Banco Macro Announces Results for the Second Quarter of 2008
August 07 2008 - 6:43PM
PR Newswire (US)
BUENOS AIRES, Argentina, Aug. 7 /PRNewswire-FirstCall/ -- Banco
Macro S.A. (NYSE: BMA; Buenos Aires: BMA) ("Banco Macro" or "BMA"
or the "Bank") announced today its results for the second quarter
period ended June 30, 2008 ("2Q08"). All figures are in Argentine
pesos (Ps.) and have been prepared in accordance with Argentine
GAAP. SUMMARY -- The Bank's net income totalled Ps.161.0 million.
This result was 40%, or Ps.45.7 million, higher than 2Q07's
Ps.115.3 million, and 6%, or Ps.9.4 million above 1Q08. The
annualized 2Q08 ROAE and ROAA were 23.6% and 3.1%, respectively. --
The Bank's net financial income was Ps.398.6 million, increasing
70% year over year ("YoY") and 12% quarter over quarter (QoQ).
Banco Macro's operating income of Ps.233.6 million jumped 109% YoY
compared to the Ps.111.9 million posted in 2Q07. -- Banco Macro's
financing to the private sector showed an attractive growth of 47%
YoY, or Ps.3,446 million and 8% QoQ, or Ps.819 million. Personal
loans, which represent a strategic product for the Bank, once again
led annual private loan portfolio growth while overdrafts to Triple
"A" companies were the leading products for 2Q08. -- Total deposits
grew 2%, or Ps.355 million QoQ, totalling Ps.14.9 billion and
representing 81% of the Bank's liabilities. Quarterly deposit
growth was led by public sector deposits (16%) while private sector
deposits remained unchanged. -- Banco Macro continued showing a
strong solvency ratio, with an excess capital of Ps.1.66 billion
(22.1% capitalization ratio). In addition, the Bank's liquid assets
remained at a high level, reaching 53.6% of total deposits. -- The
Bank's non-performing loans to total loans ratio was 2.03% and the
coverage ratio reached 107.8%. -- During 2Q08, the Bank paid a cash
dividend of Ps.171 million (Ps.0.25 per share). -- In 2Q08, the
Bank repurchased 13.6 million shares, according to the Share Buy
Back Program launched on January 8, 2008. 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
August 8, 2008 at 12:00 p.m. Buenos Aires time (11:00 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: (877) 718-5101
(Within the U.S.) (719) 325-4800 (Outside the U.S.) Conference ID:
9227304 INVESTOR RELATIONS CONTACTS: In Buenos Aires: Jorge
Scarinci, CFA Finance and Investor Relations Manager Tel:
+5411-5222-6730 E-mail: Visit our website at:
http://www.macro.com.ar/ DATASOURCE: Banco Macro S.A. CONTACT:
Jorge Scarinci, CFA, Finance and Investor Relations Manager, Banco
Macro, +011-5411-5222-6730, Web site: http://www.macro.com.ar/
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