Welcome!

News Feed Item

Grupo Financiero Interacciones Reports Strong Financial Position in 4Q13; 18.46% ROE Following Equity Offering

- Loan portfolio up 13.11% YoY and 7.78% QoQ in 4Q13 to Ps.62,953 million

MEXICO CITY, Feb. 21, 2014 /PRNewswire/ -- Grupo Financiero Interacciones, S.A. de C.V., (BMV: GFINTERO), ("Grupo Financiero Interacciones" or "GFI"), the largest specialized Mexican financial group with a business model focused on providing financing, risk management and financial advisory services mainly to the Mexican public sector, today announced results for the three- and twelve-month periods ended December 31, 2013. In 4Q13, Grupo Financiero Interacciones reported net income of Ps.444 million, representing an increase of 90.56% YoY and a 0.89% decline QoQ. During 2013, Grupo Financiero Interacciones reported net income of Ps.1,638 million, representing an 16.50% increase from 2012.

Mr. Carlos Hank Gonzalez, Chief Executive Officer of Grupo Financiero Interacciones, noted, "We are very pleased with our fourth quarter performance. We reported net income of Ps.444 million, closing out yet another solid year of growth for Grupo Financiero Interacciones achieving net income of Ps.1,638 million in 2013. Return on equity for the quarter was 18.46% and reflects our recent capital increase, which will allow us to continue implementing our growth strategy over the next two years."

"Furthermore, we expanded our loan portfolio by 13.11% YoY this quarter, despite selling a portion of a loan portfolio with one of our state clients for a total of Ps.2,623 million. This sale reflects our commitment to maintaining adequate loan diversification in line with our internal policy, which is stricter than Mexican Financial Regulations. Excluding this transaction, the loan portfolio would have increased 17.82% YoY and 12.27% QoQ, reflecting acceleration in the growth of the loan portfolio of our three business lines: Government, Infrastructure, and SME banking during the quarter."

"Continuing with our commitment to corporate governance, we are pleased to report that we have added two highly-qualified independent directors to our Board this quarter, Mr. Jose Julian Sidaoui Dib and Mr. Andres Antonius Gonzalez, thus achieving our goal of having a Board with 50% representation of independent members."

"Looking ahead, we see very good growth prospects in all of our market segments - Government, Infrastructure and SME banking -  driven by an expected stronger economy in Mexico this year, as well as higher infrastructure investments. Our optimistic view is further supported in the medium-term by the positive effects expected from the recently approved structural reforms, particularly in the energy field," concluded Mr. Hank Gonzalez.

 

Grupo Financiero Interacciones







Main Indicators

4Q13

3Q13

4Q12

Var.vs 


 12M13 

 12M12 

Var.vs


3Q13

4Q12


12M12

Income Statement*










Financial Margin

564

521

613

8.25%

-7.99%


2,249

1,953

15.16%

Provisions for Loan Losses

-446

174

-357

-356.32%

24.93%


-975

-773

26.13%

Commissions Charged

1,318

1,605

1,822

-17.88%

-27.66%


5,450

4,075

33.74%

Commissions Paid

-813

-1,431

-816

-43.19%

-0.37%


-3,244

-1,878

72.74%

Other Non-Interest Income

2,134

2,006

1,691

6.38%

26.20%


6,947

5,149

34.92%

Total Income

4,300

4,205

3,894

2.26%

10.43%


15,524

13,180

17.78%

Administrative and Promotional Expenses

-729

-690

-640

5.65%

13.91%


-2,700

-2,444

10.47%

Operating Income

710

580

491

22.41%

44.60%


2,277

2,007

13.45%

Net Income

444

448

233

-0.89%

90.56%


1,638

1,406

16.50%

Balance Sheet*










Total Assets

173,780

149,467

140,173

16.27%

23.98%


173,780

140,173

23.98%

Investment in Securities

94,886

74,975

72,348

26.56%

31.15%


94,886

72,348

31.15%

Loan Portfolio

62,953

58,409

55,657

7.78%

13.11%


62,953

55,657

13.11%

Loan Portfolio - Net

61,055

56,591

53,642

7.89%

13.82%


61,055

53,642

13.82%

Total Liabilities

163,270

140,736

132,247

16.01%

23.46%


163,270

132,247

23.46%

Total Deposits

37,984

48,765

37,391

-22.11%

1.59%


37,984

37,391

1.59%

Shareholders' Equity

10,511

8,731

7,926

20.39%

32.61%


10,511

7,926

32.61%

Main Indicators










MIN 

1.47%

1.45%

1.88%

2bp

-42bp


1.50%

1.60%

-9bp

Risk Adjusted NIM

0.31%

1.93%

0.79%

-163bp

-48bp


0.85%

0.96%

-11bp

ROE

18.46%

21.07%

11.83%

-261bp

663bp


17.77%

18.84%

-107bp

ROA

1.10%

1.19%

0.69%

-9bp

41bp


1.04%

1.10%

-5bp

Efficiency Ratio

45.35%

47.00%

46.78%

-165bp

-144bp


45.36%

46.78%

-142bp

Operating Efficiency Ratio

1.80%

1.83%

1.89%

-3bp

-9bp


1.72%

1.90%

-18bp

NPL Ratio

0.22%

0.24%

0.66%

-3bp

-44bp


0.22%

0.66%

-44bp

Coverage Ratio

1394.85%

1280.28%

550.55%

11,457bp

84,431bp


1394.85%

550.55%

84,431bp

* Millions of pesos










To obtain the full text of this earnings release, please visit our Investor Relations website at www.investorsinteracciones.com under the Financial Information / Quarterly Financial Results section.

 

4Q13 EARNINGS CONFERENCE CALL





Date:                  

Friday, February 21, 2014



Time:                    

9:00 am CT (Mexico); 10:00 am ET



To join, please dial:




U.S / Canada:         

+1-888-510-1785

Mexico:                  

001-800-514-1067

Internacional:            

+1-719-325-2454

Access Code:            

3398969



Simultaneous webcast:    

http://public.viavid.com/index.php?id=107733.



Replay:                         

A telephonic replay of the conference call will be available between 1:00 pm ET on February 21, 2014 and 11:59 pm ET on February 28, 2014. The replay can be accessed by dialing +1-877-870-5176 or for international callers +1-858-384-5517. The passcode for the replay is 3398969.

About Grupo Financiero Interacciones
Grupo Financiero Interacciones, S.A. de C.V. ("Grupo Interacciones" or "GFI"), is the largest specialized Mexican financial group with a business model focused on providing financing, risk management and financial advisory services mainly to the Mexican public sector, which includes federal, state and municipal governments, quasi-government entities and government suppliers. Grupo Financiero Interacciones conducts its business mainly through Banco Interacciones, its banking subsidiary, and through Interacciones Casa de Bolsa, its broker-dealer subsidiary, and Aseguradora Interacciones, its insurance company subsidiary. Grupo Financiero Interacciones is listed on the Bolsa Mexicana de Valores under the symbol "GFINTERO". For more information, please visit www.investorsinteracciones.com

This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. By their very nature, forward-looking statements and such information involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved or will differ from actual results. A number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed or implied in such forward-looking statements. Should one or more of these factors or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. Grupo Interacciones assumes no obligation to update or correct the information contained in this press release.

SOURCE Grupo Financiero Interacciones, S.A. 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
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists discussed...
Cloud-based disaster recovery is critical to any production environment and is a high priority for many enterprise organizations today. Nearly 40% of organizations have had to execute their BCDR plan due to a service disruption in the past two years. Zerto on IBM Cloud offer VMware and Microsoft customers simple, automated recovery of on-premise VMware and Microsoft workloads to IBM Cloud data centers.
Elon Musk is among the notable industry figures who worries about the power of AI to destroy rather than help society. Mark Zuckerberg, on the other hand, embraces all that is going on. AI is most powerful when deployed across the vast networks being built for Internets of Things in the manufacturing, transportation and logistics, retail, healthcare, government and other sectors. Is AI transforming IoT for the good or the bad? Do we need to worry about its potential destructive power? Or will we...
Many organizations adopt DevOps to reduce cycle times and deliver software faster; some take on DevOps to drive higher quality and better end-user experience; others look to DevOps for a clearer line-of-sight to customers to drive better business impacts. In truth, these three foundations go together. In this power panel at @DevOpsSummit 21st Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, industry experts will discuss how leading organizations build application success from all...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Daiya Industry specializes in orthotic support systems and assistive devices with pneumatic artificial muscles in order to contribute to an extended healthy life expectancy. For more information, please visit https://www.daiyak...
SYS-CON Events announced today that SIGMA Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. uLaser flow inspection device from the Japanese top share to Global Standard! Then, make the best use of data to flip to next page. For more information, visit http://www.sigma-k.co.jp/en/.
The last two years has seen discussions about cloud computing evolve from the public / private / hybrid split to the reality that most enterprises will be creating a complex, multi-cloud strategy. Companies are wary of committing all of their resources to a single cloud, and instead are choosing to spread the risk – and the benefits – of cloud computing across multiple providers and internal infrastructures, as they follow their business needs. Will this approach be successful? How large is the ...
Your clients expect transactions to never fail, cloud access to be fast and always on, and their data to be protected - no exceptions. Hear about how Secure Service Container (SSC), an IBM-exclusive open technology, enables secure building and hosting of next-generation applications, both cloud and on-premises. SSC protects the full stack from external and insider threats, allows automatic encryption of data in-flight and at-rest, and is tamper-resistant during installation and runtime – with no...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that B2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. B2Cloud specializes in IoT devices for preventive and predictive maintenance in any kind of equipment retrieving data like Energy consumption, working time, temperature, humidity, pressure, etc.