BUENOS AIRES, Argentina, May 10, 2012 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BCBA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the first quarter ended March 31, 2012 ("1Q12"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
- The Bank's net income totaled Ps.323.8 million in 1Q12. This result was 7% lower than the Ps.346.4 million reported in the fourth quarter of 2011 ("4Q11") and 26% higher than the result posted in the first quarter 2011 ("1Q11"). In 1Q12, the annualized return on average equity ("ROAE") and an annualized return on average assets ("ROAA") were of 26.4% and 3.2%, respectively.
- In 1Q12, the Bank's net financial income was Ps.892.5 million decreasing by 1% compared to 4Q11.
- In 1Q12, Banco Macro's financing to the private sector grew 3% or Ps.710.1 million quarter over quarter ("QoQ") totaling Ps.25.3 billion, excluding liquidity administration credit lines. Both commercial and consumer loans continued showing growth. Among commercial loans, overdrafts and other loans grew 5% and 7% QoQ, respectively. Personal and credit cards loans rose 5% and 11% QoQ, respectively.
- In 1Q12, Banco Macro's total deposits grew 12% QoQ, totaling Ps.32.7 billion and representing 81% of the Bank's total liabilities. Private sector deposits grew 8% in 1Q12, led by time deposits which increased 13%.
- In 1Q12, the Bank's non-performing to total financing ratio was 1.57% and the coverage ratio reached 160.7%.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.2.2 billion (18.3% capitalization ratio). In addition, the Bank's liquid assets remained at an adequate level, reaching 43.9% of its total deposits in 1Q12.
1Q12 Earnings Release Conference Call
Friday, May 11, 2012Time: 10:00 a.m. Eastern Time | 11:00 a.m. Buenos Aires Time To participate, please dial: