News Column

GENTERA Reports 2Q14 Results

July 28, 2014



MEXICO CITY--(BUSINESS WIRE)-- GENTERA S.A.B. de C.V. (“GENTERA” or “the Company”) (BMV:GENTERA*) announced today non-audited consolidated financial results for the second quarter period ended June 30, 2014. All figures were prepared in accordance with requirements from the National Banking and Securities Commission (CNBV) and are expressed in nominal Mexican Pesos (Ps.).

2Q14 Highlights:

  • Total Loan Portfolio reached Ps. 22,497 million, a 10.1% increase compared with 2Q13.



  • Average Loan Portfolio grew 13.3% compared with 2Q13.

    Loan Portfolio per subsidiary was distributed in the following manner:

  • Banco Compartamos S.A. I.B.M. (Mexico) (Banco Compartamos) reached Ps. 18,063million, a 6.0% increase1) versus 2Q13;



  • Average Loan Portfolio grew 8.6% compared with 2Q13.
  • Compartamos Financiera (Peru) reached Ps.4,234million, a 30.1% increase versus 2Q13;
  • Compartamos S.A. (Guatemala) reached Ps. 201million, 43.4% higher compared with 2Q13
  • Net Income for the second quarter was Ps. 655 million, an increase of 33.4% compared with 2Q13.
  • NIM reached 55.8%, an improvement compared with 52.8% in 2Q13.
  • ROE was 26.7%, an improvement compared with 22.1% during 2Q13.
  • ROA was 9.8%, an improvement compared with 8.1% in 2Q13.
  • Non-performing loans (NPLs)* were 2.72%, an improvement compared with3.25% in 1Q14.
  • Efficiency ratio for the quarter was 63.1%, an improvement compared with 65.5% reported in 2Q13.
  • On July 28, GENTERA’s main subsidiary, Banco Compartamos obtained Global investment grade ‘BBB/F2’, and its local rating was affirmed at ‘AA+(mex)/F1+(mex)’ by FITCH Ratings
  • YASTAS, GENTERA’s correspondent network manager, has over 3,000 affiliates. Over 1,400 affiliates have been approved by the CNBV to execute financial transactions.
  • ATERNA, the Company’s micro-insurancebroker, with operations in Mexico, Peru and Guatemala,sold over 3.2 million life insurance policies during 2Q14.
  • At the close of the second quarter, 1,320,237 shares were repurchased with the Company’s share buyback program that was established April 24, 2014.
  • During the quarter more than 851 thousand financial literacy articles were distributed to clients, employees and communities served by the Company, and more than 6,000 employees participated in volunteer activities and programs in various communities.

    *During 4Q13, Banco Compartamos’ financial accounting treatment for write-offs changed. As a result credits over 180 days past due would be written off (vs. 270 days past due, previously).

    1) It does not include related parties loans

    Comments from Mr. Carlos Labarthe, GENTERA’s CEO:

    The second quarter of 2014 maintains the momentum that began after a solid start of the 2014 year.As a group GENTERA is now serving close to 2.9 million clients through COMPARTAMOS (Mexico, Peru and Guatemala), and we expect to serve even more clients in the months to come aligned to our mission to eradicate financial exclusion.

    At the end of the second quarter, GENTERA’s portfolio grew 10.1%, a performance which is right on track to reach, in the upcoming months, the guidance for the full year. Important to highlight is the asset quality, which improved substantially and for this second quarter stood at 2.72%. Net Income stood at Ps. 655 million, an increase of 33.4% compared with 2Q13.

    Regarding ATERNA and YASTAS, both subsidiaries are developing in accordance with the plan for this year. ATERNA distributed 3.2 million policies in this quarter alone, taking the number of policies distributed in the first six months to 6.4 million. YASTÁS, our correspondent network manager now has over 3,000 affiliates, of which 1,400 affiliates are approved to perform financial transactions.

    We look forward to the second half of the year, and we are enthusiastic with the steps taken and decisions made in the past, recognizing that those actions are taking GENTERA to a position where we can better serve our clients. GENTERA will continue to search new ways of providing more services and products to our clients, while distributing best in class products and services. Doing this we will keep generating human, social and economic value.

    For a full version of this release, please visit www.gentera.com.mx.



    GENTERA

    Enrique Barrera Flores, +52 (55) 5276-7379

    Investor Relations Officer

    or

    Beatriz SÁnchez Covarrubias, +52 (55) 5276-7379

    Investor Relations

    Source: GENTERA S.A.B. de C.V.


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