GENTERA Reports 3Q15 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 third quarter period ended September 30, 2015. All figures were prepared in accordance with requirements from the National Banking and Securities Commission (CNBV) and are expressed in nominal Mexican pesos (Ps.).

3Q15 Highlights:

  • Total Loan Portfolio reached Ps. 27,496 million, a 17.6% increase compared with 3Q14.

    Loan Portfolio per subsidiary was distributed as follows:
    • Banco Compartamos S.A. I.B.M. (Mexico) (Banco Compartamos) reached Ps. 21,929 million, a 16.3% increase versus 3Q14;
    • Compartamos Financiera (Peru) reached Ps. 5,216 million, a 20.6% increase versus 3Q14; and

    • Compartamos S.A. (Guatemala) reached Ps. 351 million, 76.2% higher compared with 3Q14.
  • Net Income for the third quarter was Ps. 882 million, a 28.9% increase compared with the Recurring Net Income of Ps. 675 million achieved in 3Q14.
  • NIM stood at 58.0%, compared with 53.8% in 3Q14.
  • ROE stood at 28.8%, compared with 45.1% during 3Q14.
  • ROA reached 10.3%, compared with 16.5% in 3Q14.
  • Non-performing loans (NPLs) for 3Q15 were 2.96%, compared to 2.87% in 3Q14.
  • Efficiency ratio for 3Q15 was 65.8%, compared with 62.7% reported in 3Q14.
  • On September 9, Banco Compartamos’ global investment grade was affirmed at 'BBB/A-2' by Standard and Poor’s; with a national scale rating of 'mxAAA/mxA-1+'.
  • YASTAS1 executed more than 640 thousand financial transactions during the quarter, 93% more financial transactions compared to the 330 thousand transactions in 2Q15 and reached nearly 2,000 affiliates at the end of the third quarter.
  • ATERNA2 concluded the quarter with 4.19 million active life insurance policies throughout its operations in Mexico, Peru and Guatemala.
  • With 60 branches and with a network of more than 1,000 affiliates, INTERMEX3 executed over 1 million transactions, representing more than Ps. 4,400 million pesos.
  • At the end of the third quarter the Company has repurchased 3,002,508 shares through the share buyback program reestablished on April 24, 2015.
  • At the end of 3Q15, more than 12,600 employees participated in volunteer activities and programs throughout various local communities. GENTERA invested over Ps. 45 million into social responsibility programs benefitting over 209 thousand people. These programs included financial education as well as environmental initiatives.

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

GENTERA concluded another solid quarter of continued growth. Just as we had anticipated, the second half of the year took off at a much quicker pace than the first half, enabling us to deliver solid growth throughout Compartamos network. The Consolidated Total Loan Portfolio reached Ps. 27,496 million, a 17.6% increase compared with 3Q14, with a 16.3% increase at Banco Compartamos, a 20.6% increase at Compartamos Financiera in Peru and a 76.2% increase in Compartamos S.A. in Guatemala.

At the end of the period GENTERA’s financial subsidiaries served 3.1+ million clients throughout the network, a 7.4% increase compared to 3Q14 and the number of service offices reached 747, versus only 627 this time last year.

We are also focused on innovation; gpd examples of this are INTERMEX and YASTAS. During the quarter, Intermex executed over 1 million transactions, handling more than Ps. 4.4 billion pesos during this quarter alone. Yastas, on the other hand, executed nearly 3.5 million transactions, out of which 645 thousand were financial transactions that came through the network.

ATERNA, the Company’s insurance broker, concluded the third quarter of the year with close to 4.2 million active life insurance policies throughout operations in Mexico, Peru and Guatemala.

We at GENTERA are strongly motivated and enthusiastic to continue our trajectory of growth and discipline in order to successfully reach the year-end goals as well as come closer to achieving our mission of eradicating financial exclusion. As we have done since our inception, 25 years ago, we will continue honoring the name and beliefs of GENTERA, and generating social, economic and human value to the highest possible number of people.

For a full version of this release, please visit www.gentera.com.mx.

About GENTERA
GENTERA, S.A.B. de C.V. (formerly Compartamos, S.A.B. de C.V.) is a holding company whose primary objective is to promote, organize and manage companies, domestic and international, that are subject to its investment policies. GENTERA was established in 2010 and is headquartered in Mexico. Its shares began trading on the Mexican Stock Exchange on December 24, 2010 under the ticker symbol COMPARC*. On January 2, 2014, the ticker symbol was changed to GENTERA*.

Note on Forward-Looking Statements

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

1 GENTERA’s correspondent network manager

2 GENTERA’s micro-insurance broker

3 GENTERA’s remittances company

Contacts

GENTERA S.A.B. de C.V.
Enrique Barrera Flores
Investor Relations Officer
or
Beatriz Sánchez Covarrubias
Investor Relations
+52 (55) 5276-7379

Contacts

GENTERA S.A.B. de C.V.
Enrique Barrera Flores
Investor Relations Officer
or
Beatriz Sánchez Covarrubias
Investor Relations
+52 (55) 5276-7379