Gentera, S.A. B. de C. V. Reports Earnings Results for the Second Quarter and Six Months of 2018
July 24, 2018 at 10:00 am EDT
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Gentera, S.A. B. de C. V. reported earnings results for the second quarter and six months of 2018. For the quarter, the company reported income stood at MXN 5.1 billion, representing a 1.7% contraction compared to the same period of 2017. This result was mainly driven by the contraction experienced in the loan portfolio in the Mexican subsidiary. The company reported net income of MXN 821 million, which represents a 3.3% growth compared to the MXN 795 million reached in second quarter 2017 and a 13.1% growth compared to the MXN 726 million reached in the previous quarter. In terms of profitability, return on average equity and return on average assets stood at 19.2% and 7.2%, respectively, for second quarter 2018.
For the six months period, return on equity and ROA -- and return on assets stood at 18.2% and 6.9%, respectively.
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. 
