Credito Real S.A.B. de C.V. SOFOM E.R. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year of 2016
February 21, 2017
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Credito Real S.A.B. de C.V. SOFOM E.R. reported consolidated earnings results for the fourth quarter and full year of 2016. For the quarter, the company reported interest income of MXN 1,839.2 million against MXN 1,245.3 million a year ago. Operating result was MXN 326.3 million against MXN 474.1 million a year ago. Income before participation in the results of subsidiaries was MXN 314.0 million against MXN 351.4 million a year ago. Net income was MXN 345.3 million against MXN 371.9 million a year ago. Earnings per share were MXN 0.9 against MXN 0.9 a year ago. ROAA was 3.8% against 6.0% a year ago. ROAE was 15.1% against 22.8% a year ago.
For the full year, the company reported interest income of MXN 6,958.2 million against MXN 4,264.2 million a year ago. Operating result was MXN 2,187.5 million against MXN 1,722.3 million a year ago. Income before participation in the results of subsidiaries was MXN 1,683.1 million against MXN 1,300.7 million a year ago. Net income was MXN 1,714.0 million against MXN 1,371.4 million a year ago. Earnings per share were MXN 4.4 against MXN 3.5 a year ago. ROAA was 5.0% against 6.0% a year ago. ROAE was 20.2% against 22.2% 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.