Banco Hipotecario S.A. Reports Second Quarter 2010 Results

BUENOS AIRES, Argentina, Aug. 10 /PRNewswire-FirstCall/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its second quarter 2010 results.

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Executive Summary

  • Total net income for the quarter was Ps. 44.0 million, compared to Ps. 40.1 million of last quarter and Ps. 52.9 million of same quarter of last year.
  • Net financial margins of Ps. 119.1 million were 5.0% and 26.3% lower than previous quarter and a year ago, respectively.
  • Net income from services for the quarter were Ps. 70.8 million, 15.9% higher than previous quarter, and 32.6% higher than second quarter 2009.
  • Loans to the private sector increased 13.1% in the quarter and 20.2% YoY.
  • Deposits increased 10.2% in the quarter and 30.2% YoY.
  • NPL ratio decreased from 6.8% to 3.2% in the year while coverage ratio increased from 77.7% to 116.0% in the same period.
  • Equity ratio of 25.6%, higher than the 22.6% of June 2009.
  • BH ranks third in terms of net worth, seventh in terms of household financing, and eleventh in terms of assets in the local financial system.


Tomas Godino

Gabriel Saidon

Capital Markets

Chief Financial Officer

Tel. (54-11) 4347-5122

Tel. (54-11) 4347-5759 / 5212

Fax (54-11) 4347-5874

Fax (54-11) 4347-5874 / 5113

SOURCE Banco Hipotecario S.A.


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