BHPTY Banco Hipotecario Sa (PK)

BUENOS AIRES, Argentina, May 14, 2012 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its first quarter 2012 results.

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Highlights

Executive Summary

• Net income for the first quarter was Ps. 65.3 million, compared to Ps. 130.1 million and Ps. 47.4 million of last quarter and same quarter of previous year, respectively.

• Net financial margin for the quarter was Ps. 201.4 million, compared to Ps. 245.1 million of last quarter and Ps. 140.3 million of same quarter of last year.

• Net income from services for the quarter was Ps. 98.2 million, 1.1% higher than previous quarter, and 33.6% higher than fourth quarter 2011.

• Loans to the private sector increased 0.8% in the quarter and 23.7% YoY (1).

• Deposits increased 18.2% in the quarter and a 24.1% YoY growth.

• NPL of 1.6% without significant change in the quarter. Coverage ratio was 138.1% in the same period.

• Equity ratio of 25.1%, lower than the 26.8% of December 2011.

• BH ranks sixth in terms of net worth and thirteenth in terms of assets in the local financial system.

(1) As adjusted for outstanding MBS at the end of each period.

SOURCE Banco Hipotecario S.A.