Banco Macro Announces Results for the First Quarter of 2008
09 May 2008 - 7:32AM
PR Newswire (US)
BUENOS AIRES, Argentina, May 8 /PRNewswire-FirstCall/ -- Banco
Macro S.A. (NYSE: BMA; Buenos Aires: BMA) ("Banco Macro" or "BMA")
announced today its results for the first quarter period ended
March 31, 2008 ("1Q08"). All figures are in Argentine pesos (Ps.)
and have been prepared in accordance with Argentine GAAP. SUMMARY -
The Bank's net income totalled Ps.151.6 million. This result was
23%, or Ps.28.4 million higher than 1Q07's Ps.123.2 million. The
annualized 1Q08 ROAE and ROAA were 22.0% and 3.0%, respectively. -
The Bank's net financial income was Ps.354.9 million, increasing
37% year to year ("YoY"). Operating income of Ps.177.7 million rose
27% YoY. - Banco Macro's financing to the private sector showed an
attractive growth of 52% YoY, or Ps.3.3 billion and 4% QoQ, or
Ps.342 million. Personal loans, which represent a strategic product
for the Bank, once again led private loan portfolio growth. This
product grew 10% QoQ and 100% YoY. - Total deposits grew 7%, or
Ps.961.4 million QoQ, totalling Ps.14.5 billion and representing
78% of the Bank's liabilities. Quarterly deposit growth was led by
private sector CDs (13%). - Banco Macro continued showing a strong
solvency ratio, with an excess capital of Ps.1.83 billion (27.3%
capitalization ratio). In addition, the Bank's liquid assets
remained at a high level, reaching 55.2% of total deposits. - The
Bank's non-performing loans to total loans ratio was 1.99% and the
coverage ratio reached 128.3%. A longer version of this press
release with detailed information is available on our web site:
http://www.macro.com.ar/ QUARTERLY CONFERENCE CALL A conference
call to discuss this press release will be held on May 9, 2008 at
12:00 p.m. Buenos Aires time (11:00 a.m., New York time), with the
presence of Jorge Pablo Brito (Member of the Executive Committee),
Guillermo Stanley (Board Member), Guillermo Goldberg (Deputy
General Manager), and Jorge Scarinci (Financial and Investor
Relations Manager). Dial in information: (877) 718-5092 (Within the
U.S.) (719) 325-4803 (Outside the U.S.) Conference ID: 2971848
INVESTOR RELATIONS CONTACTS: In Buenos Aires: Jorge Scarinci, CFA
Head of Investor Relations and Finance Manager Tel: +5411-5222-6730
E-mail: Visit the Bank's website at http://www.macro.com.ar/
DATASOURCE: Banco Macro S.A. CONTACT: In Buenos Aires, Jorge
Scarinci, CFA, Head of Investor Relations and Finance Manager,
Banco Macro, +011-5411-5222-6730, Web site:
http://www.macro.com.ar/
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