MEXICO CITY, Feb. 18, 2013 /PRNewswire/ -- Grupo
Financiero Santander Mexico, S.A.B. de C.V., (NYSE: BSMX; BMV:
SANMEX), ("Santander Mexico"), one of the leading financial
groups in the Mexican financial system, today announced financial
results for the three- and twelve-month periods ending December 31, 2012.
Comparable net income for 4Q12 was Ps.3,938 million,
representing a 16.0% YoY increase. Including a non-recurring gain
of Ps.4,348 million in 4Q11 from the sale of the insurance business
to Zurich Financial Services Group ("Zurich"), as well as, incremental
administrative and promotional expenses, an accounts receivable
write-off and higher provisions in 4Q12, reported net income for
the quarter was Ps.3,310 million, representing a decrease of 57.2%
YoY and 21.5% on a sequential basis.
Comparable net income for FY12 increased by 31.4%, or Ps.4,124
million, to Ps.17,238 million. Including an extraordinary gain of
Ps.4,822 million from the sale of the insurance business and income
from this business in FY11, a Ps.1,067 million extraordinary gain
in 3Q11 from the reversal of provisions to comply with CNBV
(Comision Nacional Bancaria y de Valores) regulations, and a
Ps.1,731 million gain from the sale and leaseback of 220 branches
in 2Q12, as well as, higher costs and provisions in 4Q12 as
discussed above, reported net income for FY12 was Ps.17,822
million, a 4.6% decrease, from FY11
Marcos Martinez, Executive
Chairman and CEO, commented, "We reported a solid operating
performance this quarter, balancing robust growth with strong asset
quality and operational efficiency. Net interest income expanded
13% year-on-year and net commissions and fees grew 34%. Continued
growth in retail loans underscores the merits of our strategic
focus. Performance in key business segments was strong in 2012,
with year-on-year increases of 21% in consumer loans, 30% in credit
cards, and 77% in loans to small and medium enterprises ("SMEs").
We achieved growth while maintaining a strong focus on prudent risk
management - reflected in controlled NPL ratios and a stable cost
of risk. This, together with our
efficiency-oriented culture, positions Santander Mexico as one of
the most profitable franchises in the country."
Mr. Martinez continued, "We expect Santander Mexico's
momentum to continue in 2013 and beyond, supported by our sharp
strategic focus, our favorable view of Mexico's political and economic landscape, and
our expectations for attractive yet sensible Mexican financial
system growth."
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Grupo
Financiero Santander Mexico
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Highlights
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4Q12
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3Q12
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4Q11
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YoY
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Income
Statement Data
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Net
interest income
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8,811
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8,582
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7,811
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12.8%
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Fee and
commission, net
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3,339
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3,065
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2,496
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33.8%
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Core
revenues
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12,150
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11,647
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10,307
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17.9%
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Provisions
for loan losses
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2,948
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2,535
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2,041
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44.4%
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Administrative and promotional expenses
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6,022
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5,179
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5,221
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15.3%
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Net
income
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3,310
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4,214
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7,741
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-57.2%
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Net income
per share *
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2.6
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2.1
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2.0
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28.6%
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Balance
Sheet Data
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Total
loans
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350,683
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343,383
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313,673
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11.8%
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Deposits
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362,452
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336,289
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309,194
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17.2%
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Shareholders´s equity
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97,827
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94,793
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88,479
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10.6%
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Key
Ratios
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pbs
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Net
interest margin
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5.0%
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5.0%
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5.1%
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(2.6)
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Net loans
to deposits ratio
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93.6%
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98.7%
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97.8%
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(427.1)
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ROAE
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19.1%
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21.1%
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21.9%
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(273.2)
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ROAA
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2.3%
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2.6%
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2.6%
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(31.7)
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Efficiency
ratio
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39.5%
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36.9%
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44.2%
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(469.3)
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Capital
ratio
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14.8%
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14.5%
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14.8%
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(5.0)
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NPLs
ratio
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1.74%
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1.61%
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1.69%
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4.3
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Coverage
ratio
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190.1%
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205.4%
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210.5%
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(2,046.1)
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Operating Data
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%
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Branches**
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1,170
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1,123
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1,125
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4.0%
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ATMs
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4,946
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4,840
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4,689
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5.5%
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Customers
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10,013,228
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9,764,741
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9,310,681
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7.5%
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Employees
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13,385
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12,766
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12,395
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8.0%
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* Treasury
Shares and discontinued operations are not included
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**
Includes Brokerage House Branches
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To obtain the full text of this earnings report and the
4Q12 earnings presentation, please click on the following
link:
http://www.santander.com.mx/ir/inf_financiera/inf_trimestral.html
4Q12
EARNINGS CALL DIAL-IN INFORMATION
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Date:
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Tuesday,
February 19, 2013
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Time:
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8:00 AM
(MCT); 9:00 AM (US ET)
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Dial-in
Numbers:
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1-877-941-4774 US & Canada; 1-480-629-9760
International & Mexico
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Access
Code:
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4595377
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Webcast:
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https://viavid.webcasts.com/starthere.jsp?ei=1013104
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Replay:
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Starting
Tuesday, February, 19, 2013 at 12:00 PM (MCT); 01:00 PM (US ET),
and ending on Tuesday, February 26, 2013
at 10:59 PM (MCT); 11:59 PM (US ET).
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Dial-in
number: 1-877-870-5176 US & Canada; 1-858-384-5517
International & Mexico
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Access
Code: 4595377
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About Grupo Financiero Santander Mexico, S.A.B. de C.V.
(NYSE: BSMX BMV: SANMEX)
Grupo Financiero Santander Mexico,
S.A.B. de C.V. (Santander Mexico), one of Mexico's leading financial services holding
companies, provides a wide range of financial and related services,
including retail and commercial banking, securities brokerage,
financial advisory and other related investment activities.
Santander Mexico offers a multichannel financial services platform
focused on mid- to high-income individuals and small- to
medium-sized enterprises, while also providing integrated financial
services to larger multinational companies in Mexico. As of December
31, 2012, Santander Mexico had total assets of Ps.750.3
billion under Mexican GAAP and more than 10.0 million customers.
Headquartered in Mexico City, the
Company operates 1,170 branches nationwide and has a total of
13,385 employees.
LEGAL DISCLAIMER
Grupo Financiero Santander Mexico cautions that this report may
contain forward-looking statements within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements could be found in various places
throughout this report and include, without limitation, statements
regarding our intent, belief, targets or current expectations in
connection with: asset growth and sources of funding; growth of our
fee-based business; expansion of our distribution network; our
focus on strategic businesses; our compound annual growth rate; our
risk, efficiency and profitability targets; financing plans;
competition; impact of regulation; exposure to market risks
including interest rate risk, foreign exchange risk and equity
price risk; exposure to credit risks including credit default risk
and settlement risk; projected capital expenditures; capitalization
requirements and level of reserves; liquidity; trends affecting the
economy generally; and trends affecting our financial condition and
our results of operations. While these forward-looking statements
represent our judgment and future expectations concerning the
development of our business, a number of risks, uncertainties and
other important factors could cause actual developments and results
to differ materially from our expectations. These factors include,
but are not limited to: changes in capital markets in general that
may affect policies or attitudes towards lending to Mexico or Mexican companies; changes in
economic conditions, in Mexico in
particular, in the United States
or globally; the monetary, foreign exchange and interest rate
policies of the Mexican Central Bank (Banco de Mexico); inflation; deflation; unemployment;
unanticipated turbulence in interest rates; movements in foreign
exchange rates; movements in equity prices or other rates or
prices; changes in Mexican and foreign policies, legislation and
regulations; changes in requirements to make contributions to, for
the receipt of support from programs organized by or requiring
deposits to be made or assessments observed or imposed by, the
Mexican government; changes in taxes; competition, changes in
competition and pricing environments; our inability to hedge
certain risks economically; economic conditions that affect
consumer spending and the ability of customers to comply with
obligations; the adequacy of allowances for loans and other losses;
increased default by borrowers; technological changes; changes in
consumer spending and saving habits; increased costs; unanticipated
increases in financing and other costs or the inability to obtain
additional debt or equity financing on attractive terms; changes
in, or failure to comply with, banking regulations; and certain
other factors indicated in the "Risk Factors" section of our
Registration Statement on Form F-1 (File No. 333-183409). The risk
factors and other key factors that we have indicated in our past
and future filings and reports, including those with the U.S.
Securities and Exchange Commission, could adversely affect our
business and financial performance.
Note: The information contained in this report is not audited.
Nevertheless, the consolidated accounts are prepared on the basis
of the accounting principles and regulations prescribed by the
Mexican National Banking and Securities Commission (Comision
Nacional Bancaria y de Valores) for credit institutions, as amended
(Mexican Banking GAAP). All figures presented are in nominal terms.
Historical figures are not adjusted by inflation.
SOURCE Grupo Financiero Santander Mexico, S.A.B. de C.V.