Banco Hipotecario S.A. reports First Quarter 2018 consolidated results
PR Newswire
BUENOS AIRES, Argentina, May 9, 2018
BUENOS AIRES, Argentina, May 9, 2018 /PRNewswire/ -- Banco Hipotecario S.A. BHIP reports First Quarter 2018 consolidated results.
Highlights
Executive Summary
- The consolidated financial statements as of March 31, 2018 have been prepared under IFRS according to Central Bank's convergence plan.
- Net income for the first quarter was Ps. 519.1 million, compared to Ps. 294.6 million of same quarter of last year, which represented a 76.2% increase.
- Net financial margin for the quarter was Ps. 1,380.4 million, 51.5% higher than the Ps. 911.1 million of same quarter of last year.
- Aggregated net income from services was Ps. 1,333.4 million, 14.6% higher than the Ps. 1,163.7 million of same quarter of last year.
- Loans to the private sector increased 27.8% YoY, while personal loans increased 44.8% YoY.
- Deposits increased 27.9% YoY while financial indebtedness increased 67.2% YoY.
- On an individual basis, NPL increased from 1.7% in Q1 2017 to 1.9% in Q1 2018. Coverage ratio was 102.7%. On a consolidated basis, NPL increased from 3.5% in Q1 2017 to 4.7% in Q1 2018. Coverage ratio was 83.0%. Unifying the write off criteria of the Bank with its subsidiaries, the consolidated NPL increased from 2.7% in Q1 2017 to 3.6% in Q1 2018.
- Equity ratio as of March 31, 2018 was 11.5%, compared to 13.0% of same quarter of last year.
- In the first quarter the Bank issued Ps. 1,102.8 million at Badlar + 3.6% bonds due 2020 and UVA + 4.9% due 2022 in the local DCM.
- The ordinary shareholders meeting held on April 9th 2018 approved a dividend of Ps 200 million.
Contacts: | ||
Martín Diez |
Tomás Godino | |
Eliezer Baschkier |
CFO | |
Capital Markets |
Tel. (54-11) 4347-5759 | |
Tel. (54-11) 4347- 5856/5967 |
Buenos Aires, Argentina | |
Fax (54-11) 4347-5874 |
||
Buenos Aires, Argentina |
||
Logo - http://photos.prnewswire.com/prnh/20060810/ARTH004LOGO
View original content:http://www.prnewswire.com/news-releases/banco-hipotecario-sa-reports-first-quarter-2018-consolidated-results-300645372.html
SOURCE Banco Hipotecario S.A.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.