Banco Hipotecario S.A. Reports First Quarter 2011 Results

BUENOS AIRES, Argentina, May 12, 2011 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its first quarter 2011 results.

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Highlights

Executive Summary

  • Total net income for the quarter was Ps. 47.4 million, 72.5% and 18.0% higher than last quarter and same quarter of previous year, respectively.
  • Net financial margin for the quarter was Ps. 140.3 million, Ps. 32.0 million higher than last quarter and Ps. 14.9 million higher than 1Q10.
  • Aggregated net income from services was Ps. 73.5 million, compared to Ps. 84.0 million of previous quarter and Ps. 61.1 million of same quarter of last year.
  • Loans to the private sector without changes in the quarter and a 29.5% YoY growth, non-mortgage loans increased 1.0% QoQ and 45.2% YoY.
  • Deposits increased 8.3% in the quarter and 30.1% YoY.
  • NPL ratio decreased from 3.8% to 2.6% in the year while coverage ratio was 116.5% compared to 114.0% of 1Q10.
  • Equity ratio of 26.3%, higher than the 24.3% of March 2010.
  • BH ranks fifth in terms of net worth and thirteenth in terms of assets in the local financial system.

Contacts:

Tomas Godino
Capital Markets
Tel. (54-11) 4347-5122
Fax (54-11) 4347-5874
Buenos Aires, Argentina
tgodino@hipotecario.com.ar

Gabriel Saidon
Chief Financial Officer
Tel. (54-11) 4347-5759 /5212
Fax (54-11) 4347-5874 /5113
Buenos Aires, Argentina
gsaidon@hipotecario.com.ar

SOURCE Banco Hipotecario S.A.



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

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