Banco Hipotecario S.A. Reports Third Quarter 2010 Results
BUENOS AIRES, Argentina, Nov. 10, 2010 /PRNewswire-FirstCall/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its third quarter 2010 results.
- Total net income for the quarter was Ps. 83.7 million, 90.3% and 135.6% higher than last quarter and same quarter of last year, respectively.
- Net financial margins of Ps. 182.6 million in the quarter were 53.4% and 91.6% higher than previous quarter and a year ago, respectively.
- Net income from services for the quarter were Ps. 75.5 million, 6.6% higher than previous quarter, and 10.1% higher than third quarter 2009.
- Loans to the private sector increased 6.5% in the quarter and 31.0% YoY(1).
- Deposits increased 11.1% in the quarter and 43.0% YoY.
- NPL ratio decreased from 6.0% to 3.2% in the year while coverage ratio increased from 91.6% to 116.7% in the same period.
- Equity ratio of 24.6%, higher than the 23.1% of September 2009.
- BH ranks fifth in terms of net worth, seventh in terms of household financing, and eleventh in terms of assets in the local financial system.
(1) As adjusted for outstanding MBS at the end of each period.
SOURCE Banco Hipotecario S.A.