Welcome!

News Feed Item

Grupo Financiero Santander Mexico Reports Fourth Quarter 2012 Net Income of Ps.3,310 Million

-- Strong loan growth in commercial banking with YoY increases of 20.8% in consumer loans, 30.3% in credit cards, 76.7% in SMEs and 11.9% in mortgages

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."










Grupo Financiero Santander Mexico








Highlights









4Q12

3Q12


4Q11


YoY


Income Statement Data








Net interest income

8,811

8,582


7,811


12.8%


Fee and commission, net

3,339

3,065


2,496


33.8%


Core revenues

12,150

11,647


10,307


17.9%


Provisions for loan losses

2,948

2,535


2,041


44.4%


Administrative and promotional expenses

6,022

5,179


5,221


15.3%


Net income

3,310

4,214


7,741


-57.2%


Net income per share *

2.6

2.1


2.0


28.6%


Balance Sheet Data








Total loans

350,683

343,383


313,673


11.8%


Deposits

362,452

336,289


309,194


17.2%


Shareholders´s equity

97,827

94,793


88,479


10.6%


Key Ratios






pbs


Net interest margin

5.0%

5.0%


5.1%


(2.6)


Net loans to deposits ratio

93.6%

98.7%


97.8%


(427.1)


ROAE

19.1%

21.1%


21.9%


(273.2)


ROAA

2.3%

2.6%


2.6%


(31.7)


Efficiency ratio

39.5%

36.9%


44.2%


(469.3)


Capital ratio

14.8%

14.5%


14.8%


(5.0)


NPLs ratio

1.74%

1.61%


1.69%


4.3


Coverage ratio

190.1%

205.4%


210.5%


(2,046.1)


Operating Data






%


Branches**

1,170

1,123


1,125


4.0%


ATMs

4,946

4,840


4,689


5.5%


Customers

10,013,228

9,764,741


9,310,681


7.5%


Employees

13,385

12,766


12,395


8.0%










* Treasury Shares and discontinued operations are not included






** Includes Brokerage House Branches







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


Date:

Tuesday, February 19, 2013

Time:

8:00 AM (MCT); 9:00 AM (US ET)

Dial-in Numbers:

1-877-941-4774 US & Canada; 1-480-629-9760 International & Mexico

Access Code:

4595377

Webcast:

https://viavid.webcasts.com/starthere.jsp?ei=1013104

Replay:

 

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).


Dial-in number: 1-877-870-5176 US & Canada; 1-858-384-5517 International & Mexico


Access Code: 4595377

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.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
Containers are rapidly finding their way into enterprise data centers, but change is difficult. How do enterprises transform their architecture with technologies like containers without losing the reliable components of their current solutions? In his session at @DevOpsSummit at 21st Cloud Expo, Tony Campbell, Director, Educational Services at CoreOS, will explore the challenges organizations are facing today as they move to containers and go over how Kubernetes applications can deploy with lega...
In their session at @DevOpsSummit at 21st Cloud Expo, Michael Berman, VP Engineering at TidalScale, and Ivo Jimenez, Engineer at TidalScale, will describe how automating tests in TidalScale is easy thanks to WaveRunner. They will show how they use WaveRunner, Jenkins, and Docker to have agile delivery of TidalScale. Michael Berman is VP Engineering at TidalScale. TidalScale is developing a scale up compute and resource architecture for customers to perform big data exploration and real time anal...
I think DevOps is now a rambunctious teenager - it's starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discussed how a new approach is neces...
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...