BUENOS AIRES, Argentina, Aug. 11, 2016 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) reports Second Quarter 2016 results.
- Net income for the second quarter was Ps. 145.0 million, compared to Ps. 230.4 million and Ps. 169.6 million of last quarter and same quarter of previous year, respectively.
- Net financial margin for the quarter was Ps. 706.7 million, compared to Ps. 760.1 million of last quarter and Ps. 530.7 million of same quarter of last year.
- Net income from services for the quarter of Ps. 902.5 million increased 8.6% QoQ and 19.8% YoY.
- Loans to the private sector increased 14.7% in the quarter and 9.9% YoY.
- Deposits decreased 11.5% in the quarter and 3.4% YoY while our financial indebtedness increased 19.2% QoQ and 85.3% YoY.
- NPL decreased from 2.3% to 2.1% in the quarter. Coverage ratio was 99.6%.
- Equity ratio of 14.4% compared to 14.1% of previous year.