line： Solid asset quality; HCD spin-off untapped industrial potentials to empower growth