Mexico: Compartamos Fourth Quarter Net Profit Flat As Expenses Rise

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Feb 2011
Mexico City, Mexico, February, 23 2011 - Mexican microfinance lender Banco Compartamos said its net profit was practically flat in the fourth quarter as the company increased hiring to support growth in its customer base and loan portfolio. Compartamos, which specializes in small loans to individuals and small businesses, reported Tuesday net profit of 515 million pesos ($41.6 million), or MXN1.20 per share, in the October-December period, compared with MXN516 million or MXN1.21 per share a year earlier.

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