2014

Banco Hipotecario Announces Third Quarter Results

BUENOS AIRES, Argentina, Nov. 10 /PRNewswire-FirstCall/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces third quarter 2009 results.

    (Logo:  http://www.newscom.com/cgi-bin/prnh/20060810/ARTH004LOGO )

    Highlights

-- Net income for the third quarter of 2009 was Ps. 35.5 million, compared to Ps. 52.9 million for the previous quarter and Ps. (47.2) million for the same quarter of 2008. Aggregated net income for the nine month period of 2009 was Ps. 118.5 million, compared to Ps. (37.7) million for the same period of 2008.

-- Financial margins of Ps. 95.3 million, compares to Ps. 161.6 million of the previous quarter and Ps. 20.4 of the same quarter of 2008. Aggregated financial margins for the nine month period of 2009 of Ps. 383.6 million was 215.5% higher than the Ps. 121.7 million for the same period of 2008.

-- Net income from services of Ps. 68.6 million was 28.4% and 69.3% higher than the previous quarter and same quarter of last year, respectively. Aggregated net income from services for the nine month period of 2009 of Ps. 177.6 million was 37.1% higher than the same period of 2008.

-- Deposits remained stable in the quarter and increased 58.5% YoY.

-- NPL ratio decreased from 6.8% to 6.0% in the quarter, while coverage ratio increased from 77.7% to 91.6% in the same period.

-- Equity ratio of 23.1% was lower than the 24.2% of September 2008.

-- BH ranks ninth in terms of assets, seventh in terms of household financing and third in terms of net worth in the local financial system.


    Contacts:
    Luis Carlei                     Gabriel Saidon
    Tomas Godino                    Chief Financial Officer
    Capital Markets                 Tel. (54-11) 4347-5759 / 5212
    Tel. (54-11) 4347-5122 / 5798   Fax (54-11) 4347-5874 / 5113
    Fax (54-11) 4347-5874           gsaidon@hipotecario.com.ar
    plcarlei@hipotecario.com.ar
    tgodino@hipotecario.com.ar

SOURCE Banco Hipotecario S.A.



RELATED LINKS
http://www.hipotecario.com.ar

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