Banco Hipotecario S.A. reports Second Quarter 2013 results

BUENOS AIRES, Argentina, Aug. 8, 2013 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its second quarter 2013 results.

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Highlights
Executive Summary

• Net income for the second quarter was Ps. 70.9 million, compared to Ps. 81.4 million and Ps. 91.6 million of last quarter and same quarter of previous year, respectively.
• Net financial margin for the quarter was Ps. 239.0 million, compared to Ps. 231.6 million of last quarter and Ps. 221.9 million of same quarter of last year.
• Net income from services for the quarter was Ps. 129.7 million, 3.5% less than previous quarter, and 19.4% higher than second quarter 2012.
• Loans to the private sector increased 6.9% in the quarter and 36.6% YoY.
• Deposits decreased 10.9% in the quarter (partially offsetting the 24.6% increase of the previous quarter) and had a 28.5% YoY growth.
• NPL increased slightly from 1.77% to 1.83% in the quarter. Coverage ratio was 115.4% in the same period.
• Equity ratio of 22.0%, compared with 23.2% of June 2012.
• BH ranks eleventh in terms of net worth and thirteenth in terms of assets in the local financial system.

SOURCE Banco Hipotecario S.A.