BUENOS AIRES, Argentina, Aug. 7, 2012 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BCBA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the second quarter ended June 30, 2012 ("2Q12"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
- The Bank's net income totaled Ps.332.1 million in 2Q12. This result was 3% higher than the Ps.323.8 million reported in the first quarter of 2012 ("1Q12") and 29% higher than the Ps.257.8 million posted in the second quarter of 2011 ("2Q11"). In 2Q12, the annualized return on average equity ("ROAE") and a annualized return on average assets ("ROAA") were of 25.9% and 3.1%, respectively.
- In 2Q12, Banco Macro's financing to the private sector grew 3% or Ps.835.4 million quarter over quarter ("QoQ") totaling Ps.26.2 billion, excluding liquidity administration credit lines. Both commercial and consumer loans continued showing growth. Among commercial loans, overdrafts grew 42% QoQ. Personal and credit cards loans rose 3% and 8% QoQ, respectively.
- In 2Q12, Banco Macro's total deposits grew 3% QoQ, totaling Ps.33.6 billion and representing 82% of the Bank's total liabilities. Private sector deposits remained similar as in the last quarter.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.2.1 billion (18.7% capitalization ratio). In addition, the Bank's liquid assets remained at an adequate level, reaching 40% of its total deposits in 2Q12.
- In 2Q12, the Bank's non-performing to total financing ratio was 1.58% and the coverage ratio reached 169.5%.
2Q12 Earnings Release Conference Call