Banco Macro Announces Results for the Third Quarter of 2009

Wednesday, November 04, 2009 4:33 PM

BUENOS AIRES, Argentina, Nov. 4, 2009 (PRNewswire-FirstCall) -- Banco Macro S.A. (NYSE: BMA; Buenos Aires: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the third quarter ended September 30, 2009 ("3Q09"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.

SUMMARY

-- The Bank's net income totaled Ps.190.9 million. This result was 17% higher than the Ps.163.3 million posted for the third quarter of 2008 ("3Q08"). The annualized 3Q09 ROAE and ROAA were 25.5% and 3.1%, respectively.

-- In 3Q09, the Bank's net financial income was Ps.662.5 million, increasing 80% year to year ("YoY"). In addition, Banco Macro's operating income rose 89% YoY to Ps.413.8 million.

-- Banco Macro's financing to the private sector grew 2% quarter to quarter ("QoQ"), or Ps.184.5 million, led by consumer loans, mortgages and discounted documents.

-- In 3Q09, total deposits grew 5% QoQ, totaling Ps.18.5 billion and representing 80% of the Bank's liabilities. The quarterly deposit growth was led by checking accounts and time deposits from the private sector.

-- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.2.1 billion (25.3% capitalization ratio) in 3Q09. In addition, the Bank's liquid assets remained at a high level, reaching 59.7% of its total deposits.

-- In 3Q09, the Bank's non-performing to total financing ratio reached 3.1% and the coverage ratio was 116%.

A longer version of this press release with detailed information is available on our web site: http://www.macro.com.ar

QUARTERLY CONFERENCE CALL

A conference call to discuss this press release will be held on November 5, 2009 at 12:00 p.m. Buenos Aires time (10:00 a.m., New York time), with the presence of Jorge Pablo Brito (Member of the Executive Committee), Guillermo Stanley (Board Member), Guillermo Goldberg (Deputy General Manager) and Jorge Scarinci (Finance and Investor Relations Manager). Dial in information:

    (800) 909-5202 (Within the U.S.)
(785) 830-7975 (Outside the U.S.)
Conference ID: 3070543

INVESTOR RELATIONS CONTACTS:

In Buenos Aires:
Jorge Scarinci, CFA
Finance and Investor Relations Manager
Tel: +5411-5222-6730
E-mail: investorelations@macro.com.ar
Visit our website at: http://www.macro.com.ar

SOURCE Banco Macro S.A.

(Source: iStockAnalyst )

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