BUENOS AIRES, Argentina, May 8, 2014 /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, 2014 ("1Q14"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
- The Bank's net income totaled Ps.1.2 billion in 1Q14. This result was 24% higher than the Ps.953.3 million reported in the fourth quarter of 2013 ("4Q13") and 159% higher than the Ps.457.9 million posted in the first quarter of 2013 ("1Q13").
- In 1Q14, Banco Macro's financing to the private sector grew 1% or Ps.569.9 million quarter over quarter ("QoQ") totaling Ps.40.1 billion. Among consumer loans, credit cards grew 5% QoQ, while within commercial loans, overdrafts grew 4% QoQ.
- In 1Q14, Banco Macro's total deposits grew 8% QoQ, totaling Ps.46.9 billion and representing 80% 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.4.9 billion (22.7% capitalization ratio). In addition, the Bank's liquid assets remained at an adequate level, reaching 40.3% of its total deposits in 1Q14.
- In 1Q14, the Bank's non-performing to total financing ratio was 1.88% and the coverage ratio reached 137.21%.
1Q14 Earnings Release Conference Call
Monday, May 12, 2014 Time: 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 6776 Participants from outside the U.S.: +1 (412) 317 6776 Conference ID: Banco MacroWebcast: click here Webcast Replay: click hereAvailable from 5/12/2014 through 5/26/2014 With the presence of: Jorge Pablo Brito (Member of the Executive Committee), Guillermo Goldberg (Commercial Deputy General Manager), Jorge Scarinci (Finance and IR Manager) and Ines Lanusse (Investor Relations Officer). IR Contacts in Buenos Aires : Jorge ScarinciFinance & IR Manager Ines LanusseInvestor Relations Officer Phone: (54 11) 5222 6682E-mail: email@example.com Visit our website at: www.ri-macro.com.ar SOURCE Banco Macro S.A.