Gentera, S.A. B. de C. V. Reports Unaudited Consolidated Financial Results for the Third Quarter and First Nine Months Ended September 30, 2017; Provides Financial Guidance for the Year 2017; Plans to Pay Dividend on December 1, 2017
October 25, 2017 at 07:30 pm IST
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Gentera, S.A. B. de C. V. reported unaudited consolidated financial results for the third quarter and first nine months ended September 30, 2017. For the third quarter, interest income was MXN 5.3 billion, representing a 1.5% increase in compared to MXN 5.2 million reported in the same period of 2016, mainly driven by the reprising initiatives in Banco Compartamos credit products that started in February this year. In terms of profitability, the return on average equity and the return on average assets stood at 18.2% and 7.3% respectively. Net interest income was MXN 4,909 million against MXN 4,905 million reported last year. Net interest income after provisions was MXN 4,048 million against MXN 4,058 million reported last year. Net operating income was MXN 1,083 million against MXN 1,271 million reported last year. Total income before income tax was MXN 1,067 million against MXN 1,254 million reported last year. Net income was MXN 750 million against MXN 918 million reported last year. Participation (in net income) from controlling company was MXN 743 million against MXN 914 million reported last year. ROA was 8.9% against 13.0% reported last year. ROE was 20.8% against 36.9% reported last year. Earnings per share (EPS) in quarter stood at $0.46.
For the nine months period of the year 2017, the company reported net income of MXN 2,562 million, which represented a 10.7% contraction compared to the MXN 2,870 million, which is the same period last year. for the quarter. Participation (in net income) from controlling company was MXN 2,548 million against MXN 2,861 million reported last year. Interest income was MXN 15,632 million against MXN 14,660 million reported last year. Net interest income was MXN 14,467 million against MXN 13,829 million reported last year. Net interest income after provisions was MXN 11,797 million against MXN 11,612 million reported last year. Net operating income was MXN 3,564 million against MXN 4,110 million reported last year. Total income before income tax was MXN 3,538 million against MXN 4,049 million reported last year. Net income was MXN 750 million against MXN 918 million reported last year. ROA was 10.1% against 12.3% reported last year. ROE was 23.8% against 34.2% reported last year.
Also worth highlighting is that in accordance with the dividend approved on April 20, 2017 at Gentera's Annual Shareholder Meeting, the second and final payment equivalent to MXN 0.38 per share will be paid on December 1, 2017.
For 2017, the company see a contraction not only in portfolio, but also of net income for the year, which will be below the flat guidance that it guided for the year 2017.
Gentera SAB de CV (Gentera), formerly Compartamos SAB de CV, is a Mexico-based financial institution specialized in banking and credit services. Genteraâs main activities are: granting loans and credits to communal banks, community groups, low-income individuals; offering saving accounts, insurance policies, administration and human resources services, making payments of family remittance and granting operation with securities and other financial instruments. The Company operates in Mexico, the United States, Guatemala and Peru, through such subsidiaries as: Compartamos Banco, a micro-financing bank; Yastas, a network of affiliated merchants that provide payments and financial transactions, Pagos Intermex SA de CV, the payment of family remittances company and Aterna, an intermediary between the distribution channels and the insurance industry.
Gentera, S.A. B. de C. V. Reports Unaudited Consolidated Financial Results for the Third Quarter and First Nine Months Ended September 30, 2017; Provides Financial Guidance for the Year 2017; Plans to Pay Dividend on December 1, 2017
GENTERA, S.A.B. DE C.V. 
