BUENOS AIRES, Argentina, Feb. 13, 2012 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its fourth quarter 2011 results.
- Total net income for the year was Ps. 251.5 million, 28.8% higher than Ps. 195.3 million of 2010. Net income for the fourth quarter was Ps. 130.1 million, compared to Ps. 14.2 million and Ps. 27.5 million of last quarter and same quarter of previous year, respectively.
- Net financial margin for the year was Ps. 598.2 million and Ps. 535.2 million for 2010. Net financial margin for the quarter was Ps. 245.1 million, compared to Ps. 73.4 million of last quarter and Ps. 108.3 million of same quarter of last year.
- Aggregated net income from services of Ps. 353.6 million was 21.3% higher than 2010. Net income from services for the quarter was Ps. 97.1 million, 2.9% higher than previous quarter, and 15.6% higher than fourth quarter 2010.
- Loans to the private sector increased 8.0% in the quarter and 23.6% YoY (1)
- Deposits without significant changes in the quarter and a 13.7% YoY growth.
- NPL ratio decreased from 2.7% to 1.6% in the year while coverage ratio increased from 115.9% to 139.3% in the same period.
- Equity ratio of 26.8%, lower than the 27.3% of December 2010.
- BH ranks sixth 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.
Chief Financial Officer
Tel. (54-11) 4347-5759
Buenos Aires, Argentina
SOURCE Banco Hipotecario S.A.