2023-09-06 16:43:53
Bancor presented its audited Financial Statements corresponding to the first half of this year.
The operating result of the Cordovan financial institution amounted to $19,721 millionbut was affected by an inflation adjustment of $17,460 million, compared to $11,085 million the previous year.
The net result after adjusting for inflation reached $467 millionabove the first half of 2022, which was $346 million (both expressed in constant currency).
In this way, the capital of Bancor doubled the regulatory requirement required by the Central Bank of the Argentine Republic (BCRA)reaching as of June 30, 2023 an amount of $84,616 million, while the total net worth, $91,902 million.
As of June 30, 2023, the accrual of Income Tax was $1,473 million, an amount that was absorbed by the tax inflation adjustment for fiscal year 2023 and prior, therefore, it did not give current tax payable.
The incidence of bad debt charges during this period was $6,991 million, in line with the $6,526 million of the previous year.
The quality of the loan portfolio is maintained despite higher inflation and the drop in the level of economic activity.
Banking continued to grow in deposits and loans above the financial system as a whole and in line with inflation, managing to maintain the quality of its loan portfolio and improve its solvency.
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