GENTERA Reports 1Q14 Results

MEXICO CITY--()--GENTERA S.A.B. de C.V. (“GENTERA” or “the Company”) (BMV:GENTERA*) announced today non-audited consolidated financial results for the first quarter period ended March 31, 2014. All figures were prepared in accordance with requirements from the National Banking and Securities Commission (CNBV) and are expressed in nominal Mexican Pesos (Ps.).

1Q14 Highlights:

Total Loan Portfolio reached Ps. 21,371 million, a 9.0% increase compared with 1Q13.

Average Loan Portfolio grew 13.4% compared with 1Q13.

Loan Portfolio per subsidiary was distributed in the following manner:

• Banco Compartamos S.A. I.B.M. (Mexico) (Banco Compartamos) reached Ps. 16,975 million, a 3.7% increase versus 1Q13;

Average Loan Portfolio grew 10.2% compared with 1Q13.

• Compartamos Financiera (Peru) reached Ps. 4,182 million, a 35.3% increase versus 1Q13;

• Compartamos S.A. (Guatemala) reached Ps. 214 million, 54.1% higher compared with 1Q13

Net Income for the first quarter was Ps. 621 million, an increase of 22.0% compared with 1Q13.

NIM reached 55.2%, an improvement compared with 52.4% in 1Q13.

ROE was 26.9%, an improvement compared with 23.0% during 1Q13.

ROA was 9.7%, an improvement compared with 8.8% in 1Q13.

Non-performing loans (NPLs)* were 3.25%, from 3.64% in 1Q13.

Efficiency ratio for the quarter was 66.7%, compared with 63.1% reported in 1Q13.

YASTAS, GENTERA’s correspondent network manager, has 3,278 affiliates. Over 900 affiliates have been approved by the CNBV to execute financial transactions.

ATERNA, the Company’s micro-insurance broker, with operations in Mexico, Peru and Guatemala, sold over 3.2 million life insurance policies during 1Q14.

• At the close of the first quarter, 9,482,809 shares were repurchased through the Company’s share buyback program established on April 25, 2013.

• At the annual shareholders’ meeting held on April 24, 2014, GENTERA´s shareholders approved reestablishing the original share buyback program amount for Ps. 700 million.

In April 2014, GENTERA ranked #1 in the Best Place to Work in Mexico nominations by the Great Place to Work Institute. Additionally, GENTERA was also recognized as one of the Top 10 Best Companies to Work For, for the 7th consecutive year.

During the quarter more than 540 thousand financial literacy articles were distributed to clients, employees and communities served by the Company.

*During 4Q13, Banco Compartamos’ financial accounting treatment for write-offs changed; credits that are over 180 days past due would be written off (vs. 270 days past due, previously).

Comments from Mr. Carlos Labarthe, GENTERA’s CEO:

GENTERA begins this year strongly motivated with the opportunities and challenges faced during the first quarter. Committed to eradicate financial exclusion, GENTERA continues growing in terms of the number of clients being served through its various companies, Compartamos (Guatemala, Mexico and Peru), Aterna and Yastás. At the close of the first quarter, GENTERA reported portfolio growth of 9.0% and an increase of 22.0% in Net Income compared with 1Q13.

As of March 31, GENTERA´s microfinance subsidiaries, Compartamos, served more than 2.84 million clients in the 3 countries where we have presence, highlighting that our Group Lending Methodology is expanding successfully in Peru and Guatemala, where we currently serve 54,605 and 71,369 clients respectively, under this methodology. YASTÁS, our correspondent network manager in Mexico, now has over 900 affiliates authorized to perform financial transactions. ATERNA, our micro-insurance broker, continues maintaining solid momentum distributing life insurance policies, with over 3.2 million life insurances sold during 1Q14 as evidence.

GENTERA is a company that is in constant motion and that seeks to better serve its clients each day, given the fact that our clients are at the center of GENTERA’s decisions and actions. We are motivated and excited about continuing to generate social, economic and human value to our clients, shareholders and employees.

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Enrique Barrera Flores, Investor Relations Officer
Beatriz Sánchez Covarrubias, Investor Relations
Telephone: +52 (55) 5276-7379


Enrique Barrera Flores, Investor Relations Officer
Beatriz Sánchez Covarrubias, Investor Relations
Telephone: +52 (55) 5276-7379