ROE

Ocwen Financial Announces Full Year and Fourth Quarter 2023 Results

Retrieved on: 
Tuesday, February 27, 2024

Glen A. Messina, Chair, President and CEO of Ocwen, said, “In the fourth quarter we delivered another sequential quarter increase in adjusted pre-tax income, driven by our servicing segment, culminating in strong full year 2023 results in terms of both adjusted pre-tax income and adjusted ROE.

Key Points: 
  • Glen A. Messina, Chair, President and CEO of Ocwen, said, “In the fourth quarter we delivered another sequential quarter increase in adjusted pre-tax income, driven by our servicing segment, culminating in strong full year 2023 results in terms of both adjusted pre-tax income and adjusted ROE.
  • Our industry-leading servicing cost and operating performance, combined with our special servicing capabilities, positioned us to execute on opportunistic asset management transactions that were accretive to earnings.
  • A live audio webcast and slide presentation for the call will be available by visiting the Shareholder Relations page at www.ocwen.com .
  • Participants can access the conference call by dialing (888) 886-7786 or (416) 764-8658 approximately 10 minutes prior to the call.

Hovnanian Enterprises Reports Fiscal 2024 First Quarter Results

Retrieved on: 
Thursday, February 22, 2024

MATAWAN, N.J., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal first quarter ended January 31, 2024.

Key Points: 
  • MATAWAN, N.J., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal first quarter ended January 31, 2024.
  • Total interest expense as a percent of total revenues was 5.1% for the first quarter of fiscal 2024 compared with 5.8% for the first quarter of fiscal 2023.
  • Income before income taxes for the first quarter of fiscal 2024 increased 80.4% to $32.6 million compared with $18.0 million in the first quarter of the prior fiscal year.
  • Consolidated contracts per community increased 47.7% year-over-year to 9.6 in the first quarter of fiscal 2024 compared with 6.5 contracts per community for the first quarter of fiscal 2023.

Grupo Supervielle Reports 4Q23 Results

Retrieved on: 
Wednesday, March 6, 2024

Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV), (“Supervielle” or the “Company”) a universal financial services group headquartered in Argentina with a nationwide presence, today reported results for the three and twelve-months period ended December 31, 2023.

Key Points: 
  • Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV), (“Supervielle” or the “Company”) a universal financial services group headquartered in Argentina with a nationwide presence, today reported results for the three and twelve-months period ended December 31, 2023.
  • Starting 1Q20, the Company began reporting results applying Hyperinflation Accounting, in accordance with IFRS rule IAS 29 (“IAS 29”) as established by the Central Bank.
  • Commenting on fourth quarter 2023 results, Patricio Supervielle, Grupo Supervielle’s Chairman & CEO, noted: “We closed the year with a strong quarter delivering record high ROAE of 27% in real terms, even as we navigate a complex macro and political environment characterized by high inflation, market volatility, and weak loan demand.
  • The total NPL ratio was 1.2% in 4Q23 improving 230 and 50 bps from 3.5% in 4Q22 and 1.7% in 3Q23, respectively.

Nu Holdings Ltd. Reports Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 22, 2024

Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Fourth Quarter and Full Year 2023 financial results.

Key Points: 
  • Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Fourth Quarter and Full Year 2023 financial results.
  • Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS).
  • In Brazil, the customer base reached 87.8 million by December 31, 2023, representing 53% of the country’s adult population.
  • Nu is the fourth-largest financial institution by number of customers in the country, according to Brazilian Central Bank data.

GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V. FOURTH QUARTER 2023 RESULTS

Retrieved on: 
Tuesday, February 20, 2024

de C.V. reports its 2023 fourth quarter results.

Key Points: 
  • de C.V. reports its 2023 fourth quarter results.
  • All figures are shown in nominal terms and reported under International Financial Reporting Standards (IFRS).
  • Growth of 8.7% in Same-Store Sales (SSS) in Mexico, exceeding the 6% recorded by ANTAD.
  • The above is equivalent to a total of $2,147 million pesos or 28.1% of majority income in 2023.

CUB STATEMENT ON ILLINOIS AMERICAN'S $152 MILLION RATE-HIKE REQUEST

Retrieved on: 
Friday, February 9, 2024

Illinois American's $152 million rate-hike request is severe and greedy—the company is pushing for an excessive profit rate for its shareholders—and CUB will do everything it can to reduce it.

Key Points: 
  • Illinois American's $152 million rate-hike request is severe and greedy—the company is pushing for an excessive profit rate for its shareholders—and CUB will do everything it can to reduce it.
  • On Feb. 8, 2024, Illinois American Water filed a request to increase rates by $152.4 million, or about 39.5 percent, with the Illinois Commerce Commission (ICC).
  • Since 2016, Illinois American has successfully pushed for two other rate hikes before the ICC: an $85 million increase in 2022, and a $35 million increase in 2016.
  • Illinois American Water, a subsidiary of American Water, is the largest investor-owned water utility in Illinois.

Trisura Group Reports Fourth Quarter And 2023 Annual Results

Retrieved on: 
Thursday, February 8, 2024

TORONTO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Trisura Group Ltd. (“Trisura” or “Trisura Group”) (TSX: TSU), a leading specialty insurance provider, today announced financial results for the fourth quarter and year ended December 31, 2023.

Key Points: 
  • TORONTO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Trisura Group Ltd. (“Trisura” or “Trisura Group”) (TSX: TSU), a leading specialty insurance provider, today announced financial results for the fourth quarter and year ended December 31, 2023.
  • David Clare, President and CEO of Trisura, stated, “Trisura ended the year with strong operational performance.
  • Operating net income of $25.9 million in the quarter, or $0.54 per share, was achieved through measured growth, profitable underwriting and enhanced investment income – supporting annual operating net income of over $110 million.
  • We have further rationalized our US program portfolio, which impacted fourth quarter results, though sets a firm foundation for profitability ahead.

AM Best Affirms Credit Ratings of The Bahrain National Insurance Company BSC (c)

Retrieved on: 
Thursday, February 8, 2024

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of The Bahrain National Insurance Company BSC (c) (BNI) (Bahrain).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of The Bahrain National Insurance Company BSC (c) (BNI) (Bahrain).
  • AM Best expects BNI’s risk-adjusted capitalisation to remain at the strongest level over the medium term, supported by internal capital generation despite relatively high dividend distributions to its parent, Bahrain National Holding Company BSC.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

Inter&Co Inc. Reports Record Profits, with R$352 Million in Net Income in 2023

Retrieved on: 
Wednesday, February 7, 2024

We surpassed 30 million clients, achieved an Efficiency Ratio of 51%, and reached ROE of 8.5%, putting us significantly ahead of schedule on all fronts.

Key Points: 
  • We surpassed 30 million clients, achieved an Efficiency Ratio of 51%, and reached ROE of 8.5%, putting us significantly ahead of schedule on all fronts.
  • Record Net Income of R$160 million and earnings before tax of R$208 million, which represents a R$640 run rate net income.
  • More than 30 million clients with a 54% activation rate, or 16.4 million active clients.
  • The new vertical, Loyalty, reached over 5.4 million customers, with more than 1.5 million new clients in 4Q23.

SeABank completes 2023 business plan: noticeable CASA growth, controlled NPL

Retrieved on: 
Wednesday, February 7, 2024

HANOI, Vietnam, Feb. 7, 2024 /PRNewswire/ -- Considering the global and domestic unstable economic context, these results imply SeABank's flexible business transformation focusing on digital technology, green credit development and launching new fee-charging products.

Key Points: 
  • Southeast Asia Commercial Joint Stock Bank ( SeABank , stock code: SSB) announced its 2023 business results with considerable growth: CASA increased to 11.5%; Net increase in outstanding debt and mobilization respectively up 16.76% and 25.35% YoY; NPL is controlled at 1.94%; EBT reached more than US$189.4 million.
  • Ending 2023, SeABank's total assets reached US$10.9 billion, growing 15% YoY; Charter capital increased to US$1 billion, up 22.32% YoY.
  • In 2023, the total amount of reduced interest for existing customers has reached up to US$16.7 million.
  • These efforts have resulted in the EBT of more than US$189.4 million, completing the 2023 business plan, equivalent to ROE of 13.03%.