Gentera, S.A. B. de C. V. Announces Earnings Results for the Full Year of 2017; Provides Return on Equity Guidance for the Full Year of 2018
February 27, 2018 at 10:00 am EST
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Gentera, S.A. B. de C. V. announced earnings results for the full year of 2017. In 2017, the company's interest income amounted to MXN 20,889 million, which is 4.4% higher than the interest income generated in 2016. Part of this increase was driven by Compartamos Banco repricing strategy. Net fee income increased 40% to amount MXN 999 million compared to MXN 711 million in 2016. At the end of 2017, the company reported net income of MXN 2,937 million, which represents a 13.9% contraction compared to the MXN 3,410 million reached in 2016. In terms of profitability, the return on average equity and return on average assets for the year stood at 17.7% and 7% respectively compared to 2016, when these results represented 22.8% ROE and 8.6% ROA.
The company provided return on equity guidance for the full year of 2018. For ROE, this year 2018, the company expects to have return on equity between 14% and 16% and obviously going forward, its objective is to bring it back to levels above 20% as explained in previous conference calls.
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. 
