Banco Hipotecario S.A. reports Third Quarter 2017 consolidated results

BUENOS AIRES, Argentina, Nov. 10, 2017 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) reports Third Quarter 2017 consolidated results.

Highlights 
Executive Summary

• Net income for the third quarter was Ps. 486.2 million, compared to Ps. 372.3 million and Ps. 103.6 million of last quarter and same quarter of previous year, respectively, representing a 30.6% QoQ and a 369.2% YoY increase.
• Net financial margin for the quarter was Ps. 1,114.5 million, compared to Ps. 1,072.4 million of last quarter and Ps. 576.5 million of same quarter of last year, representing a 3.9% QoQ and a 93.3% YoY increase.
• Net income from services for the quarter of Ps. 1,233.2 million increased 11.2% QoQ and 22.1% YoY.
• Loans to the private sector increased 2.4% in the quarter and 39.1% YoY.
• Deposits decreased 0.4% in the quarter and increased 2.4% YoY while our financial indebtedness increased 3.5% QoQ and 91.8% YoY.
• NPL remained stable at 3.1%, compared to 2.9% in the previous quarter. Coverage ratio for the third quarter was 85.7%, and 83.2% in the previous quarter.
• The equity ratio was 12.9%, compared to 12.1% in the previous quarter and 12.9% in the same quarter of previous year.

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SOURCE Banco Hipotecario S.A.