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Banco Hipotecario Releases 4Q 2013 Results

February 19, 2014

Banco Hipotecario S.A. has announced its fourth quarter 2013 results.

In a release, the Company provided an Executive Summary:

-Total net income for the year was Ps. 421.0 million, 22.5 percent higher than Ps. 343.6 million of 2012. Net income for the fourth quarter was Ps. 121.3 million, compared to Ps. 147.3 million and Ps. 111.7 million of last quarter and same quarter of previous year, respectively.

-Net financial margin for the year was Ps. 1,629.6 million and Ps. 1,042.1 million for 2012. Net financial margin for the quarter was Ps. 532.7 million, compared to Ps. 499.1 million of last quarter and Ps. 289.4 million of same quarter of last year.

-Aggregated net income from services of Ps. 1,219.3 million was 24.3 percent higher than 2012. Net income from services for the quarter was Ps. 335.5 million 13.6 percent higher than previous quarter, and 30.6 percent higher than fourth quarter 2012.

-Loans to the private sector increased 11.2 percent in the quarter and 36.0 percent YoY.

-Deposits increased 6.3 percent in the quarter and a 35.9 percent YoY growth.

-NPL stable around 2.2 percent. Coverage ratio was 101.4 percent.

-Equity ratio of 18.9 percent, compared with 21.6 percent of 2012.

-BH ranks eleventh in terms of net worth and fourteenth in terms of assets in the local financial system.

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Source: Health & Beauty Close - Up

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