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Banco Hipotecario S.A. reports First Quarter 2018 consolidated results

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Banco Hipotecario S.A. reports First Quarter 2018 consolidated results

PR Newswire

BUENOS AIRES, Argentina, May 9, 2018 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) reports First Quarter 2018 consolidated results.

Banco Hipotecario S.A. Logo

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



mdiez@hipotecario.com.ar



baschkier@hipotecario.com.ar



 

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SOURCE Banco Hipotecario S.A.

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