Banco Macro Announces Results for the First Quarter of 2009
12 May 2009 - 8:24AM
PR Newswire (US)
BUENOS AIRES, Argentina, May 11 /PRNewswire-FirstCall/ -- Banco
Macro S.A. (NYSE: BMA; Buenos Aires: BMA) ("Banco Macro" or "BMA"
or the "Bank") announced today its results for the first quarter
period ended March 31, 2009 ("1Q09"). All figures are in Argentine
pesos (Ps.) and have been prepared in accordance with Argentine
GAAP. SUMMARY -- The Bank's net income totaled Ps.156.0 million.
This result was 3% higher than the Ps.151.6 million posted for the
first quarter of 2008 ("1Q08"). The annualized 1Q09 ROAE and ROAA
were 21.7% and 2.6%, respectively. -- The Bank's net financial
income was Ps.496.7 million, increasing 40% year to year ("YoY").
Banco Macro's operating income rose 74% YoY to Ps.309.5 million. --
Banco Macro's financing to the private sector grew 11% YoY, or
Ps.1.2 billion. Loans to SMEs and export-financing led the
expansion with a 28% YoY growth, while personal loans, which
represent a strategic product for the Bank, grew 8% YoY. -- Total
deposits grew 9%, or Ps.1.5 billion quarter to quarter (QoQ),
totaling Ps.17.3 billion and representing 79% of the Bank's
liabilities. The growth in QoQ deposits was led by private sector
CDs (21% increase). -- Banco Macro continued showing a strong
solvency ratio, with an excess capital of Ps.1.90 billion (24.6%
capitalization ratio). In addition, the Bank's liquid assets
remained at a high level, reaching 56.0% of its total deposits. --
The Bank's non-performing loans to total loans ratio was 3.06% and
the coverage ratio reached 121.16%. 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 12, 2009 at
1:00 p.m. Buenos Aires time (12:00 p.m. EDT), 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: (877) 719-9795 (Within the U.S.) (719) 325-4838
(Outside the U.S.) Conference ID: 4061819 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:
Jorge Scarinci, CFA, Finance and Investor Relations Manager, Banco
Macro S.A., +011-5411-5222-6730, Web site: http://www.macro.com.ar/
Copyright