BUENOS AIRES, Argentina, Aug. 10 /PRNewswire-FirstCall/ -- Banco Macro Bansud, S.A. (Buenos Aires: BSUD) ("Banco Macro" or "BMA") announced today its results for the second quarter period ended June 30, 2006 ("2Q06"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
HIGHLIGHTS
-- 2Q06 net income totaled $99 million, climbing 62% compared to 2Q05 net
income of $61 million and 36% compared to 1Q06 net income of
$73 million. This profitability level keeps the Bank's 19.5% ROE as
one of the most profitable banks in Argentina.
-- The Bank's high liquidity level (62% of liquid assets to deposits) and
its strong solvency position ($1,466 million of excess capital) remain
as one of the Bank's distinctive characteristics for the quarter.
-- Loans to the private sector continued to climb at high rates. "Core"
credit to the private sector grew 18% for the quarter and 79% year over
year. Consumer loans continued to be the most dynamic segment, with a
199% annual growth rate.
-- The Bank's net interest margin rose to 7.4% compared to the 6.3% posted
in the 1Q06.
-- Banco Macro's asset quality remained on a favorable trend; the non-
performing loan portfolio was 2.4% of the total portfolio at
June 30, 2006, compared to 3.5% at 1Q06. Furthermore, the coverage
ratio of provisions reached 154.2% in the quarter.
-- On August 4, 2006, Argentina's Central Bank approved the acquisition of
Nuevo Banco Bisel S.A. by Banco Macro.
For the complete version of this report please visit: http://www.bansud.com.ar/ .
