Banco Hipotecario S.A. reports First Quarter 2016 results

BUENOS AIRES, Argentina, May 11, 2016 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) reports First Quarter 2016 results.

Highlights
Executive Summary

• Net income for the first quarter was Ps. 230.4 million, compared to Ps. 522.7 million and Ps. 176.1 million of last quarter and same quarter of previous year, respectively.
• Net financial margin for the quarter was Ps. 760.1 million, compared to Ps. 1,211.6 million of last quarter and Ps. 608.2 million of same quarter of last year.
• Net income from services for the quarter of Ps. 831.3 million decreased 1.3% QoQ and increased 26.6% YoY.
• Loans to the private sector decreased 3.6% in the quarter and increased 15.4% YoY.
• Deposits decreased 1.4% in the quarter and increased 18.8% YoY.
• NPL increased from 2.0% to 2.3% in the quarter. Coverage ratio was 94.9%.
• Equity ratio of 13.5% compared to 14.7% of previous year.

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SOURCE Banco Hipotecario S.A.

Related Links

http://www.hipotecario.com.ar