Banco Hipotecario SA Reports Second Quarter 2019 Consolidated Results

BUENOS AIRES, Argentina, Aug. 7, 2019 /PRNewswire/ -- Banco Hipotecario S.A. (BCBA: BHIP) reports Second Quarter 2019 consolidated results.

Highlights
Executive Summary

• Net income for the quarter was Ps. 615.8 million, compared to Ps. 36.6 million of last quarter and Ps. 486.1 million of same quarter last year.
  
  
• Net operating income for the quarter was Ps. 4,127.9 million, 45.6% higher than the Ps. 2,834.3 million of previous quarter and 26.3% higher than the Ps. 3,268.9 million of same quarter of last year. Operating income for the quarter was Ps. 618.9 million, compared to Ps. (76.1) million of previous quarter and Ps. 708.8 million of same quarter of last year.
  
  
• As of March 31, 2019, Liquidity Coverage Ratio (LCR) was 262%, Net Stable Funding Ratio (NSFR) was 160.4% and the liquid assets to deposits ratio was 101.3%.
  
  
• Loans to the non financial private sector decreased 4.0% QoQ and 9.4% YoY.
  
  
• Deposits increased 2.2% QoQ and increased 10.2% YoY, while corporate bonds decreased 6.3% QoQ and 2.7% YoY.
  
  
• On a consolidated basis, NPL increased from 11.9% in Q1 2019 to 13.3% in Q2 2019, mainly driven by the nominal decrease in the total loan portfolio mentioned before. Besides, the quarterly growth rate of the non-performing loans of the consumer portfolio was significantly lower than previous quarter, decreasing from 14.7% to 6.5%. Coverage ratio remained at 52.2% for the period.
  
  
• Total capital ratio as a percentage of RWA as of June 30, 2019 was 12.92%, compared to 12.66% of previous quarter and 11.95% of same quarter of last year.
  
  
• On July 24, 2019, the shareholders approved in an extraordinary general meeting the absorption of Tarshop S.A.U. and BH Valores S.A.

Contacts:

Martín Diez
Eliezer Baschkier
Capital Markets
Tel. (54-11) 4347- 5856/5967
Fax (54-11) 4347-5874
Buenos Aires, Argentina
mdiez@hipotecario.com.ar 
baschkier@hipotecario.com.ar

Tomás Godino
CFO
Tel. (54-11) 4347-5759

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SOURCE Banco Hipotecario S.A.