Banco Hipotecario S.A. reports Second Quarter 2018 consolidated results

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Aug 30, 2018, 09:08 ET

BUENOS AIRES, Argentina, Aug. 30, 2018 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) reports Second Quarter 2018 consolidated results.

Highlights
Executive Summary

The consolidated financial statements as of June 30, 2018 have been prepared under IFRS according to Central Bank´s convergence plan.
Net income for the quarter was Ps. 481.0 million, compared to Ps. 519.1 million of last quarter and Ps. 335.1 million of same quarter last year, which represents a 7.3% decrease QoQ and a 43.5% increase YoY.
Net operating income for the quarter was Ps. 3,273.5 million, 7.9% higher than the Ps. 3,032.6 million of previous quarter and 33.4% higher than the Ps. 2,453.4 million of same quarter of last year.
Operating income for the quarter was Ps. 703.6 million, 8.6% lower than the Ps. 770.1 million of previous quarter and 35.2% higher than the Ps. 520.2 million of same quarter of last year.
Loans to the non financial private sector increased 12.1% QoQ and 29.5% YoY.
Deposits increased 16.1% QoQ and 39.7% YoY, while corporate bonds increased 7.8% QoQ and 60.6% YoY.
On an individual basis, NPL increased from 2.0% in Q1 2018 to 2.3% in Q2 2018, while coverage ratio was 90.2%. On a consolidated basis, NPL decreased from 4.7% in Q1 2018 to 4.5% in Q2 2018, while coverage ratio was 76.5%.
Total capital ratio as a percentage of RWA as of June 30, 2018 was 11.95%, compared to 11.97% of same quarter of last year.
In the first quarter the Bank issued the first UVA denominated Mortgage Financial Trust for 19,210,114 UVAs.

SOURCE Banco Hipotecario S.A.

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