Gentera Announces Earnings Results for the Third Quarter of 2018; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2018
October 26, 2018 at 10:00 am EDT
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Gentera announced earnings results for the third quarter of 2018. For the quarter, interest income stood at MXN 5.28 billion, representing a slight 0.2 contraction compared to third quarter of 2017. Net interest income showed a slight 1.7% contraction compared to third quarter of 2017. Net income was MXN 735 million represented a 15% growth compared to the recurrent net income, which, in the previous quarter, of MXN 65 million.
For the quarter, the company expects that the fourth quarter of 2018, the growth momentum remains to finalize the year in a better position than the previous year.
For the year, the company originally guided net income between MXN 2,450,000,000 and MXN 2,650,000,000. Now, The company expects to end between MXN 2,650,000,000 and MXN 2,800,000,000, not considering nonrecurring income. This implies an EPS between MXN 1.65 and MXN 1.75.
Gentera SAB de CV (Gentera), formerly Compartamos SAB de CV, is a Mexico-based financial institution specialized in banking and credit services. Genteraâs main activities are: granting loans and credits to communal banks, community groups, low-income individuals; offering saving accounts, insurance policies, administration and human resources services, making payments of family remittance and granting operation with securities and other financial instruments. The Company operates in Mexico, the United States, Guatemala and Peru, through such subsidiaries as: Compartamos Banco, a micro-financing bank; Yastas, a network of affiliated merchants that provide payments and financial transactions, Pagos Intermex SA de CV, the payment of family remittances company and Aterna, an intermediary between the distribution channels and the insurance industry.
GENTERA, S.A.B. DE C.V. 
