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.

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    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.

    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 

SOURCE Banco Hipotecario S.A.


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