Banco Macro Announces Results for the Fourth Quarter of 2009
12 February 2010 - 9:54AM
PR Newswire (US)
BUENOS AIRES, Argentina, Feb. 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 fourth quarter
ended December 31, 2009 ("4Q09"). All figures are in Argentine
pesos (Ps.) and have been prepared in accordance with Argentine
GAAP. SUMMARY -- The Bank's net income totalled Ps.241.8 million.
This result was 31% higher than the Ps.184.1 million posted for the
fourth quarter of 2008 ("4Q08") and 27% higher than the Ps.190.9
million earned in 3Q09. The annualized 4Q09 ROAE and ROAA were
30.2% and 3.8%, respectively. -- In 4Q09, the Bank's net financial
income was Ps.585.1 million, increasing 3% year to year ("YoY"). In
addition, Banco Macro's operating income rose 33% YoY to Ps.316.5
million from Ps. 237.8 million. -- Banco Macro's loans to private
sector grew 2% quarter to quarter ("QoQ"), or Ps.186.9 million,
with a recovery in consumer lending (credit card loans rose 12% and
consumer loans grew 4%) and a 6% increase in discounted documents.
-- Total deposits grew 17%, or Ps. 2,764.5 million YoY, totalling
Ps.18.6 billion and representing 79% of the Bank's total
liabilities. Total deposits remained stable QoQ with a 3% increase
in private sector deposits offset by a 11% decline in public sector
deposits. -- Banco Macro continued showing a strong solvency ratio,
with an excess capital of Ps.2.4 billion (27.4% capitalization
ratio) in 4Q09. In addition, the Bank's liquid assets remained at a
high level, reaching 60.6% of its total deposits at December 31,
2009. -- In 4Q09, the Bank's non-performing to total financing
ratio reached 3.2% and the coverage ratio was 116.1%. 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 February 12, 2010 at 12:00 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: (877) 419-6600 (Within the U.S.) (719) 325-4788
(Outside the U.S.) Conference ID: 4425989 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/
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