Banco Hipotecario S.A. Reports Second Quarter 2011 Results

BUENOS AIRES, Argentina, Aug. 11, 2011 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its second quarter 2011 results.

(Logo: http://photos.prnewswire.com/prnh/20060810/ARTH004LOGO )

Highlights

Executive Summary

  • Total net income for the quarter was Ps. 59.9 million, 26.4% and 36.1% higher than last quarter and same quarter of previous year, respectively.

  • Net financial margin for the quarter was Ps. 139.4 million, compared to Ps. 140.3 million of last quarter and Ps. 119.1 million of 2Q10.

  • Aggregated net income from services was Ps. 88.8 million, 20.8% and 25.3% higher than previous quarter and same quarter of last year, respectively.

  • Loans to the private sector increased 8.3% in the quarter and 27.6% YoY growth, non-mortgage loans increased 15.7% QoQ and 44.0% YoY.

  • Deposits without changes in the quarter and 18.0% YoY increase.

  • NPL ratio decreased from 3.2% to 2.4% in the year, while coverage ratio was 119.9% compared to 118.5% of 2Q10.

  • Equity ratio of 26.8%, higher than the 25.6% of June 2010.

  • BH ranks fifth in terms of net worth and thirteenth in terms of assets in the local financial system.

Second Quarter 2011 Conference Call

Friday, August 12, 2011, 10:00 ET
If you would like to participate, please call:

USA: (800) 260 - 0718
International: (651) 291 - 1170
PIN # 212991

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.



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http://www.hipotecario.com.ar
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