BUENOS AIRES, Argentina,
Aug. 11, 2011 /PRNewswire/ -- Banco
Hipotecario S.A. (BCBA: BHIP) announces its second quarter 2011
results.
(Logo: http://photos.prnewswire.com/prnh/20060810/ARTH004LOGO
)
Highlights
Executive Summary
- Total net income for the quarter was Ps. 59.9 million, 26.4%
and 36.1% higher than last quarter and same quarter of previous
year, respectively.
- Net financial margin for the quarter was Ps. 139.4 million,
compared to Ps. 140.3 million of last quarter and Ps. 119.1 million
of 2Q10.
- Aggregated net income from services was Ps. 88.8 million, 20.8%
and 25.3% higher than previous quarter and same quarter of last
year, respectively.
- Loans to the private sector increased 8.3% in the quarter and
27.6% YoY growth, non-mortgage loans increased 15.7% QoQ and 44.0%
YoY.
- Deposits without changes in the quarter and 18.0% YoY
increase.
- NPL ratio decreased from 3.2% to 2.4% in the year, while
coverage ratio was 119.9% compared to 118.5% of 2Q10.
- Equity ratio of 26.8%, higher than the 25.6% of June 2010.
- BH ranks fifth in terms of net worth and thirteenth in terms of
assets in the local financial system.
Second Quarter 2011 Conference Call
Friday, August 12, 2011,
10:00 ET
If you would like to participate, please call:
USA: (800) 260 - 0718
International: (651) 291 - 1170
PIN # 212991
Contacts:
Tomas Godino
Capital Markets
Tel. (54-11) 4347-5122
Fax (54-11) 4347-5874
Buenos Aires, Argentina
tgodino@hipotecario.com.ar
Gabriel Saidon
Chief Financial Officer
Tel. (54-11) 4347-5759 /5212
Fax (54-11) 4347-5874 /5113
Buenos Aires, Argentina
gsaidon@hipotecario.com.ar
SOURCE Banco Hipotecario S.A.
