- The Bank's net income totaled Ps.257.8 million in 2Q11. This result was similar to the Ps.257.7 million in the previous quarter ("1Q11") and 16% higher than the Ps.222.1 million posted for the second quarter of 2010 ("2Q10"). In 2Q11, the three-month annualized return on average equity ("ROAE") and return on average assets ("ROAA") were 24.7% and 3.1%, respectively.
- In 2Q11, the Bank's net financial income was Ps.675.1 million increasing by 6% compared to 1Q11. In the first six months of 2011, Banco Macro's net financial income (excluding income from government and private securities) was 64% higher than in the first six months of 2010, showing an improvement of the financial income quality.
- In 2Q11, Banco Macro's financing to the private sector grew 12% or Ps.2.2 billion quarter over quarter ("QoQ") totalling Ps.19.9 billion, excluding liquidity administration credit lines. Both consumer and commercial loans continued showing growth. Personal loans and credit cards loans rose 13% and 24% QoQ, respectively, while overdraft and documents grew 38% and 13% QoQ, respectively.
- In 2Q11, Banco Macro's total deposits grew 5% QoQ, totalling Ps.26.5 billion and representing 82% of the Bank's total liabilities. Private sector deposits grew 4% in 2Q11, led by transactional deposits which increased 11%.
- In 2Q11, the Bank's non-performing to total financing ratio improved QoQ to 1.5% and the coverage ratio reached 158.2%.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.2.0 billion (20.0% capitalization ratio). In addition, the Bank's liquid assets remained at an adequate level, reaching 42.4% of its total deposits in 2Q11.
- A longer version of this press release with detailed information is available on our web site: www.macro.com.ar
Banco Macro Announces Results For The Second Quarter Of 2011
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