Credito Real S.A.B. de C.V. SOFOM E.R. Announces Proforma Earnings Results for the Second Quarter and Year to Date of 2016
July 27, 2016 at 08:58 pm EDT
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Credito Real, S.A.B. de C.V. SOFOM, E.N.R. announced proforma earnings results for the second quarter and year to date of 2016. For the quarter, the company reported interest income of MXN 1,654.7 million against MXN 976.2 million a year ago. Operating result was MXN 537.6 million against MXN 408.4 million a year ago. Net Income was MXN 374.9 million against MXN 333.1 million a year ago. Return on average stockholders' equity was 19.1% against 22.9% a year ago. ROAA was 4.7% against 6.3% a year ago.
For the year to date, the company reported interest income of MXN 2,994.0 million against MXN 1,919.2 million a year ago. Operating result was MXN 1,093.6 million against MXN 801.5 million a year ago. Net Income was MXN 781.1 million against MXN 659.8 million a year ago. Return on average stockholders' equity was 20.9% against 23.3% a year ago. ROAA was 5.2% against 6.4% a year ago.
Credito Real SAB de CV SOFOM ENR, formerly known as Credito Real SAB de CV Sofom ER, is a Mexico-based company that provides consumer financing. The Company provides loans, either by providing direct financing to consumers or by establishing financing programs with consumer financing dealers that sell to Credito Real the collection rights from consumer financing products. Additionally, It provides financing directly to individuals that are employed by corporations with payroll deduction agreements with consumer financing dealers authorized by Credito Real. It operates through a number of subsidiaries, including AFS Acceptance LLC.
CRÉDITO REAL, S.A.B. DE C.V., SOCIEDAD FINANCIERA DE OBJETO MÚLTIPLE, ENTIDAD NO REGULADA 
