BUENOS AIRES, Argentina, May 7 /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 ended March 31, 2010 ("1Q10"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
SUMMARY -- The Bank's net income totaled Ps.246.0 million. This result was 58% higher than the Ps.156.0 million posted for the first quarter of 2009 ("1Q09"). The annualized 1Q10 ROAE and ROAA were 28% and 3.6%, respectively. -- In 1Q10, the Bank's net financial income was Ps.654.0 million, increasing 32% year over year ("YoY"). In addition, Banco Macro's operating income rose 36% YoY to Ps.422.3 million from Ps. 309.6 million. -- Banco Macro's financing to private sector grew 5%, or Ps.547.8 million, quarter to quarter ("QoQ"). This growth was led by consumer loans which rose 6% and "other loans" (which includes pre-export financing and commercial loans to small and medium size companies (SMEs)) which grew 8%. -- Total deposits grew 5% or Ps.920.3 million QoQ, totaling Ps.19.5 billion and representing 79% of the Bank's total liabilities. Public sector deposits, in the provinces where the Bank acts as the financial agent, rose 19% recovering the level of previous quarters. -- Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.2.5 billion (29.1% capitalization ratio) in 1Q10. In addition, the Bank's liquid assets remained at a high level, reaching 60.4% of its total deposits at March 31, 2010. -- In 1Q10, the Bank's non-performing to total financing ratio reached 2.95% and the coverage ratio was 118.6%, compared to 3.25% and 116.1%, respectively, in the previous quarter (4Q09).
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 10, 2010 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, (Finance and Investor Relations Manager). Dial-in information:
(888) 298-3511 (Within the U.S.) (719) 325-2223 (Outside the U.S.) Conference ID: 7056143 INVESTOR RELATIONS CONTACTS: ---------------------------- In Buenos Aires: Jorge Scarinci, CFA Finance and Investor Relations Manager Tel: +5411-5222-6730 E-mail: investorelations@macro.com.ar visit our website at: http://www.macro.com.ar/
Banco Macro S.A.
CONTACT: Jorge Scarinci, Banco Macro, CFA, Finance and Investor
Relations Manager, +5411-5222-6730, investorelations@macro.com.ar
Web Site: http://www.macro.com.ar/
