Banco Hipotecario S.A. Reports First Quarter 2009 Results

BUENOS AIRES, Argentina, May 12 /PRNewswire-FirstCall/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces first quarter 2009 results.

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

    Highlights
    Executive Summary

-- Net income for the first quarter of 2009 was Ps. 30.0 million, 104.6% higher than last quarter and 13.0% higher than the same quarter of 2008.

-- Financial income was similar to the previous quarter and increased 45.4% with respect to the same quarter of last year, while financial expenditure decreased 20.3% in the quarter and was 28.2% higher than last year.

-- Financial margins of Ps. 126.8 million were 93.1% higher than the previous quarter and 95.2% higher than a year ago.

-- Deposits grew 30.3% QoQ and 103.5% YoY.

-- Sound equity ratio of 21.0%.

-- BH ranks ninth in terms of assets, sixth 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.



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http://www.hipotecario.com.ar

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