MEXICO CITY, Oct. 28, 2013 /PRNewswire/ -- Grupo Financiero Interacciones, S.A. de C.V., (BMV: GFINTERO), ("Grupo Financiero Interacciones" or "GFI"), the largest specialized Mexican financial group with a business model focused on providing financing, risk management and financial advisory services mainly to the Mexican public sector, today announced results for the three and nine-month periods ended September 30, 2013. In 3Q13, Grupo Financiero Interacciones reported net income of Ps.448 million, representing YoY and QoQ increases of 51.4% and 5.2%, respectively.

Commenting on the results for the quarter, Mr. Carlos Hank Gonzalez, Chief Executive Officer of Grupo Financiero Interacciones, noted, "We are very enthusiastic about our operating achievements, which reinforce the strength of our business model.  This quarter we reported solid results, highlighted by a ROAE of 21.1% and a further reduction in non-performing loans to 0.24%."

Mr. Hank continued, "An important milestone for GFI subsequent to this quarter's end was our global share offering, which was more than two times oversubscribed. This offering accomplished several objectives and marks the beginning of a new era for GFI.  The proceeds will facilitate the expansion of our focused, low-risk business model. The offering will not only further strengthen our market presence, but also enhance the liquidity of our stock, while fostering greater transparency and institutionalization of the company."

"Our strong financial results position us among the leading players in the Mexican financial system, and the funds obtained from the offering provide us the necessary resources to capitalize on the enormous potential we see in our business segments – government, infrastructure and SME lending – which should further benefit from the anticipated favorable structural reforms in Mexico," concluded Mr. Hank.

 

 

To obtain the full text of this earnings release, please visit our Investor Relations website at http://www.investorsinteracciones.com/quarterly-financial-results.php

3Q13 EARNINGS CONFERENCE CALL

Date: Tuesday, October 29, 2013Time: 11:30 am CT (Mexico); 1:30 pm ET

To join, please dial:    U.S. / Canada:  +1-888-329-8862Mexico:   001-800-514-1067International:   +1-719-325-2452Access Code:  9308835

Simultaneous Webcast: http://public.viavid.com/index.php?id=106626

Replay: A telephonic replay of the conference call will be available between 4:30 pm ET on October 29, 2013 and 11:59 pm ET on November 5, 2013. The replay can be accessed by dialing +1-877-870-5176 or for international callers +1-858-384-5517. The passcode for the replay is 9308835. The audio of the conference call will also be archived on GFI's IR website at www.investorsinteracciones.com.

About Grupo Financiero Interacciones    Grupo Financiero Interacciones, S.A. de C.V. ("Grupo Financiero Interacciones" or "GFI") is the largest specialized Mexican financial group with a business model focused on providing financing, risk management and financial advisory services mainly to the Mexican public sector, which includes federal, state and municipal governments, quasi-government entities and government suppliers. Grupo Financiero Interacciones conducts its business mainly through Banco Interacciones, its banking subsidiary, and through Interacciones Casa de Bolsa, its broker-dealer subsidiary, and Aseguradora Interacciones, its insurance company subsidiary. Grupo Financiero Interacciones is listed on the Bolsa Mexicana de Valores under the symbol "GFINTERO". For more information, please visit www.investorsinteracciones.com.  

This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. By their very nature, forward-looking statements and such information involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved or will differ from actual results. A number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed or implied in such forward-looking statements. Should one or more of these factors or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. Grupo Interacciones assumes no obligation to update or correct the information contained in this press release.

SOURCE Grupo Financiero Interacciones, S.A. de C.V.

RELATED LINKShttp://www.investorsinteracciones.com