MEXICO CITY, April 28, 2015 /PRNewswire/ -- Grupo
Financiero Santander Mexico, S.A.B. de C.V., (NYSE: BSMX) (BMV:
SANMEX), ("Santander Mexico"), one of the leading financial
groups in Mexico, today announced
financial results for the three-month period ending March 31, 2015.
Santander Mexico reported net income for the quarter of Ps.3,215
million, representing declines of 1.4% and 15.9% YoY and QoQ,
respectively.
Grupo Financiero
Santander Mexico
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Highlights
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1Q15
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4Q14
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1Q14
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%
YoY
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Income Statement
Data
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Net interest
income
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9,925
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9,799
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8,993
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10.4
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Fee and commission,
net
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3,298
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3,364
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3,423
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(3.7)
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Core
revenues
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13,223
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13,163
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12,416
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6.5
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Provisions for loan
losses
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3,683
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3,334
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3,469
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6.2
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Administrative and
promotional expenses
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6,389
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6,059
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5,902
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8.3
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Net income
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3,215
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3,824
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3,259
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(1.4)
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Net income per
share1
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0.47
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2.07
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0.48
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(2.1)
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Balance Sheet
Data
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Total
loans
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474,738
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465,541
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409,349
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16.0
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Deposits
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459,130
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459,624
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401,081
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14.5
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Shareholders'
equity
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109,003
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105,384
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98,106
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11.1
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Key
Ratios
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bps
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Net interest
margin
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4.87%
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4.86%
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5.05%
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(18.5)
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Net loans to deposits
ratio
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99.6%
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97.6%
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98.1%
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156.2
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ROAE2
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12.0%
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14.0%
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13.5%
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(152.5)
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ROAA
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1.3%
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1.6%
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1.5%
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(25.7)
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Efficiency
ratio
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44.8%
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43.0%
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44.3%
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53.4
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Capital
ratio
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16.6%
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16.2%
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15.7%
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88.7
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NPLs ratio
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3.68%
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3.75%
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3.40%
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27.4
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Cost of
Risk
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3.1%
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3.3%
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3.5%
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(31.7)
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Coverage
ratio
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99.6%
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97.1%
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115.4%
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(1,586.9)
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Operating
Data
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%
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Branches and
offices3
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1,350
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1,346
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1,279
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5.6
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ATMs
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5,672
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5,528
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5,295
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7.1
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Customers
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12,062,710
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11,724,151
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10,911,728
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10.5
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Employees
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16,435
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16,428
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14,384
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14.3
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1) Calculated by
using weighted shares. Treasury Shares and discontinued operations
are not included.
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2) ROAE as
reported
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3) As of 1Q15
includes: 1,076 branches + 18 SME offices + 6 SME branches + 117
cash desks + 11 Select offices + 44 Select units + 54 Select boxes
+ 24 brokerage house branches
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Marcos Martinez, Grupo
Financiero Santander Mexico's Executive President and CEO,
commented, "This was a good quarter; we continued to
expand our loan portfolio leveraging the consistent signs of
economic recovery, again beating system growth rates while further
enhancing asset quality and maintaining a stringent focus on cost
controls. Gross operating income reached a record high surpassing
the Ps.14 billion mark."
"Our continued focus on client service and attractive product
offering allowed us to report a 16% YoY increase in our loan book
achieving a positive performance across all segments. Most
importantly, consumer loans – excluding credit cards – rose 21%
YoY, more than doubling market growth. And while credit card use
remains weak we expanded this product by 4% YoY, doubling system
rates. Furthermore, we maintain our leadership position in the
highly attractive SME market, increasing this portfolio up 24%
year-on-year. Mortgage loans rose 15% YoY, remaining the leading
mortgage originator in the country, with middle market loans also
posting strong growth – up 15% year-on-year and doubling the
market."
"Growth was achieved while lowering cost of risk by 19 bps QoQ
and 32 bps YoY and increasing the coverage ratio to close to 100%.
NPLs showed sequential improvements across most segments."
"While net income was impacted by a higher effective tax rate,
costs related to our branch expansion and lower investment banking
and credit card fees, gross operating income increased 8%
year-on-year, above growth in expenses and loan loss reserves."
"During the quarter we finalized the agreement to acquire a
consumer loan portfolio of approximately Ps.3.2 billion from
Scotiabank Inverlat S.A. as announced on November 2014. This acquisition became effective
on April 2015 and added approximately
39,000 new clients."
Mr. Martinez concluded, "Looking forward, we expect loan growth
to remain strong based on our cautiously optimistic view of the
recovery of the Mexican economy, particularly given the recent
pick-up in consumer activity. Our results are also expected to
benefit from increasing investment banking activity fees as
external volatility subsides and the execution of large energy and
infrastructure projects moves ahead. We are confident that our
solid franchise, attractive product offering and a motivated team
will allow us to continue contributing to the economic development
of the country."
To obtain the full text of this earnings report and the
1Q15 earnings presentation, please click on the
following link:
http://www.santander.com.mx/ir/english/financial/quarterly.html
1Q15 EARNINGS CALL DIAL-IN INFORMATION
Date:
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Tuesday, April 28,
2015
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Time:
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09:00 AM (MCT); 10:00
AM (US ET)
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Dial-in
Numbers:
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1-888-715-1387 US
& Canada; 1-913-312-1496 International & Mexico
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Access
Code:
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1979372
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Webcast:
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https://viavid.webcasts.com/starthere.jsp?ei=1061113
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Replay:
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Starting on Tuesday,
April 28, 2015 at 1:00 pm US ET (12:00 pm MCT), and ending on
Tuesday, May 5, 2015 at 11:59 pm US ET (10:59 pm MCT)
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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:
1979372
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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
March 31, 2015, Santander Mexico had
total assets of Ps.1,066 billion under Mexican Banking GAAP and
more than 12 million customers. Headquartered in Mexico City, the Company operates 1,076
branches and 274 offices nationwide and has a total of 16,435
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 may 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 our annual report20F. 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 for inflation.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/grupo-financiero-santander-mexico-reports-first-quarter-2015-loan-portfolio-up-160-yoy-and-net-income-of-ps3215-million-300073228.html
SOURCE Grupo Financiero Santander Mexico, S.A.B. de C.V.