Banco Macro Announces Results For the Third Quarter of 2008
04 November 2008 - 10:06AM
PR Newswire (US)
BUENOS AIRES, Argentina, Nov. 3 /PRNewswire-FirstCall/ -- Banco
Macro S.A. (NYSE: BMA; Buenos Aires: BMA) ("Banco Macro" or "BMA"
or the "Bank") announced today its results for the third quarter
period ended September 30, 2008 ("3Q08"). All figures are in
Argentine pesos (Ps.) and have been prepared in accordance with
Argentine GAAP. SUMMARY -- The Bank's net income totalled Ps.163.2
million. This result was 85%, or Ps.75.2 million higher than 3Q07's
Ps.88.0 million, and 1%, or Ps.2.2 million above 2Q08. The
annualized 3Q08 ROAE and ROAA were 24.2% and 2.9%, respectively. --
The Bank's net financial income was Ps.367.4 million, increasing
58% year to year ("YoY"). Banco Macro's operating income of
Ps.233.8 million jumped 148% YoY compared to the Ps.94.3 million
posted in 3Q07. -- Banco Macro's financing to the private sector
grew 26% YoY, or Ps.2,427 million. Personal loans, which represent
a strategic product for the Bank, once again led annual private
loan portfolio growth while documents were the leading products for
3Q08. -- Total deposits grew 13%, or Ps.1,878.3 million quarter on
quarter ("QoQ"), totalling Ps.16.8 billion and representing 80% of
the Bank's liabilities. Quarterly deposit growth was led by private
sector deposits (11% or Ps. 1.4 billion) followed by public sector
deposits (21% or Ps. 0.5 billion). -- Banco Macro continued showing
a strong solvency ratio, with an excess capital of Ps.1.6 billion
(22.1% capitalization ratio). In addition, the Bank's liquid assets
remained at a high level, reaching 53.7% of total deposits. -- The
Bank's non-performing lending to total lending ratio remained at
2.0% and the coverage ratio was 104.6%. -- In 3Q08, the Bank
repurchased 32.4 million shares, according to the Share Buy Back
Program launched in January 8, 2008. In addition, the Bank
repurchased nominal value US$ 10.85 million of Class 2 Notes. 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 November 4, 2008 at 1:00 p.m. Buenos Aires time
(10:00 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, (Finance and Investor Relations Manager). Dial in
information: (866) 550-6338 (Within the U.S.) (347) 284-6930
(Outside the U.S.) Conference ID: 6124572 INVESTOR RELATIONS
CONTACTS: In Buenos Aires: Jorge Scarinci, CFA Finance and Investor
Relations Manager Tel: +5411-5222-6730 E-mail: visit our website
at: http://www.macro.com.ar/ DATASOURCE: Banco Macro S.A. CONTACT:
In Buenos Aires: Jorge Scarinci, Finance and Investor Relations
Manager, Banco Macro, +011-5411-5222-6730, Web site:
http://www.macro.com.ar/
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