Grupo Financiero Interacciones Reports 19.54% ROE in 4Q15

- Loan portfolio up 18.99% YoY to Ps.97,286 million

- NPL ratio of 0.12% in 4Q15, a 2 basis point YoY improvement

- Net income up 65.93% YoY and 3.99% QoQ to Ps.677 million

Feb 03, 2016, 17:53 ET from Grupo Financiero Interacciones, S.A. de C.V.

MEXICO CITY, Feb. 3, 2016 /PRNewswire/ -- Grupo Financiero Interacciones, S.A. de C.V., (BMV: GFINTERO), ("Grupo Financiero Interacciones" or "GFI"), the largest specialized Mexican financial group, with a business model focused on providing financing, risk management and financial advisory services mainly to the Mexican public sector, today announced results for the three and twelve-month periods ended December 31, 2015.

Mr. Carlos Rojo Macedo, Chief Executive Officer of Grupo Financiero Interacciones, commented: "GFI has once again reached another milestone in its growth story by expanding its loan book by 18.99% in 2015, exceeding system growth of 14.64%, and achieving a 17.67% increase in net income during the year, which represents an ROE of 17.41%. This performance was achieved while maintaining our traditional scrutiny over asset quality, which resulted in an NPL ratio of 0.12% for the year.  

"Our focus on profitability and asset quality, together with our strong expertise, allowed us to leverage the financing opportunities from the migration of Public Works to PPP projects, as well as the increased demand for leasing operations in Mexico. This disciplined approach allowed us to achieve a 35.98% increase in business commissions, supporting GFI's results. In spite of unusual prepayments during the last days of the year, which lowered our loan growth performance, our profitability remained robust during 4Q15 and contributed to effectively reach the net income and ROE guidance we established at the start of 2015."

"Our liability strategy also contributed in supporting our growth. Deposits grew by 19.80% annually and 3.20% quarterly, as we took a more granular approach to the stability of our deposits, narrowing the gap between assets and liabilities from 3.0 years to 1.9 years. We also achieved credit rating upgrades from both Fitch and Moody´s that will benefit GFI in future debt issuances. Furthermore, GFI lowered its dependence on debt issuances by 80% having issued only Ps.1.5 billion in 2015, just one CEBURES "Certificados Bursatiles" issuance, while reducing the average cost of these transactions by 15 basis points, when compared to 2014."

"On the expense front, we lowered annual costs by 2.55% relative to 2014 and we will continue to keep our attention on cost control during 2016 and beyond. This focus resulted in an efficiency ratio of 38.57% in 2015, a reduction of 472 basis points on an annual basis."

"Despite the overall challenging environment in 2015, our operating flexibility allowed us to adapt our business model to the changing market and deliver another year of strong results. We are mindful, however, that the headwinds in the Global Economy could worsen and impact Mexico, as well as the Country's public finances. In light of this, we expect to maintain a prudent approach, while still focusing on profitability. At GFI, we see many opportunities for growth in 2016 across all of our business units and we are confident in maintaining our trend of profitable growth. Given our prudent and conservative corporate culture, we will continue to maintain a selective approach in financing infrastructure projects, with shareholders' interests and capital protection as our first priority, while at the same time leveraging the many opportunities 2016 will offer." concluded Mr. Carlos Rojo Macedo.    

Main Indicators

Grupo Financiero Interacciones










Main Indicators

4Q15

3Q15

4Q14

Var.vs 


 12M15 

 12M14 

 Var. vs
12M14 

3Q15

4Q14


Income Statement*






Financial Margin

706

655

723

7.79%

-2.35%


2,652

2,488

6.59%

Provisions for Loan Losses

138

-426

-141

-132.39%

-197.87%


-1,176

-961

22.37%

Commissions Charged

1,633

1,489

1,270

9.67%

28.58%


5,209

3,521

47.94%

Commissions Paid

-846

-411

-633

105.84%

33.65%


-2,069

-1,642

26.00%

Other Non-Interest Income

1,715

1,663

1,287

3.13%

33.26%


6,353

5,495

15.61%

Total Income

4,410

4,166

3,391

5.86%

30.05%


16,138

13,953

15.66%

Administrative and Promotional Expenses

-753

-649

-681

16.02%

10.57%


-2,675

-2,745

-2.55%

Operating Income

960

832

555

15.38%

72.97%


3,085

2,635

17.08%

Net Income

677

651

408

3.99%

65.93%


2,278

1,936

17.67%











Main Indicators

4Q15

3Q15

4Q14

Var.vs 


 12M15 

 12M14 

 Var. vs
12M14 

3Q15

4Q14


Balance Sheet*










Total Assets

210,338

191,409

156,054

9.89%

34.79%


210,338

156,054

34.79%

Investment in Securities

100,262

92,809

61,259

8.03%

63.67%


100,262

61,259

63.67%

Loan Portfolio

97,286

86,273

81,757

12.77%

18.99%


97,286

81,757

18.99%

Loan Portfolio (Net)

95,666

84,473

80,377

13.25%

19.02%


95,666

80,377

19.02%

Total Liabilities

196,371

177,664

143,847

10.53%

36.51%


196,371

143,847

36.51%

Total Deposits

67,366

65,280

56,232

3.20%

19.80%


67,366

56,232

19.80%

Shareholders' Equity

13,967

13,745

12,207

1.62%

14.42%


13,967

12,207

14.42%











Main Indicators

4Q15

3Q15

4Q14

Var.vs 


 12M15 

 12M14 

 Var. vs
12M14 

3Q15

4Q14


Main Indicators










NIM

1.45%

1.41%

2.04%

4bp

-59bp


1.50%

1.59%

-9bp

Risk Adjusted NIM

1.73%

0.49%

1.64%

124bp

9bp


0.84%

0.97%

-13bp

ROE

19.54%

19.41%

13.35%

13bp

619bp


17.41%

17.04%

37bp

ROA

1.35%

1.36%

1.08%

-1bp

27bp


1.24%

1.18%

6bp

Efficiency Ratio

47.81%

34.03%

49.46%

1,378bp

-165bp


38.57%

43.29%

-472bp

Operating Efficiency Ratio

1.50%

1.36%

1.81%

14bp

-31bp


1.46%

1.67%

-21bp

NPL Ratio

0.12%

0.13%

0.14%

-1bp

-2bp


0.12%

0.14%

-2bp

Coverage Ratio

14.21x

15.93x

12.00x

-1.71x

2.22x


14.21x

12.00x

2.22x

*Millions of pesos










 

4Q15 EARNINGS CONFERENCE CALL

Date:

Thursday, February 4, 2016

Time:

8:00 am CT (México), 9:00 am ET



To join, please dial:




U.S / Canada:

+1-888-389-5988

Mexico:

001 800 514 1067

International:

+1-719-325-2177

Access Code:

594966

 

Simultaneous webcast: http://public.viavid.com/index.php?id=117928

A telephonic replay of the conference call will be available between 12:00 pm ET on February 4, 2016 and 11:59 pm ET on February 11, 2016. The replay can be accessed by dialing +1-877-870-5176 or for international callers +1-858-384-5517. The passcode for the replay is 594966. The audio of the conference call will also be archived on GFI's IR website at www.investorsinteracciones.com.

About Grupo Financiero Interacciones

Grupo Financiero Interacciones, S.A. de C.V. ("Grupo Interacciones" or "GFI"), is the largest specialized Mexican financial group with a business model focused on providing financing, risk management and financial advisory services mainly to the Mexican public sector, which includes federal, state and municipal governments, quasi-government entities and government suppliers. Grupo Financiero Interacciones conducts its business mainly through Banco Interacciones, its banking subsidiary, and through Interacciones Casa de Bolsa, its broker-dealer subsidiary, and Aseguradora Interacciones, its insurance company subsidiary. Grupo Financiero Interacciones is listed on the Bolsa Mexicana de Valores under the symbol "GFINTERO". For more information, please visit http://www.investorsinteracciones.com

This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. By their very nature, forward-looking statements and such information involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved or will differ from actual results. A number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed or implied in such forward-looking statements. Should one or more of these factors or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. Grupo Interacciones assumes no obligation to update or correct the information contained in this press release.

To obtain the full text of this earnings release, please visit our Investor Relations website at www.investorsinteracciones.com under the Financial Information / Quarterly Financial Results section.

 

SOURCE Grupo Financiero Interacciones, S.A. de C.V.



RELATED LINKS

http://www.investorsinteracciones.com