MEXICO CITY, July 30, 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- and six-month periods ending June 30, 2015.
Santander Mexico reported net income for the quarter of Ps.3,238
million, representing a YoY decline of 12.2% and a QoQ increase of
0.7%.
Grupo Financiero
Santander Mexico
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Highlights
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|
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2Q15
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1Q15
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2Q14
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%
YoY
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Income Statement
Data
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|
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|
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Net interest
income
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10,466
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9,925
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9,262
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13.0
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Fee and commission,
net
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4,011
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3,298
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3,291
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21.9
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Core
revenues
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14,477
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13,223
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12,553
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15.3
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Provisions for loan
losses
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4,543
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3,683
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3,672
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23.7
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Administrative and
promotional expenses
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6,391
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6,389
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5,921
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7.9
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Net income
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3,238
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3,215
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3,687
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(12.2)
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Net income per
share1
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0.95
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0.47
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1.03
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(7.8)
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Balance Sheet
Data
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Total
loans
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498,500
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474,738
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440,675
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13.1
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Deposits
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482,205
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459,130
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425,108
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13.4
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Shareholders'
equity
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108,871
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109,003
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101,912
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6.8
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Key
Ratios
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bps
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Net interest
margin
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4.84%
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4.87%
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4.96%
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(11.3)
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Net loans to deposits
ratio
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99.5%
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99.6%
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99.8%
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(29.2)
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ROAE2
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12.0%
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12.0%
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14.1%
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(208.4)
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ROAA
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1.3%
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1.3%
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1.6%
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(30.6)
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Efficiency
ratio
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43.5%
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44.8%
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42.9%
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56.7
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Capital
ratio
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15.9%
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16.6%
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16.1%
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(21.0)
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NPLs ratio
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3.77%
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3.68%
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3.33%
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44.3
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Cost of
Risk
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3.4%
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3.1%
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3.4%
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(0.5)
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Coverage
ratio
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99.1%
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99.6%
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111.8%
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(1,263.4)
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Operating
Data
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%
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Branches and
offices3
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1,356
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1,350
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1,293
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4.9
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ATMs
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5,756
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5,672
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5,315
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8.3
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Customers
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12,166,776
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12,062,710
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11,159,430
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9.0
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Employees
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16,768
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16,435
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14,375
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16.6
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1) Accumulated EPS,
net of treasury shares (compensation plan) and discontinued
operations. Calculated by using weighted shares.
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2) ROAE as
reported
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3) As of 2Q15
includes: 1,078 branches + 18 SME offices + 7 SME branches + 117
cash desks + 11 Select offices + 45 Select units + 56 Select boxes
+ 24 brokerage house branches
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Marcos Martinez, Grupo
Financiero Santander Mexico's Executive President and CEO,
commented, "We reported a strong business performance
this quarter, with all core products expanding well-above system
growth rates reflecting our focus on client service and attractive
product offering."
"Most significantly, consumer loans, ex-credit cards, were up
31% year-on-year and 14% sequentially. Even excluding the
acquisition of the Scotiabank portfolio effective on April, this
loan portfolio expanded 7% sequentially, more than doubling system
growth driven by our renewed focus on payroll and personal loans.
An effective cross selling strategy implemented with the newly
acquired customers also contributed to this performance. Despite
soft growth in credit cards, up 4% sequentially, we exceeded market
growth by more than four times. Mortgage loans rose 14% from 2Q14,
well-above the system as we continue to leverage our wide product
offering and our position as Mexico's leading mortgage originator. SME
loans posted a 24% year-on-year increase, also beating the market,
maintaining our leadership position in this profitable market as we
continue to drive our cross-selling efforts and differentiated
financial services."
"We maintained prudent risk management as we continued to drive
loan growth. Cost of risk increased 28 basis points sequentially to
3.41% reflecting the anticipated increase in loan loss reserves
this quarter, but remained stable year-on-year."
"Efficiency levels, improved 130 basis points sequentially, down
to 43.5% as costs remained stable reflecting our tight cost
management. Gross operating income increased 8% year-on-year,
driven by strong growth in core earnings supported by our effective
commercial efforts to drive more profitable consumer loans while
trading gains were weaker this quarter. Net income, however, was
impacted by several factors including the anticipated increases in
loan loss reserves, the effective tax rate and lower trading
gains."
Mr. Martinez concluded, "Looking ahead, loan growth is
anticipated to continue the gradual recovery experienced over the
past quarters, as we leverage our differentiated product offering
and strong market position in our core segments. We remain fully
committed to the development of our country through our
participation in the energy and infrastructure sectors and expect
to continue executing our strong pipeline as projects move
forward."
To obtain the full text of this earnings report and the
2Q15 earnings presentation, please click on the following
link:
http://www.santander.com.mx/ir/english/financial/quarterly.html
2Q15 EARNINGS CALL DIAL-IN INFORMATION
Date:
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Thursday, July 30,
2015
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Time:
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10:00 AM (MCT); 11:00
AM (US ET)
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Dial-in
Numbers:
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1-888-263-2905 US
& Canada; 1-913-312-1471 International & Mexico
|
Access
Code:
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9701633
|
Webcast:
|
http://public.viavid.com/index.php?id=115090
|
Replay:
|
Thursday, July 30,
2015 at 2:00 pm US ET, and Thursday, August 6, 2015 at 11:59 pm US
ET
|
|
Dial-in number:
1-877-870-5176 US & Canada; 1-858-384-5517 International &
Mexico Access Code: 9701633
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INVESTOR RELATIONS CONTACT
Hector Chavez Lopez – Managing Director -
IRO
+ 52 (55) 5269-1925
hchavez@santander.com.mx
Gerardo Freire Alvarado –
Executive Director of Investor Relations
+ 52 (55)
5269-1827 / + 52 (55) 5269-1828
gfreire@santander.com.mx
Investor Relations
Team
investor@santander.com.mx
www.santander.com.mx
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
June 30, 2015, Santander Mexico had
total assets of Ps.1,065 billion under Mexican Banking GAAP and
more than 12 million customers. Headquartered in Mexico City, the Company operates 1,078
branches and 278 offices nationwide and has a total of 16,768
employees.
We, the undersigned under oath to tell the truth declare that,
in the area of our corresponding functions, we prepared the
information on Grupo Financiero Santander Mexico contained in this
quarterly report, which to the best of our knowledge reasonably
reflects its situation.
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-second-quarter-2015-loan-portfolio-up-131-yoy-and-net-income-of-ps3238-million-300121198.html
SOURCE Grupo Financiero Santander Mexico, S.A.B. de C.V.