Banco Hipotecario S.A. Reports First Quarter 2010 Results
BUENOS AIRES, Argentina, May 10 /PRNewswire-FirstCall/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its first quarter 2010 results.
- Total net income for the quarter was Ps. 40.1 million, compared to the Ps. 79.3 million of last quarter and Ps. 30.0 million of the same quarter of last year.
- Net financial margins of Ps. 125.3 million were 36.6% and 1.2% lower than the previous quarter and a year ago, respectively.
- Net income from services for the quarter was Ps. 61.1 million, 6.0% higher than the previous quarter and 9.9% higher than first quarter 2009.
- Loans to the private sector increased 3.0% in the quarter and 10.7% YoY.
- Deposits increased 8.8% in the quarter and 18.9% YoY.
- NPL ratio decreased from 6.6% to 3.8% in the year while coverage ratio increased from 83.8% to 114.0% in the same period.
- Equity ratio of 24.3%, higher than the 21.0% of March 2009.
- BH ranks fifth in terms of net worth, seventh in terms of household financing, and eleventh in terms of assets in the local financial system.
SOURCE Banco Hipotecario S.A.