BUENOS AIRES, Argentina, Nov. 10, 2014 /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, 2014 ("3Q14"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
Summary
- The Bank's net income totaled Ps.985.5 million in 3Q14. This result was 35% higher than the Ps.732.7 million reported in the second quarter of 2014 ("2Q14") and 72% higher than the Ps.571.9 million posted in the third quarter of 2013 ("3Q13"). In 3Q14, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 38.4% and 5.8%, respectively.
- In 3Q14, Banco Macro's financing to the private sector increased 5% or Ps.2.0 billion quarter over quarter ("QoQ") totaling Ps.41.9 billion. Among commercial loans, pledge loans (mainly productive investments loans with pledge guarantees according to Communication "A" 5319, "A" 5380, "A" 5449, "A" 5516, "A" 5600 and it´s corresponding modifications of BCRA) and overdrafts grew 12% and 10% QoQ, respectively. Among consumer loans, personal loans and credit cards loans rose 7% and 2% QoQ, respectively.
- In 3Q14, Banco Macro's total deposits grew 4% QoQ, totaling Ps.53.1 billion and representing 86% of the Bank's total liabilities. Private sector deposits grew 2% QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.5.7 billion (24.7% capitalization ratio). In addition, the Bank's liquid assets remained at an adequate level, reaching 43% of its total deposits in 3Q14.
- In 3Q14, the Bank's non-performing to total financing ratio was 1.85% and the coverage ratio reached 138.69%.
3Q14 Earnings Release Conference Call
Wednesday, November 12, 2014
Time: 10:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
To participate, please dial:
Argentine Participants: (0800) 444 2930
U.S. Participants: +1 (877) 317 6776
Participants from outside the U.S.: +1 (412) 317 6776
Conference ID: Banco Macro
Webcast:click here
Webcast Replay:click here
Available from 11/12/2014 through 11/26/2014
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 Scarinci
Finance & IR Manager
Ines Lanusse
Investor Relations Officer
Phone: (54 11) 5222 6682
E-mail: investorelations@macro.com.ar
Visit our website at: www.ri-macro.com.ar
SOURCE Banco Macro S.A.
