Banco Hipotecario posts 3Q14 results.
BANKING AND CREDIT NEWS-November 11, 2014--Banco Hipotecario posts 3Q14 results
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11 November 2014 -- Argentina-based Banco Hipotecario SA (BCBA: BHIP) has posted net income for 3Q14 of ARS 145.3m compared to ARS 156.0m and ARS 147.3m of 2Q14 and 3Q13 respectively.
Net financial margin for 3Q14 was ARS 638.1m, compared to ARS 543.5m of 2Q14 and ARS 499.1m of 3Q13. Net income from services for 3Q14 of ARS 483.1m increased 11.9% QoQ and 63.6% YoY.
Loans to the private sector increased 1.8% in 3Q14 and 31.9% YoY. Deposits increased 10.6% in 3Q14 and had a 50.2% YoY growth.
NPL slightly increased from 2.4% to 2.6% in 3Q14. Coverage ratio was 90.0%. Equity ratio of 14.2% compared to 16.3% of June 2014.
Banco Hipotecario is a commercial bank in Argentina.
Find out more at www.hipotecario.com.ar.
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