Mexican non-bank lender Credito Real’s dollar bonds plummeted 7-9% after it adjusted its 2020 annual statements to show an 82% increase in its non-performing loan (NPL) portfolio relative to what was disclosed in its original February filing. Credito Real had initially reported an NPL book of MXN 872.3mn ($43.6mn) and recently disclosed an increase by $36mn. Rival company AlphaCredit last week disclosed a derivatives accounting error last which saw its bonds drop more than 40 cents on the dollar. “The market is looking for reassurance and so far it has not liked” what it’s gotten, said Omar Zeolla of Oppenheimer. Credito Real is due to report its earnings on 28th April.