Compartamos Profit Beats Estimates as Loan Portfolio Expands

Compartamos SAB (COMPARC*), the operator of microfinance companies in Mexico and Peru, posted first-quarter profit that beat analyst expectations.

Net income climbed 14.3 percent to 497 million pesos ($37.8 million) in the first three months of the year, the Mexico City- based company said today in an e-mailed statement. Banco Santander SA had projected profit would total 475.2 million pesos, according to an April 24 research note.

Outstanding loans rose 40 percent to 14.9 billion pesos, the company said.

Compartamos shares fell 2.1 percent to 15.35 pesos in Mexico City trading before release of the report.

To contact the reporter on this story: Jonathan J. Levin at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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