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Banco Solidario S.A
Main Activities: Banking and Credit Intermediation
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Company Information |
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Full name Banco Solidario S.A Headquarters Avenida Amazonas 3887 y Corea ; Quito; Pichincha |
Status: Listed Legal Form: Public Limited Company Operational Status: Operational Fiscal ID (RUC): 1791109384001 Fiscal ID (ISIN CODE ): ECP150711060 Financial Auditors: KPMG (2009) Tel: +593-2-2268534/2260260 |
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Company Description |
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Banco Solidario S.A was founded in 1996 as a financial services provider, focused on the micro segments. The company has coverage in the main cities of Ecuador through its products: microcredit, savings, insurance and a special one called "Olla de Oro" (a credit guaranteed with gold jewelleries). |
Company Analysis |
| According to the Consolidated - Audited financial statement for the first eight cumulated months of 2012, total net operating revenues decreased with -2.84%, from USD 57,721.99 thousands to USD 56,085.38 thousands. Operating result increased from USD 31,857.35 thousands to USD 33,956.05 thousands which means 6.59% change. The results of the period increased 67.98% reaching USD 6,399.97 thousands at the end of the period against USD 3,810.03 thousands last year. Return on equity (Net income/Total equity) went from 9.34% to 14.34%, the Return On Asset (Net income / Total Asset) went from 1.16% to 1.69% and the Net Profit Margin (Net Income/Net Sales) went from 6.60% to 11.41% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 735.15% compared to 693.84% of last year. |
Key Executives |
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FULL COMPANY PROFILE
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| SELECT CURRENCY |
| Figures in: USD | EUR |
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2013 M02C (non-cons) |
2013 M01 (non-cons) |
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| Audited | Audited | |
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| Superintendencia de Bancos y Seguros - bancos | Superintendencia de Bancos y Seguros - bancos | |
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| Unit | Thousands | Thousands |
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Balance Sheet
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Total Assets |
394,238 |
401,423 |
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Total Liabilities |
335,602 |
343,200 |
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Shareholders Equity |
57,473 |
57,502 |
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| * All the accounts are in USD. | ||
Income Statement
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Total Operating Revenue |
14,040 |
7,751 |
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Operational Profit (Loss) |
8,749 |
4,589 |
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Net Profit (Loss) |
1,162 |
720 |
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| * All the accounts are in USD. | ||
Ratios
| Profitability Ratios | ||
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Return on Assets (ROA) |
0.29% |
0.18% |
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Annualised Return on Assets (ROA) |
1.74% |
2.16% |
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Return on Equity (ROE) |
2.02% |
1.25% |
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Annualised Return on Equity (ROE) |
12.12% |
15% |
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Return on Sales (ROS) |
92.57% |
129.68% |
| Valuation figures and ratios | ||
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EBITDA |
10,513 |
5,972 |
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Enterprise value |
345,751 |
348,671 |
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Enterprise Value / EBITDA |
32.89 |
58.38 |
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Bookvalue (BV) |
58,635 |
58,222 |
| Leverage Ratios | ||
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Leverage ratio |
685.95% |
698.1% |
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Debt to equity |
583.93% |
596.85% |
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Debt to total assets |
84.98% |
85.37% |
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Debt / Enterprise Value |
97.06% |
98.43% |
| Market ratios | ||
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Market Capitalization/EBITDA |
3.74 |
6.58 |
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