The Mexican unit of Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA) said Thursday its deposits grew 10% on the year to 381.4 billion pesos ($29.3 billion), while its credit portfolio expanded 9% to MXN609.7 billion, with a 13% expansion in mortgages and 15% growth in loans to businesses.

BBVA Bancomer, Mexico's largest bank, said its net interest margin, a measure of profitability, rose 7.2% last year on strong growth in credit and deposits.

The bank's percentage of non-performing loans stood at 3.1% at the end of the year, while its ratio of capital reserves was 15.8%.

By Amy Guthrie, Dow Jones Newswires; (5255) 5980-5177; amy.guthrie@dowjones.com

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