BUENOS AIRES, Argentina, Aug. 9, 2016 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BCBA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the second quarter ended June 30, 2016 ("2Q16"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
- The Bank's net income totaled Ps.1.8 billion in 2Q16. This result was 28% higher than the Ps.1.4 billion posted in the first quarter of 2016 ("1Q16") and 119% higher than the Ps.824.2 million posted in the second quarter of 2015 ("2Q15"). In 2Q16, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 36.7% and 5.7%, respectively.
- In 2Q16, Banco Macro's financing to the private sector grew 13% or Ps.8.0 billion quarter over quarter ("QoQ") totaling Ps.70.7 billion, and grew 37% or 19.2 billion, year over year ("YoY"). In the quarter, commercial lines stand out, among which, Overdrafts and Documents grew 71% and 38% QoQ, respectively. Among consumer loans, growth was driven by credit cards and personal loans which grew 8% and 5% QoQ, respectively. As of June 2016, Banco Macro has granted Ps.2.1 billion loans, regarding the "Credit Line for Productive Financing and Financial Inclusion" program.
- In 2Q16, Banco Macro's total deposits grew 9% QoQ, totaling Ps.90.9 billion and representing 83% of the Bank's total liabilities. Private sector deposits grew 8% QoQ.
- Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.9.0 billion (22.5% capitalization ratio/ 16.2% regulatory capital - Basel III). In addition, the Bank's liquid assets remained at an adequate level, reaching 41% of its total deposits in 2Q16.
- In 2Q16, the Bank's non-performing to total financing ratio was 1.52% and the coverage ratio reached 150.51%.
2Q16 Earnings Release Conference Call
Wednesday, August 10, 2016
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
To participate, please dial:
Argentine Participants: (0800) 444 2930
U.S. Participants: +1 (844) 839 2185
Participants from outside the U.S.:
+1 (412) 317 2506
Conference ID: Banco Macro
Webcast: click here
Webcast Replay: click here
Available from 08/10/2016 through 08/24/2016
With the presence of: Jorge Pablo Brito (Director), Gustavo Manriquez (General Manager), Jorge Scarinci (Finance and IR Manager) and Ines Lanusse (Head of Investor Relations).
IR Contacts in Buenos Aires:
Finance & IR Manager
Head of Investor Relations
Phone: (54 11) 5222 6682
E-mail: [email protected]
Visit our website at: www.ri-macro.com.ar
SOURCE Banco Macro S.A.