BUENOS AIRES, Argentina, April 21, 2016 /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, 2016 ("1Q16"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
Summary
- The Bank's net income totaled Ps.1.4 billion in 1Q16. This result was 26% higher than the Ps.1.1 billion posted in the first quarter of 2016 ("1Q15"). In 1Q16, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 33.3% and 5.1%, respectively.
- In 1Q16, Banco Macro's financing to the private sector decreased Ps.218.8 million quarter over quarter ("QoQ") totaling Ps.62.7 billion but grew 30% year over year ("YoY"). Among consumer loans, growth was driven by personal loans and credit cards which grew 6% and 1% QoQ, respectively. Meanwhile within commercial loans, during 1Q16, Banco Macro granted Ps.1.9 billion loans regarding the "Credit Line for Productive Financing and Financial Inclusion" program.
- In 1Q16, Banco Macro's total deposits grew 9% QoQ, totaling Ps.83.8 billion and representing 85% of the Bank's total liabilities. Private sector deposits grew 11% QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.8.7 billion (23.5% capitalization ratio). In addition, the Bank's liquid assets remained at an adequate level, reaching 44.4% of its total deposits in 1Q16.
- In 1Q16, the Bank's non-performing to total financing ratio was 1.53% and the coverage ratio reached 151.47%.
1Q16 Earnings Release Conference Call
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Monday, April 25, 2016
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
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To participate, please dial:
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Webcast Replay: click here
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Argentine Participants: (0800) 444 2930
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Available from 04/25/2016 through 05/09/2016
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U.S. Participants: +1 (844) 839 2185
Participants from outside the U.S.: +1 (412) 317 2506
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Conference ID: Banco Macro
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Webcast: click here
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With the presence of: Jorge Pablo Brito (Member of the Executive Committee), Guillermo Goldberg (Financial Deputy General Manager), Jorge Scarinci (Finance and IR Manager) and Ines Lanusse (Investro Relations).
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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
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/banco-macro-announces-results-for-the-first-quarter-of-2016-300255760.html
SOURCE Banco Macro S.A.
