Banco Hipotecario S.A. Reports Second Quarter 2016 Results

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

Highlights
Executive Summary

• Net income for the second quarter was Ps. 145.0 million, compared to Ps. 230.4 million and Ps. 169.6 million of last quarter and same quarter of previous year, respectively.
     
• Net financial margin for the quarter was Ps. 706.7 million, compared to Ps. 760.1 million of last quarter and Ps. 530.7 million of same quarter of last year.
      
• Net income from services for the quarter of Ps. 902.5 million increased 8.6% QoQ and 19.8% YoY.
     
• Loans to the private sector increased 14.7% in the quarter and 9.9% YoY.
     
• Deposits decreased 11.5% in the quarter and 3.4% YoY while our financial indebtedness increased 19.2% QoQ and 85.3% YoY.
     
• NPL decreased from 2.3% to 2.1% in the quarter. Coverage ratio was 99.6%.
      
• Equity ratio of 14.4% compared to 14.1% of previous year.

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SOURCE Banco Hipotecario S.A.

Related Links

http://www.hipotecario.com.ar