BUENOS AIRES, Argentina, May 8, 2013 /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, 2013 ("1Q13"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
- The Bank's net income totaled Ps.457.9 million in 1Q13. This result was 8% higher than the Ps.425.8 million reported in the fourth quarter of 2012 ("4Q12") and 41% higher than the Ps.323.8 million posted in the first quarter of 2012 ("1Q12"). In 1Q13, the annualized return on average equity ("ROAE") and the annualized return on average assets ("ROAA") were 28.4% and 3.7%, respectively.
- In 1Q13, Banco Macro's financing to the private sector grew 5% or Ps.1.5 billion quarter over quarter ("QoQ") totaling Ps.33.4 billion. Commercial loans showed the best performance. Among commercial loans, overdrafts, pledge and mortgages loans (mainly productive investments loans with mortgage and pledge guarantees respectively, according to Communication "A" 5319 of BCRA) grew 24%, 6% and 6% QoQ , respectively. Among consumer loans, personal loans and credit cards loans rose 6% and 3% QoQ, respectively.
- In 1Q13, Banco Macro's total deposits grew 8% QoQ, totaling Ps.39.1 billion and representing 87% of the Bank's total liabilities. Private sector deposits grew 7% QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.2.5 billion (20,2% capitalization ratio). In addition, the Bank's liquid assets remained at an adequate level, reaching 32.7% of its total deposits in 1Q13.
- In 1Q13, the Bank's non-performing to total financing ratio was 1.72% and the coverage ratio reached 156.2%.
1Q13 Earnings Release Conference Call
Thursday, May 9, 2013Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires TimeTo participate, please dial:Argentine Participants: (0800) 444 2930U.S. Participants: +1 (877) 317 6776Participants from outside the U.S.:+1 (412) 317 6776
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts