BHPTY Banco Hipotecario Sa (PK)

BUENOS AIRES, Argentina, Feb. 11, 2014 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) announces its fourth quarter 2013 results.

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Highlights
Executive Summary

• Total net income for the year was Ps. 421.0 million, 22.5% higher than Ps. 343.6 million of 2012. Net income for the fourth quarter was Ps. 121.3 million, compared to Ps. 147.3 million and Ps. 111.7 million of last quarter and same quarter of previous year, respectively.
• Net financial margin for the year was Ps. 1,629.6 million and Ps. 1,042.1 million for 2012. Net financial margin for the quarter was Ps. 532.7 million, compared to Ps. 499.1 million of last quarter and Ps. 289.4 million of same quarter of last year.
• Aggregated net income from services of Ps. 1,219.3 million was 24.3% higher than 2012. Net income from services for the quarter was Ps. 335.5 million 13.6% higher than previous quarter, and 30.6% higher than fourth quarter 2012.
• Loans to the private sector increased 11.2% in the quarter and 36.0% YoY.
• Deposits increased 6.3% in the quarter and a 35.9% YoY growth.
• NPL stable around 2.2%. Coverage ratio was 101.4%.
• Equity ratio of 18.9%, compared with 21.6% of 2012.
• BH ranks eleventh in terms of net worth and fourteenth in terms of assets in the local financial system.

SOURCE Banco Hipotecario S.A.