Banca Mifel, S. A., Institución de Banca Múltiple, Grupo Financiero Mifel Financial Statements At March 31, 2012.

Transcription

1 Banca Mifel, S. A., Institución de Banca Múltiple, Grupo Financiero Mifel Financial Statements At.

2 Balance sheets Assets 2012 Cash and due from banks Ps. 1,551 Margin accounts 0 Investments in securities Trading 7,794 Available for sale 43 Held to maturity 13,675 Derivatives financial instruments 0 Adjustment related to changes in the fair value of hedged item 174 Performing loans Commercial loans 12,311 Consumer loans 21 Mortgages loans 878 Total performing loans 13,210 Non-performing loans Commercial loans 409 Consumer loans 5 Mortgages loans 83 Total non-performing loans 497 Total loan portfolio 13,707 Less: Allowance for loan losses (342) Loan portfolio - Net 13,365 Other accounts receivable - Net 1,598 Foreclosed assets - Net 12 Property, furniture and equipment - Net 250 Equity Investments 3 Deferred taxes and employees statutory profit Sharing - Net 201 Other assets - Net Deferred charges, advance payments and intangibles 693 Other short and long-term assets 6 Total assets Ps.39,365 21,512 Liabilities and Stockholders Equity 2010 Liabilities Deposits: Demand deposits Ps. 2,900 Time deposits: General public 6,563 Money market 12,785 Bank bonds 63 Interbank loans and loans from other entities Short-term 2,982 Long-term 731 3,713 Creditors under agreements to repurchase 9,368 Derivatives financial instruments For trading 23 For hedging 202 Other accounts payable Tax on profits payable 0 Creditors for liquidation operations 198 Employees statutory profit sharing payable 0 Sundry creditors and other accounts payable 246 Outstanding subordinated debentures 1,308 Deferred credits, net 62 Total liabilities 37,431 Stockholders equity Stockholders equity: Capital stock 1,171 Increases for future capital contributions formalized at a meeting of shareholders 510 1,681 Earned Capital: Capital reserves 116 Retained Earnings 108 Net unrealized gain on valuation of available for sale securities 6 Result from valuation of cash-flow hedges (13 ) Net income 36 Total stockholders equity 1,934 Total liabilities and stockholders equity Ps. 39,365 22, Page 1

3 Statements of income, except for per share data 2012 Interest income Ps. 608 Interest expense (381) Financial margin 227 Provision for loan losses (0) Financial margin after provision for loan losses 227 Commissions and fees received 32 Commissions and fees paid (13) Net gain or (loss) in Brokerage operations (9) Other operating income Net 30 Administrative and promotional expenses (243) Income before income taxes 24 Current income tax expense 0 Deferred income tax benefit (12) Total income tax expense (benefit) (12) Net income Ps. 36 Page 2

4 Statements of Changes in Stockholders Equity Paid-in capital Earned surplus Item Capital stock Contributions for future capital contributions arranged by its governing body Capital reserves Retained earnings Net unrealized gain (loss) from available for sale securities Result from valuation of cash flow hedges Net Income Total stock holders equity Balances at December 31,2011 1, (42) 7 (14) 167 1,388 CHANGES RELATED TO STOCKHOLDERS RESOLUTIONS: Subscription of shares Capital reserves 17 (17) 0 Transfer of net income to retained earnings 167 (167) 0 Total (167) 510 CHANGES RELATED TO RECOGNITION OF COMPREHENSIVE INCOME: Net income Gain or loss from valuation of available for sale securities (1) (1) Gain (loss) from valuation of derivative financial instruments 1 1 Total (1) Effect of the accounting accommodation Balances at 1, ( ,934 Page 3

5 Statements of Cash flow Net income Ps. 36 Adjustment from items not implying cash flows: Provision for loan losses (5) Other allowances on doubtful accounts 3 Depreciation and amortization 12 Provisions and reserves (2) Current and deferred income tax (4) Other (3) 2012 Changes in operating assets and liabilities 1 Decrease (increase) in margin accounts - Decrease (increase) in investments in securities (1,161) (Increase) decrease in repurchase-agreements (1,200) Decrease in derivative financial instruments - Decrease (increase) in loan portfolio 115 Increase in foreclosed assets (1) Increase in deposits 1,409 Increase (decrease) in loans from other entities 219 Increase (decrease) in creditors under agreements to repurchase (179) Increase (decrease) in collateral sold or given in guarantee 1,200 Increase in derivative financial instruments 39 Other (1,932) Net cash flows provided by (used in) operating activities (1,511) Investment activities Disposal of property, furniture and equipment 510 Acquisition of property, furniture and equipment (6) Acquisition of other permanent investments 1 Net cash flows used in investment activities 505 Financing activities Issuance of shares Payments related to subordinated debentures (143) Net cash flows provided by financing activities (143) Net increase or decrease in cash (1,112) Cash and dues from banks at beginning of period 2,663 Cash and dues from banks at end of period Ps. 1,551