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

BUENOS AIRES, Argentina, Feb. 16, 2018 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) reports Fourth Quarter 2017 consolidated results.

Highlights
Executive Summary

• Total net income for the year was Ps. 1,593.4 million, 159.0% higher than the Ps. 615.3 million of 2016. Net income for the fourth quarter was Ps. 482.2 million, compared to Ps. 486.2 million and Ps. 136.4 million of previous quarter and same quarter of last year, respectively.
• Net financial margin for the year was Ps. 4,470.6 million, 58.6% higher than the Ps. 2,819.4 million for 2016. Net financial margin for the quarter was Ps. 1,465.2 million, 31.5% higher than the Ps. 1,114.5 million of previous quarter and 88.8% higher than the Ps. 776.0 million of same quarter of last year.
• Aggregated net income from services was Ps. 4,885.6 million, 25.6% higher than the Ps. 3,888.4 million of 2016. Net income from services for the quarter was Ps. 1,374.4 million, 11.5% higher than the Ps. 1,233.2 million of previous quarter and 20.1% higher than the Ps. 1,144.4 million of same quarter of last year.
• Loans to the private sector increased 11.7% in the quarter and 32.4% YoY.
• Deposits increased 5.1% in the quarter and 9.6% YoY while financial indebtedness increased 32.5% in the quarter and 60.0% YoY.
• On an individual basis, NPL increased from 1.6% in 2016 to 1.8% in 2017. Coverage ratio was 103.3%. On a consolidated basis, NPL increased from 2.7% in 2016 to 3.8% in 2017. Coverage ratio was 85.6%.
• Equity ratio as of December 31, 2017 was 11.7%, compared to 11.6% of 2016.
• In the fourth quarter the Bank issued Ps. 6,300.0 million at Badlar + 4.0% bonds due 2022 in the international DCM.

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SOURCE Banco Hipotecario S.A.