Grupo Compartamos Reports 2Q13 Results

Grupo Compartamos Reports 2Q13 Results

MEXICO CITY--(BUSINESS WIRE)-- Compartamos, S.A.B. de C.V. ("Grupo Compartamos" or "the Company") (BMV: COMPARC*) announced today non-audited consolidated financial results for the second quarter ended June 30, 2013. All figures were prepared in accordance with requirements from the National Banking and Securities Commission (CNBV) and are expressed in nominal Mexican Pesos (Ps.).

2Q13 Highlights:

  • Total Loan Portfolio reached Ps. 20,435 million, a 32.3% increase compared to 2Q12, distributed in the following manner:

    • Banco Compartamos S.A. I.B.M. in Mexico (Banco Compartamos) reached Ps. 17,041 million, a 35.3% increase versus 2Q12;

    • Compartamos Financiera (formerly CREAR) in Peru reached Ps. 3,254 million, a 18.1% increase versus 2Q12; and

    • Compartamos S.A. (Guatemala) reached Ps. 140 million, 61.2% higher compared to 2Q12.

  • Active clients reached 2,759,803 an 8.5% increase compared with 2Q12.

  • Net Income for the second quarter was Ps. 491 million, an increase of 20.3% compared with 2Q12.

    • Net Income for Banco Compartamos was Ps. 579 million,36.9% higher than 2Q12

  • Non-performing loans (NPLs) during 2Q13 stood at 4.16%, from 3.64% in 1Q13.

  • ROAE for 2Q13 was 22.1%, compared to 21.1% during 2Q12.

  • ROAA in 2Q13 was 8.1%, compared to 8.7% in 2Q12.

  • Efficiency ratio for the quarter was 65.5%, a similar figure when compared to the 66.7% reported in 2Q12.

  • YASTAS, Grupo Compartamos' correspondent network manager, has affiliated over 3,200 small businesses at the end of the second quarter; representing 1,000 additional affiliated business compared to the previous quarter.

  • ATERNA, the Company's micro-insurancebroker currentlyserves 3.2 million customers with life insurance policies.

  • Nicole Reich Sapire was appointed member of the Board of Directors; Ms. Reich Sapire was Executive VP and CEO of Grupo Financiero ScotiabankMéxico and Scotiabank International, respectively, from 2007 to 2012.

  • As ofthe close of the second quarter, 3,792,683 shares were repurchased through the stock buyback program, at an average price of Ps 19.75 per share.

  • In April 2013, Grupo Compartamos ranked secondin theBest Place to Work in Mexico nominations by the Great Place to Work Institute. Additionally, Banco Compartamos was also recognized as one of the Top 10 Best Companies to Work Forfor the 7thconsecutive year.

  • Over 6,000 Grupo Compartamos' employees participated in volunteering activities and programs in various communities as well as the support of various foundations, during this quarter.

  • More than one million financial literacy articles were distributed during the second quarter to the clients, employees and communities served by the Company.

Comments from Mr. Carlos Labarthe, Grupo Compartamos' CEO:

The Company finalized the first half of the year, demonstrating a solid performance. During the second quarter, we delivered 32% growth in the total loan portfolio and solid net income up by 20% compared to the second quarter of 2012. The Group´s subsidiaries are developing in accordance to plan and we are enthusiastic to enter the second half of this year.

For the quarter Banco Compartamos generated outstanding net income growth of more than 36%. This was result of the benefits obtained from investments in strategic projects implemented by the Company, in order to better serve our customers.

Financiera CREAR in Peru was renamed as "Compartamos Financiera" in a strategic effort to invest in and build the "Compartamos" brand in the region. Now we can say that we not only aim to create a regionally recognized company, we are actually doing it under the Compartamos identity. It is also worthy of mentioning that Group Loan product generated strong demand, growing 183% in the number clients served during the past quarter.

In Guatemala, Compartamos S.A. currently has 28 service offices serving more than 58 thousand clients, 87.7% more than in the second quarter of 2012. The Guatemalan operation aims to accelerate the use of its existing infrastructure, as quickly and efficiently as possible, to meet demand. YASTAS, our correspondent network manager, affiliated over 1,000 new businesses in this quarter alone, an unprecedented figure. Likewise, we are also very encouraged with the evolution of our micro insurance broker ATERNA, which serves 3.2 million customers with active policies.

We would not have achieved these results without our team. As a company we strongly believe that we can make our dream come true of eradicating financial exclusion as long as we have the right people, which we are confident that we do. As such, we look forward to the challenges in the second half of the year and we are as committed as ever to serving our clients, employees and shareholders to the best of our ability generating social, human and economic value in their lives and communities.

For a full version of this release, please

About Grupo Compartamos

Grupo Compartamos (Ticker symbol: COMPARC*) is a holding company whose primary objective is to promote, organize and manage companies, both domestic and international, that are subject to its investment policies. Compartamos began in Mexico in 2010 and its shares began trading on the Mexican Stock Exchange on December 24, 2010.

For additional information visit:

Compartamos, S.A.B. de C.V.
Enrique Barrera Flores, +52 (55) 5276-7250
Investor Relations Officer
Beatriz Sánchez Covarrubias, +52 (55) 5276-7250
Investor Relations

KEYWORDS: United States Mexico North America Central America New York


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