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Banco Hipotecario S.A. Reports Second Quarter 2012 Results

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BUENOS AIRES, Argentina, Aug. 10, 2012 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its second quarter 2012 results.

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

Highlights 

Executive Summary

  • Net income for the second quarter was Ps. 91.6 million, 40.3% and 52.9% higher than last quarter and same quarter of previous year, respectively.

 

  • Net financial margin for the quarter was Ps. 221.9 million, representing an increase of Ps. 20.5 million and Ps. 82.5 with respect to last quarter and the same quarter of last year, respectively.

 

  • Net income from services for the quarter was Ps. 108.6 million, 10.6% higher than previous quarter, and 22.4% higher than second quarter 2011.

 

  • Loans to the private sector increased 8.0% in the quarter and 32.5% YoY[1].

 

  • Deposits increased 7.3% in the quarter and a 33.1% YoY growth.

 

  • NPL of 1.6% without significant change in the quarter. Coverage ratio was 133.2% in the same period.

 

  • Equity ratio of 23.2%, lower than the 25.1% of March 2012.

 

  • Fitch Ratings has upgraded BH´s local long term credit risk rating from AA-(arg) to AA(arg).

 

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

[1] As adjusted for outstanding MBS at the end of each period.

Contacts:


Tomas Godino

Brian Feldman

Capital Markets

Tel. (54-11) 4347- 5122/5782
Fax (54-11) 4347-5874
Buenos Aires, Argentina
tgodino@hipotecario.com.ar

bafeldman@hipotecario.com.ar

Gabriel Blasi

Chief Financial Officer

Tel. (54-11) 4347-5759
Buenos Aires, Argentina



SOURCE Banco Hipotecario S.A.



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

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