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.


Contacts:


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

tgodino@hipotecario.com.ar

gsaidon@hipotecario.com.ar





SOURCE Banco Hipotecario S.A.



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

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