BUENOS AIRES, Argentina, Nov. 8, 2013 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BCBA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the third quarter ended September 30, 2013 ("3Q13"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
- The Bank's net income totaled Ps.571.9 million in 3Q13. This result was 24% higher than the Ps.460.4 million reported in the second quarter of 2013 ("2Q13") and 39% higher than the Ps.411.9 million posted in the third quarter of 2012 ("3Q12"). In 3Q13, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 28.3% and 3.8%, respectively.
- In 3Q13, Banco Macro's financing to the private sector grew 8% or Ps.2.6 billion quarter over quarter ("QoQ") totaling Ps.37.1 billion. Commercial loans showed the best performance. Among commercial loans, overdrafts and other loans, including loans to small and medium size companies (SMEs), grew 26% and 5% QoQ , respectively. Among consumer loans, credit cards loans and personal loans rose 8% and 6% QoQ, respectively.
- In 3Q13, Banco Macro's total deposits grew 6% QoQ, totaling Ps.41.8 billion and representing 85% of the Bank's total liabilities. Private sector deposits grew 9% QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.3.5 billion (23.1% capitalization ratio). In addition, the Bank's liquid assets remained at an adequate level, reaching 30.2% of its total deposits in 3Q13.
- In 3Q13, the Bank's non-performing to total financing ratio was 1.76% and the coverage ratio reached 147.45%.
3Q13 Earnings Release Conference Call
Tuesday, November 12, 2013 Time: 11:00 a.m. Eastern Time | 1:00 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