Banco Macro Announces Results for the First Quarter of 2011

BUENOS AIRES, Argentina, May 5, 2011 /PRNewswire/ -- 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, 2011 ("1Q11"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.

SUMMARY

• The Bank's net income totaled Ps.257.7 million in 1Q11. This result was 6% lower than the Ps.274.4 million posted for the fourth quarter of 2010 ("4Q10") and 5% higher than the result posted in the first quarter of 2010 ("1Q10"). In 1Q11, the annualized return on average equity ("ROAE") and return on average assets ("ROAA") were 24.1% and 3.2%, respectively.
• In 1Q11, the Bank's net financial income was Ps.636.1 million, decreasing by 2% compared to 4Q10.
• In 1Q11, Banco Macro's financing to the private sector grew 8% or Ps.1.3 billion quarter on quarter ("QoQ"), excluding liquidity administration credit lines. Within the consumer credit lines, consumer loans and credit cards grew 12% and 7% QoQ, respectively. While among commercial credit lines, documents and structured loans to SMEs grew 12% and 3% QoQ, respectively.
• In 1Q11, total deposits grew 8% QoQ, totaling Ps.25.2 billion and representing 78% of the Bank's total liabilities. Private sector deposits grew 6% in 1Q11, led by transactional deposits, which increased by 9%.
• In 1Q11, the Bank's non-performing loans to total financing ratio improved to 1.7%. Therefore, due to the improvement in asset quality, the coverage ratio reached 157.7%.
• Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.2.6 billion (24.2% capitalization ratio). In addition, the Bank's liquid assets remained at a high level, reaching 49.2% of its total deposits in 1Q11.

A longer version of this press release with detailed information is available on our web site: www.macro.com.ar

QUARTERLY CONFERENCE CALL

A conference call to discuss this press release will be held on May 6, 2011 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:

[phone] (Within the U.S.)
[phone] (Outside the U.S.)
Conference ID: 9301907

INVESTOR RELATIONS CONTACTS:

In Buenos Aires:
Jorge Scarinci, CFA
Finance and Investor Relations Manager
Tel: [phone]
E-mail: [e-mail]
visit our website at: www.macro.com.ar

SOURCE Banco Macro S.A.