From the Wires
Banco Hipotecario S.A. reports Third Quarter 2012 results
Nov. 8, 2012 10:16 AM
BUENOS AIRES, Argentina, Nov. 8, 2012 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its third quarter 2012 results.
- Net income for the third quarter was Ps. 75.1 million, compared to Ps. 91.6 million of last quarter and Ps. 14.2 million of same quarter of previous year. Accumulated Net income for the nine-month period was Ps. 231.9 million representing a 37.2% increase with respect to same period of previous year.
- Net financial margin for the quarter was Ps. 183.7 million, compared to Ps. 221.9 million of last quarter and Ps. 73.4 million of same quarter of previous year.
- Net income from services for the quarter was Ps. 118.2 million, 8.8% higher than previous quarter, and 25.3% higher than third quarter of 2011.
- Loans to the private sector increased 3.0% in the quarter and 25.2% YoY. Including the securitizations outstanding, growth was 2.5% and 19.5%, respectively.
- Deposits increased 5.1% in the quarter and a 32.5% YoY growth.
- NPL of 1.6% without significant change in the quarter. Coverage ratio was 133.0% in the same period.
- Equity ratio of 22.6%, slightly lower than the 23.2% of June 2012.
- BH ranks eighth in terms of net worth and thirteenth in terms of assets in the local financial system.
SOURCE Banco Hipotecario S.A.