International Bancshares Corporation Reports 10% Revenue Growth to $1.1 Billion for Fiscal Year 2024

International Bancshares Corporation (IBC) reported a solid financial performance for the fiscal year ending December 31, 2024, with total revenues reaching approximately $1.1 billion, marking a 10% increase from the previous year. The company’s net income for the year was approximately $300 million, reflecting a 12% rise compared to 2023. This growth in profitability was attributed to a combination of increased loan demand and improved net interest margins, driven by the strategic management of interest rate risks amid fluctuating economic conditions.

The company has made significant strides in expanding its operations, particularly through the opening of new branches in retail locations and shopping malls, which aligns with its strategic focus on enhancing consumer and retail banking services. As of the end of 2024, IBC operated 166 banking facilities and 255 ATMs across Texas and Oklahoma, serving 75 communities. The total employee headcount stood at approximately 2,336, with a notable commitment to maintaining a diverse workforce, as 75% of employees self-identified as Latino or Hispanic, and 65% as women.

In terms of customer engagement, IBC has reported a steady increase in its customer base, with total deposits rising to $9.5 billion, a 9% increase from the previous year. The bank's international banking services, particularly those catering to customers in Mexico, continue to be a significant component of its business model, accounting for approximately 31% of total deposits. The company has also emphasized the importance of digital banking, with the launch of enhanced online and mobile banking services, which have seen increased adoption rates among customers.

Looking ahead, IBC remains optimistic about its growth trajectory, despite potential challenges posed by economic uncertainties and regulatory changes. The company plans to continue investing in technology and infrastructure to enhance customer service and operational efficiency. Additionally, IBC is closely monitoring the evolving regulatory landscape, particularly concerning consumer protection laws and the implications of the Dodd-Frank Act, which may affect its operational strategies moving forward. The management expressed confidence in its ability to navigate these challenges while maintaining a strong capital position, with a leverage ratio of 18.84% as of December 31, 2024, well above regulatory requirements.