MEXICO CITY--()--Compartamos, S.A.B. de C.V. (“Grupo Compartamos” or “the Company”) (BMV: COMPARC*) announced the Company’s 2013 guidance.
“At Grupo Compartamos, we are committed to eradicating financial exclusion, and in doing so we drive the generation of three different sets of values: social, economic and human. In the coming years, the Company will do its best to fulfill this goal.”
In 2013, the Company expects strong credit demand, with asset quality under control, which is within the ranges seen during 2012. As a result, for the 2013 year-end, the Company expects loan portfolio growth of 18% - 21%; in addition, EPS will be in the range of Ps. 1.30 – Ps. 1.35.
As previously discussed, Grupo Compartamos continues to be in the midst of an investment phase. In 2013, the Company expects to see the effects of these investments on its quarterly results. Strategic projects such as the savings product and Yastás (Grupo Compartamos’ correspondent manager) will represent the majority of these investments.
Mr. Carlos Labarthe, Grupo Compartamos’ Chief Executive Officer stated, “At Grupo Compartamos, we are committed to eradicating financial exclusion, and in doing so we drive the generation of three different sets of values: social, economic and human. In the coming years, the Company will do its best to fulfill this goal.
Grupo Compartamos is very excited about the current dynamics within the microfinance industry. The Company now sees more people with access to financial products and services and expects many more in the years to come. Within the next five years, Grupo Compartamos seeks to further penetrate the markets where it currently operates, reaching further growth of at least 15 to 20% per annum in its portfolio, thereby generating social value.
The future is promising for Grupo Compartamos and for the microfinance industry as a whole. The Company remains very excited to continue the hard work necessary to achieve its goals.”
Compartamos is a holding company whose objective is to promote, organize and manage all types of companies, national and international, subject to its investment policies. Compartamos was established in Mexico City in 2010. Compartamos shares began trading on the Mexican Stock Exchange on December 24, 2010 under the ticker symbol “COMPARC*”.
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Bank performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Bank, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
For additional information visit: www.compartamos.com