Banco Rio De La Plata S.A. Reports Earnings For the First Quarter Of 2001

-- Net income for the quarter was $57.9 million ($0.167 per share or

$0.334 per ADR), a 6.9% increase from the quarter ended March 31, 2000

and 8.7% higher compared to the previous quarter. Return on average

equity for the quarter was 16.82%. Higher fee income, together with

the result of expense control efforts and risk management, constitute

differentiating factors that allowed the Bank to increase its

profitability.

-- Net fee income grew 8.5% compared to the quarter ended March 31, 2000,

driven by increases in recurring revenues related services like

collections, insurance and credit card operations.

-- Cost to income ratio for the quarter improved from 56.9% in the

quarter ended March 2000 to 52.8% during the quarter, as a result of a

6.3% reduction in expenses and a 1.1% increase in revenues proceeding

from financial income and fee income.

-- The Bank's new non-performing loans during the quarter were $25.1

million, the lowest of the last five quarters. As of March 31, 2001

non-performing loans to total loans were 3.02%, improving from 3.51%

in the previous quarter. During the quarter, the Bank's coverage ratio

was increased to from 102,0% to 110.2%. This performance is the result

of the Bank's success in risk management.



Selected Financial Information?



Apr 24, 2001, 01:00 ET from Banco Rio De La Plata S.A.

    BUENOS AIRES, Argentina, April 24 /PRNewswire Interactive News Release/ --
 Banco Rio de la Plata S.A (NYSE:   BRS) (Buenos Aires Stock Exchange: BRIO)
 (Latibex: XBRSB) announced its results for the first quarter of 2001. These
 results are reported on a consolidated basis.
     Net income for the quarter was $57.9 million, 6.9% higher than the figures
 reported for the same quarter of 2000. This is mainly due to an 8.5% increase
 in net fee income and a 6.0% reduction in operating expenses, resulting in
 additional improvements in efficiency indicators. The continuous growth in fee
 income makes evident the Bank's success in improving recurring revenues. The
 provision for loan losses increased 36.5%, exceeding in $16.9 million the
 necessary amount to maintain the coverage ratio.
     Compared to the previous quarter, net income grew by 8.7% driven by a
 21.3% increase in revenues from financial income.
 
                                         Quarter ended            Variation [%]
                                 3/31/01   12/31/00  3/31/00   Qterly   Annual
     Financial income, net         179,030   147,635   182,424     21.3   -1.9
     Fee income, net *              78,670    78,752    72,540     -0.1    8.5
     Provision for loan losses     -41,989   -38,466   -30,751     -9.2  -36.5
     Operating expenses (exc.
      Amort. & dep.) *            -118,782  -122,572  -126,373      3.1      6
 
 ?
 
     Amortization & Depreciation   -17,174   -16,791   -18,801     -2.3    8.7
     Operating income               79,755    48,558    79,039     64.2    0.9
     Other income, net               4,194     3,316     2,089    -26.5  100.8
     Pre-tax income                 83,949    51,874    81,128     61.8    3.5
     Income tax                    -26,062     1,400   -26,974  1,961.6   -3.4
     Net income for the period      57,887    53,274    54,154      8.7    6.9
 
     Net financial income
     Net financial income for the quarter ended March 31, 2001 was $179.0
 million, a 1.9% decrease compared to the quarter ended March 31, 2000. Lower
 gains from securities were partially compensated by higher foreign exchange
 gains. Net interest income remained almost unchanged, despite the spread of
 loans over the average cost of funds declined 22 basis points.
     Compared to the previous quarter, net financial income increased 21.3%.
 This was due to a 47 basis points decrease in the average cost of deposits and
 higher gains from securities.
 
                                                                   Variation
                                            Quarter ended              [%]
                                     3/31/01   12/31/00  3/31/00  Qterly Annual
     Financial Income                  321,701   307,048   326,866   4.8  -1.6
         - Interest income             248,467   253,301   249,057  -1.9  -0.2
         - Gains from securities        73,234    53,747    77,809  36.3  -5.9
     Financial expense                -151,150  -166,022  -150,153     9  -0.7
     Net financial income before
      adjustments                      170,551   141,026   176,713  20.9  -3.5
         - Foreign exchange Gains       16,372    14,376    14,492  13.9    13
         - Deposits insurance, taxes
          and other                     -7,893    -7,767    -8,781  -1.6  10.1
     Net financial income after
      adjustments                      179,030   147,635   182,424  21.3  -1.9
 
                                                      Quarter ended
                                                   3/31/01            12/31/00
                                         Average                      Average
                                         balance     Rate  Interest    balance
     Loans and financial leasing         6,847,632  13.44  226,863   6,597,872
     Securities                          1,692,826  17.54   73,234   2,001,578
     Other earning assets                1,513,850   5.79   21,604   1,555,123
     Total interest-earning assets      10,054,308  12.98  321,701  10,154,573
 
     Interest-bearing deposits           6,485,654   6.30  100,706   6,488,834
     Other interest-bearing liabilities  2,273,019   9.00   50,444   2,338,272
     Total interest-bearing liabilities  8,758,673   7.00  151,150   8,827,106
 
     Net interest income                                   170,551
 
     Spreads over average cost of
      funds:
     Loans                                           6.44
     Securities                                     10.55
     Earning Assets                                  5.98
     Net Interest margin                             6.88
 
 
                                               Quarter Ended
                                  12-31-00 12-31-00    3/31/00 3/31/00 3/31/00
                                                      Average
                                   Rate   Interest    balance   Rate   Interest
     Loans and financial leasing    13.82  229,817   6,572,414  13.58  222,447
     Securities                     10.65   53,747   1,850,786  16.86   77,809
     Other earning assets            5.99   23,484   1,842,697   5.79   26,610
     Total interest-earning assets     12  307,048  10,265,897  12.77  326,866
 
     Interest-bearing deposits       6.77  110,700   6,148,212   6.19   94,883
     Other interest-bearing
      liabilities                    9.39   55,322   2,563,337   8.65   55,270
     Total interest-bearing
      liabilities                    7.46  166,022   8,711,549   6.91  150,153
 
     Net interest income                   141,026                     176,713
 
     Spreads over average cost of
      funds:
     Loans                           6.36                        6.66
     Securities                      3.19                        9.95
     Earning Assets                  4.53                        5.86
     Net Interest margin             5.51                        6.90
 
     Fee Income
     Net fee income for the quarter ended March 31, 2001 amounted to $78.7
 million, an 8.5% increase over the quarter ended March 31, 2000. The main
 drivers of this growth in fees were deposit accounts, credit cards,
 collections, capital markets activities and insurance. Fees related to
 insurance activities have been increasing consistently since 1998 at a 35%
 annualized rate.
     This increase shows the result of the Bank's efforts in improving
 recurring fees through its segmentation and cross-selling strategies. Fees to
 expenses ratio improved from 50.0% in March 31, 2000, to 57.9% registered
 during the quarter.
 
                                            Quarter ended        Variation [%]
                                      3/31/01  12/31/00 3/31/00  Qterly Annual
     Fee income
         Fees on customer deposits
          accounts                      27,960   28,204   26,991   -0.9    3.6
         Credit Card Operations         18,521   17,153   16,898    8.0    9.6
         Collections                    10,294   10,531    8,471   -2.3   21.5
         Capital Markets and
          Securities Activities         11,323   12,250   10,244   -7.6   10.5
         Fees Related to Foreign Trade   2,189    2,348    2,304   -6.8   -5.0
         Credit Related Fees             9,603   11,736    9,684  -18.2   -0.8
         Safety Deposit Box Rentals      1,400      745    1,545   87.9   -9.4
         Insurance                      11,194    9,277    8,063   20.7   38.8
         Other                           1,388    1,354      388    2.5  257.7
              Total                     93,872   93,598   84,588    0.3   11.0
     Service charge expense
              Total                    -15,202  -14,846  -12,048    2.4   26.2
     Fee income, net                    78,670   78,752   72,540   -0.1    8.5
 
     Operating expenses
     Expenses for the quarter were $136.0 million, 6.3% lower than the quarter
 ended March 31, 2000. The improvement was mainly due to lower personnel
 expenses and administrative services. Excluding management fee and
 depreciation and amortization charges, operating expenses decreased by 5.7%.
     The cost to income ratio improved to 52.8% during the quarter from 56.9%
 registered in the same quarter of the previous year.
     The management fee accrued during the quarter to Grupo Santander Central
 Hispano in accordance with the ten-year agreement executed on August 22, 1997
 was $8.0 million.
 
                                          Quarter ended           Variation [%]
                                   3/31/01   12/31/00  3/31/00   Qterly Annual
     Salaries and payroll taxes      -57,642   -56,570   -62,465    1.9   -7.7
     Administrative services          -9,603   -13,568   -11,414  -29.2  -15.9
     Buildings and services          -21,079   -20,371   -22,241    3.5   -5.2
     Advertising and publicity        -4,578    -7,589    -4,951  -39.7   -7.5
     Stationery and supplies          -1,279    -1,290    -1,568   -0.9  -18.4
     Taxes                            -2,834    -2,825    -2,892    0.3   -2.0
     Other                           -13,767   -14,719   -11,913   -6.5   15.6
     Total expenses before Amort.,
      Depr. & Management Fee        -110,782  -116,932  -117,444   -5.3   -5.7
     Amortization & Depreciation     -17,174   -16,791   -18,801    2.3   -8.7
     Management Fee                   -8,000    -5,640    -8,929   41.8  -10.4
          Total                     -135,956  -139,363  -145,174   -2.4   -6.3
 
     Headcount (number)                5,078     4,881     4,800    4.0    5.8
     Branches (number)                   279       272       264    2.6    5.7
 
     Loans
     The gross loan portfolio grew 5.1% compared to the quarter ended December
 31, 2000. This performance was mainly driven by higher loans to financial
 institutions, partially offset by lower loans to the public sector.
     As of March 31, 2001, loans to the public sector amounted to $1,274
 million while loans to financial institutions amounted to $656 million, most
 of them placements in international financial institutions.
     Mortgage and auto loans continued showing solid growths, being the main
 drivers of the retail portfolio. Compared to March 31, 2000, auto loans showed
 a noteworthy growth of 36,1%. As of March 31, 2001, 64,8% of consumer loans
 have chattel collateral.
     Banco Rio's estimated share of loans in the Argentine financial system,
 according to the Argentine Central Bank data, is 7.69%, which compares with
 7.67% registered in March 31, 2000.
 
                                                                   Variation
                                           Quarter ended              [%]
                                  3/31/01    12/31/00   3/31/00   Qterly Annual
     Loans by segment              6,964,147  6,626,146  6,704,984   5.1   3.9
        -Public sector and
         financial institutions    1,930,018  1,717,703  1,651,168  12.4  16.9
        -Large corporations        2,016,296  1,947,173  2,188,116   3.5  -7.9
        -Middle market companies   1,093,903  1,075,780  1,125,450   1.7  -2.8
        -Consumer                  1,923,930  1,885,490  1,740,250   2.0  10.6
 
                                       Quarter ended              Variation [%]
                                3/31/01    12/31/00   3/31/00    Qterly Annual
     Loans by product            6,964,147  6,626,146  6,704,984    5.1    3.9
        - Advances               4,273,561  4,238,758  4,084,323    0.8    4.6
        - Bills discounted and
         purchased                 275,779    330,363    239,267  -16.5   15.3
        - Mortgage loans         1,202,767  1,148,042  1,036,883    4.8   16.0
        - Auto loans               206,106    190,668    151,423    8.1   36.1
        - Personal loans           242,193    244,712    260,112   -1.0   -6.9
        - Credit card financing    283,371    299,458    273,338   -5.4    3.7
        - other                    480,370    174,145    659,638  175.8  -27.2
 
     Securities
     Banco Rio's government securities portfolio amounted to $2,069.3 million
 as of March 31, 2001, a 14.6% reduction over the previous quarter due to the
 sale of securities recorded under investment accounts.
     Since September 30, 2000, securities held for liquidity requirements have
 been replaced by a time deposit registered at the Central Bank. This deposit,
 recorded under "Other receivable from financial transactions", also computes
 for liquidity requirements. As of March 31, 2001, the Bank holds $379.7
 million in time deposits registered at the Central Bank.
     The $1,787.5 million recorded under "investment accounts" are valued at
 acquisition cost plus the accrued coupon. If holdings were valued at market
 price, total assets would have been $102,5 million lower as of March 31, 2001,
 being that gap originated in the increased turmoil of local markets.
 
                                    Quarter ended              Variation [%]
                           3/31/01    12/31/00   3/31/00    Qterly    Annual
 
     Holdings
        Trading               252,170    213,641    347,463      18.0    -27.4
        Liquidity
         requirements               0          0    438,734             -100.0
        Investment accounts 1,465,147  1,672,710  1,028,424     -12.4     42.5
                            1,717,317  1,886,351  1,814,621      -9.0     -5.4
 
     Adjustments
        BCRA (reverse repo)         0          0   -438,734             -100.0
        Trading (reverse
         repo)                      0          0    -46,385             -100.0
        Trading (repo)         47,956     10,029      2,491     378.2  1,825.2
        Investment accts
         (repo)               322,375    581,663    182,192     -44.6     76.9
        Loans and deposits    -47,735    -52,929    -39,203      -9.8     21.8
        Spot purchases and
         sales pending
         settlement            29,416       -864    -18,860  -3,504.6   -256.0
                              352,012    537,899   -358,499     -34.6   -198.2
 
     Net Position
        Trading               281,807    169,877    245,506      65.9     14.8
        Investment accounts 1,787,522  2,254,373  1,210,616     -20.7     47.7
                            2,069,329  2,424,250  1,456,122     -14.6     42.1
 
     Liabilities and funds under management
     During the quarter ended March 31, 2001, the Bank underwent in an
 increased liquidity position, mainly the result of the reduction of the
 securities portfolio. Therefore, the Bank reduced institutional deposits,
 which decreased 9.1% compared to the quarter ended December 31, 2000. Retail
 deposits decreased 2.5% during the quarter. In the same period, deposits in
 the Argentine financial system decreased 4,2%.
     The Bank's estimated deposit market share as of March 31, 2001 according
 to the Argentine Central Bank data was 7.44%. Deposits plus mutual funds
 amounted to $8,055.1 million, representing an estimated market share of 8.23%.
 
                                          Quarter ended           Variation [%]
                                    3/31/01  12/31/00   3/31/00   Qterly Annual
     Total deposits               6,762,338  7,065,614  6,767,400  -4.3   -0.1
           Retail                 5,043,989  5,175,911  5,266,440  -2.5   -4.2
           Institutional          1,718,349  1,889,703  1,500,960  -9.1   14.5
 
     Corporate bonds              1,005,757    979,532  1,054,795   2.7   -4.6
     Due to correspondent banks     830,421    809,043  1,039,280   2.6  -20.1
 
                                        Quarter ended             Variation [%]
                                3/31/01    12/31/00   3/31/00    Qterly Annual
     Deposits + Mutual Funds     8,055,104  8,505,979  8,131,700   -5.3   -0.9
          Checking                 518,919    460,359    623,831   12.7  -16.8
          Saving deposits        1,408,262  1,288,327  1,574,081    9.3  -10.5
          Time deposits          4,670,114  5,221,456  4,445,014  -10.6    5.1
          Time deposits
           (variable-rate)          35,090     64,286     27,905  -45.4   25.7
          Other                    129,953    110,673     98,867   17.4   31.4
          Mutual funds           1,292,766  1,360,878  1,362,002   -5.0   -5.1
 
     Capital Adequacy
     The BIS capital ratio, calculated in accordance with the rules of the
 Central Bank of Argentina, was 18.86% as of March 2001, an excess on minimum
 capital for the quarter of $498.8 million. All the capital of the Bank is Tier
 One.
 
                                                       Quarter ended
                                              3/31/01     12/31/00    9/30/00
 
     Minimum Capital Requirements (a)         850,257     939,388     862,490
           -Risk value of loans, other
            receivables, other assets and
            guarantees given                  779,143     863,594     778,042
           -Minimum capital required of
            fixed assets                       60,370      60,543      62,482
           -market Risk value                   4,020       9,148       9,739
           -Interest rate Risk                  6,724       6,103      12,227
 
     Computable Net Worth (b)               1,349,067   1,281,449   1,295,702
           -Core capital                    1,344,535   1,138,342   1,192,630
           -Supplemental capital               53,834     204,225     153,932
           -Deductions                        -49,567     -61,697     -51,504
           -Additional integration market
            valuation                             265         579         644
 
     Excess on Minimum Capital (b) - (a)      498,810     342,061     433,212
 
     Net Worth / Assets (%)                     10.03        9.34        9.38
 
     NPL / (Equity + Allowances) (%)            12.92       14.73       14.47
 
     Risk Adjusted Capital Ratio (%)            18.86       16.06        17.9
 
                                                         Quarter Ended
                                                    6/30/00           3/31/00
 
     Minimum Capital Requirements (a)               824,948           801,253
             -Risk value of loans, other
              receivables, other assets
              and guarantees given                  735,643           714,874
             -Minimum capital required of
              fixed assets                           63,080            60,895
             -market Risk value                      14,712             8,531
             -Interest rate Risk                     11,513            16,953
 
     Computable Net Worth (b)                     1,208,208         1,190,740
             -Core capital                        1,169,787         1,205,573
             -Supplemental capital                  103,286            51,899
             -Deductions                            -64,754           -69,432
             -Additional integration
              market valuation                         -111             2,700
 
     Excess on Minimum Capital (b) - (a)            383,260           389,487
 
     Net Worth / Assets (%)                            9.19              9.58
 
     NPL / (Equity + Allowances) (%)                   12.7             12.71
 
     Risk Adjusted Capital Ratio (%)                  17.49             17.77
 
     Asset Quality
     The ratio of non-performing loans to total loans was 3.02%, a significant
 improvement of 49 basis point compared to 3.51% registered in December 31,
 2000. If the loan portfolio acquired as a result of the merger with Banco
 Tornquist was excluded, the non-performing loan ratio as of March 31, 2001,
 would have been 2.2%.
     Despite the long recession that is undergoing the Argentine economy, the
 $25.1 million increase of non-performing loans reached during the quarter was
 the lowest of the last five quarters. Loan loss provisions amounted to $42.0
 million, exceeding by 68% the increase of non-performing, while write-offs
 totaled $46.9 million. This resulted in an increase of the coverage ratio from
 102,0% in the previous quarter to 110,2% as of March 31, 2001.
 
                                       Quarter ended             Variation [%]
                                3/31/01    12/31/00   3/31/00   Qterly  Annual
     Loans (before allowances)  6,964,147  6,626,146  6,571,971     5.1    6.0
     Non-performing at
      beginning of period         232,280    229,951    154,898    -1.0  -50.0
     Increase / (Decrease) in
      NPL                          25,052     45,375    112,481    44.8   77.7
     Write-offs                   -46,878    -43,046    -73,628    -8.9   36.3
     Non-performing at end of
      period                      210,454    232,280    193,751     9.4   -8.6
        - With preferred
         guaranties                79,199    100,146     66,604   -20.9   18.9
        - Without preferred
         guaranties               131,255    132,134    127,147     0.7   -3.2
     Allowances at beginning of
      period                      236,810    248,141    168,112    -4.6   40.9
     Provision (1)                 41,989     33,379    152,957   -25.8   72.5
     Write-offs                   -46,878    -43,046    -73,628    -8.9   36.3
     Allowances restored to
      income.                           0     -1,664       -536  -100.0  210.4
     Allowance at end of period   231,921    236,810    246,905    -2.1   -6.1
     - Non-performing loans /
      loans                         3.02%      3.51%      2.95%
     - Allowances / loans           3.33%      3.57%      3.76%
     - Allowances / Non-
      performing loans             110.2%     102.0%     127.4%
     - Non-performing loans
      with preferred guaranties
      / Non-performing loans        37.6%      43.1%      34.4%
 
     Fourth Quarter Highlights
     Consumer / Middle Market Banking
     During the quarter, the Bank launched "Superfondo America", a stocks fund
 that concentrates its investments in companies of the United States, intended
 to replicate the Standard & Poor's 500 index.
 
     Corporate Banking
     The Bank closed the subscription of a $44.3 million financial trust
 structured to finance the construction of a new building for La Nacion, one of
 the leader newspapers of Argentina. Banco Rio acted as issuer and arranger,
 constituting the biggest financial trust aimed to develop a real state
 project.
 
     Funding
     During the quarter the Bank issued, among 32 participants institutions, a
 US$300 million USCP for a one-year period. This issue was rated A1+ and P1 by
 Standard and Poor's and Moody's respectively, and is backed through a letter
 of credit of BSCH.
 
     The Bank's Research Teams publish daily macroeconomic and financial
 information about the Argentine economy. To access these reports, please enter
 to the Bank's web site at http://www.bancorio.com.ar -- "Vision de Mercados."
 
     Additional Information
     Banco Rio's Background
     Founded in 1908, Banco Rio is one of the leading financial institutions in
 Argentina. Banco Rio is a universal bank, which provides large, middle-market
 and small companies, individuals, governmental agencies and financial
 institutions with one of the broadest range of financial products and services
 in the market. Banco Rio is among the top-ranked banks in the country in terms
 of profitability, asset quality and stockholders' equity. With 279 branches
 and 214 customer service / point of sale facilities and 5,078 employees, the
 Bank provides a wide range of universal banking services to local, regional
 and international clients.
 
     Banco Santander Central Hispano -Leading Financial Group in Latin America
     Banco Santander Central Hispano is the leading financial group in Latin
 America, with a policy of combining global balance sheet strength with local
 management and regional training. Founded in 1857, the Group has a long
 connection with Latin America and a firm commitment that is reflected in the
 US$15 billion invested in the region to date.
     The Group is present in 12 countries representing 98% of the region's GDP:
 Argentina, Bolivia, Brazil, Colombia, Chile, Mexico, Panama, Paraguay, Peru,
 Puerto Rico, Uruguay and Venezuela. The franchise comprises 17 banks, 9
 pension fund managers, 12 mutual funds, 10 insurance companies, 12 brokerages
 and 9 leasing and factoring companies. In all, it has 23 million customers in
 the region and more than 4,600 offices.
     According to latest available data, at the end of December 31, 2000, total
 assets in the region came to US$115 billion. Santander Central Hispano was
 managing a total of US$85.3 billion in savings of Latin American citizens,
 between deposits, mutual funds and pension funds, giving a market share of
 10%. The Group's rigorous risk policy has enabled its non-performing loan
 ratio in the region to stay well below the average for the sector.
 
     Banco Santander Central Hispano Worldwide
     Banco Santander Central Hispano is the leading financial group in Spain
 and Latin America, the third largest by market capitalization in the Euro Zone
 and among the fifteenth largest in the world. BSCH offers a wide range of
 commercial and consumer banking services in Europe and Latin America,
 providing services to 36 million customers through more than 10,800 offices
 and 125,000 employees in 42 countries. As of December 31, 2000, it had more
 than US$324 billion in assets and US$407 billion in total managed funds.
     Management philosophy is focused on creating value for shareholders
 through a model of personalized banking services combined with rigorous
 standards of productivity and efficiency
     In addition to its leading role in Latin America, the Group has
 established important alliances in Europe with leading banks: The Royal Bank
 of Scotland in the UK, Societe Generale in France, San Paolo-IMI in Italy and
 Commerzbank in Germany. It also has subsidiaries in Germany and Portugal as
 well as offices in Africa, Asia and Australia.
     Santander Central Hispano is a world leader in mutual and investment
 funds, and is among the most active banks in Internet banking and in
 developing New Economy projects. By December 31, 2000 it had more than
 1,200,000 web customers.
 
     Certain statements contained in this release are based upon the Bank's
 current expectations. There are forward-looking statements that are subject to
 risks and uncertainties, and are based on assumptions. Many of the factors
 that will determine results are beyond the Bank's ability to control or
 predict. The following important factors, in addition to those discussed in
 this release or in the Bank's Form 20-F filed with the SEC on June 30, 2000,
 may affect the Bank's future results: interest rates and economic conditions
 on a national, regional, or international basis; competitive pressures in the
 commercial banking and financial services industries, and the financial
 resources available to competitors; changes in laws and regulations, including
 accounting standards; and charges in the  securities and foreign exchange
 markets.
 
                               Balance Sheet (1)
                            Consolidated information
 
                                              3/31/01     12/31/00    9/30/00
     ASSETS
 
     Cash and Due from Banks                   820,453   1,091,557   1,062,032
     Government and private securities       1,774,902   1,952,599   1,932,560
     Loans (net of allowances)               6,732,226   6,389,336   6,047,138
     Financial leases (net of allowances)       62,855      61,137      60,557
     Other receivables from financial
      trans.                                 4,025,708   4,347,058   4,666,973
     Investment in other companies              15,772      14,558      15,567
     Bank premises and equipment               343,831     347,831     353,350
     Other assets                              154,825     148,288     162,504
          Goodwill                                 577         625         673
          Organization & Development
           expenses                             43,504      46,041      45,540
          Others                               110,744     101,622     116,291
     Total Assets                           13,930,572  14,352,364  14,300,681
 
     LIABILITIES
 
     Deposits                                6,762,338   7,065,614   7,119,778
     Banks and International Organizations     830,421     809,043     842,585
     Corporate bonds                         1,005,757     979,532   1,034,227
     Other liabilities from financial
      trans.                                 3,689,815   3,923,783   3,712,431
     Other liabilities                         244,712     234,744     250,286
     Total Liabilities                      12,533,043  13,012,716  12,959,307
 
     STOCKHOLDERS' EQUITY                    1,397,529   1,339,648   1,341,374
 
 
 
                               Balance Sheet (1)
                            Consolidated information
                                                  6/30/00           3/31/00
     ASSETS
 
     Cash and Due from Banks                      1,080,974         1,010,001
     Government and private securities            1,780,461         1,851,038
     Loans (net of allowances)                    6,249,083         6,325,066
     Financial leases (net of allowances)            62,006            68,709
     Other receivables from financial
      trans.                                      4,269,760         3,501,582
     Investment in other companies                   18,539            20,352
     Bank premises and equipment                    361,205           364,427
     Other assets                                   189,711           189,183
          Goodwill                                      723               797
          Organization & Development
           expenses                                  50,409            54,080
          Others                                    138,579           134,306
     Total Assets                                14,011,739        13,330,358
 
     LIABILITIES
 
     Deposits                                     6,805,578         6,767,400
     Banks and International Organizations        1,000,306         1,039,280
     Corporate bonds                              1,195,317         1,054,795
     Other liabilities from financial
      trans.                                      3,501,219         2,986,557
     Other liabilities                              221,105           205,367
     Total Liabilities                           12,723,525        12,053,399
 
     STOCKHOLDERS' EQUITY                         1,288,214         1,276,959
 
                         Quarterly Income Statement(1)
                            Consolidated information
 
                               3/31/01   12/31/00  9/30/00   6/30/00   3/31/00
 
     Financial Income          338,073   321,424   310,251   291,785   341,358
         - Interest income     248,467   253,301   239,937   241,532   249,057
         - Gains from
          securities            73,234    53,747    58,750    38,625    77,809
         -Foreign exchange
          Gains                 16,372    14,376    11,564    11,628    14,492
     Financial expense        -159,043  -173,789  -153,345  -147,888  -158,934
         - Interest expense   -151,150  -166,022  -147,021  -139,688  -150,153
         - Deposits insurance   -3,077    -3,022    -2,001    -2,912    -2,989
         - taxes on Financial
          Income                -4,816    -4,745    -4,323    -5,288    -5,792
 
     Financial Margin          179,030   147,635   156,906   143,897   182,424
     Provisions                -41,989   -38,466   -36,694   -41,418   -30,751
     Fee income, net            78,670    78,752    80,191    79,279    72,540
     Operating expenses (exc.
      Amort. & Deprec.)       -118,782  -122,572  -114,006  -111,338  -126,373
         - Personnel           -57,642   -56,570   -54,608   -57,361   -62,465
         - other               -61,140   -66,002   -59,398   -53,977   -63,908
     Amortization &
      Depreciation             -17,174   -16,791   -16,693   -16,524   -18,801
     Other income, net           4,194     3,316     5,278       422     2,089
         -Equity accounting
          holdings               1,485     1,777      -806      -392     1,891
         - loans recovered       9,341     9,473     8,343     6,998     3,415
         - other (net)          -6,632    -7,934    -2,259    -6,184    -3,217
     Income tax                -26,062     1,400   -21,822    -7,313   -26,974
     Net income for the
      period                    57,887    53,274    53,160    47,005    54,154
 
                                  Main Ratios
                                Quarterly Ratios
                                                  Quarter ended
                                  3/31/01  12/31/00 9/30/00  6/30/00  3/31/00
 
     Return on average equity       16.82%   15.57%   16.01%   15.02%   17.23%
     Net income per share            0.167    0.154    0.153     0.14    0.162
     Net income per ADS (2 shares
      per ADS)                       0.334    0.307    0.307     0.28    0.323
     Efficiency ratio                52.8%    61.6%    55.1%    57.3%    56.9%
     Efficiency ratio (2)            41.2%    49.2%    43.1%    44.7%    45.0%
     Capital ratio                  18.86%   16.06%   17.90%   17.49%   17.77%
     Return on average assets        1.64%    1.57%    1.59%    1.43%    1.65%
     Book value per share            4.030    3.864    3.869    3.842    3.809
     Book value per ADS (3 shares
      per ADS)                       8.061    7.727    7.737    7.685    7.618
     Fee income, net / Operational
      expenses                       57.9%    56.5%    61.4%    62.0%    50.0%
     Fee income, net / Operational
      income (3)                     30.5%    34.8%    33.8%    35.5%    28.5%
     Shares (thousand) (4)         346,742  346,742  346,742  335,267  335,267
 
     Liquidity
                                                      Quarter ended
                                       3/31/01 12/31/00 9/30/00 6/30/00 3/31/00
     Cash and Due from Banks to Total
      Deposits                            12.1%   15.4%  14.9%   15.9%   14.9%
     Liquid Assets to Total Deposits (5)  44.0%   50.9%  53.0%   50.5%   46.3%
     Loans to Deposits                    99.6%   90.4%  84.9%   91.8%   93.5%
     Loans in Pesos to Deposits in Pesos  75.9%   75.8%  70.7%   72.7%   74.1%
     Loans in Dollars to Deposits in
      Dollars                            112.3%  100.1%  94.4%  104.0%  109.5%
 
 
     (1) Figures are consolidated with Santander Riobank, Santander Sociedad
         de Bolsa S.A., Santander Sociedad Gerente de F.C.I. S.A. and Gire S.A.
     (2) Excluding Management Fee, Depreciations, and taxes on fees and
         financial income
     (3) Operational income: Net financial income and service charge income
     (4) As a result of the merger with Banco Tornquist, 11,474,990 new shares
         were issued and added to Banco Rio's capital stock. The total shares
         outstanding as of September 30, 2000 are 346,741,990.
     (5) Liquid Assets: Cash and due from banks + Liquidity requirements +
         Total Securities
 
     All the figures reported in this release that correspond to the first
 quarter of 2001 are subject to auditors' final revision, and may be subject to
 final adjustments.  All the figures reported in this release are in thousand
 of pesos except where indicated. Exchange rate 1$ = 1 US$.
 
                     MAKE YOUR OPINION COUNT -- Click Here
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SOURCE Banco Rio De La Plata S.A.
    BUENOS AIRES, Argentina, April 24 /PRNewswire Interactive News Release/ --
 Banco Rio de la Plata S.A (NYSE:   BRS) (Buenos Aires Stock Exchange: BRIO)
 (Latibex: XBRSB) announced its results for the first quarter of 2001. These
 results are reported on a consolidated basis.
     Net income for the quarter was $57.9 million, 6.9% higher than the figures
 reported for the same quarter of 2000. This is mainly due to an 8.5% increase
 in net fee income and a 6.0% reduction in operating expenses, resulting in
 additional improvements in efficiency indicators. The continuous growth in fee
 income makes evident the Bank's success in improving recurring revenues. The
 provision for loan losses increased 36.5%, exceeding in $16.9 million the
 necessary amount to maintain the coverage ratio.
     Compared to the previous quarter, net income grew by 8.7% driven by a
 21.3% increase in revenues from financial income.
 
                                         Quarter ended            Variation [%]
                                 3/31/01   12/31/00  3/31/00   Qterly   Annual
     Financial income, net         179,030   147,635   182,424     21.3   -1.9
     Fee income, net *              78,670    78,752    72,540     -0.1    8.5
     Provision for loan losses     -41,989   -38,466   -30,751     -9.2  -36.5
     Operating expenses (exc.
      Amort. & dep.) *            -118,782  -122,572  -126,373      3.1      6
 
 ?
 
     Amortization & Depreciation   -17,174   -16,791   -18,801     -2.3    8.7
     Operating income               79,755    48,558    79,039     64.2    0.9
     Other income, net               4,194     3,316     2,089    -26.5  100.8
     Pre-tax income                 83,949    51,874    81,128     61.8    3.5
     Income tax                    -26,062     1,400   -26,974  1,961.6   -3.4
     Net income for the period      57,887    53,274    54,154      8.7    6.9
 
     Net financial income
     Net financial income for the quarter ended March 31, 2001 was $179.0
 million, a 1.9% decrease compared to the quarter ended March 31, 2000. Lower
 gains from securities were partially compensated by higher foreign exchange
 gains. Net interest income remained almost unchanged, despite the spread of
 loans over the average cost of funds declined 22 basis points.
     Compared to the previous quarter, net financial income increased 21.3%.
 This was due to a 47 basis points decrease in the average cost of deposits and
 higher gains from securities.
 
                                                                   Variation
                                            Quarter ended              [%]
                                     3/31/01   12/31/00  3/31/00  Qterly Annual
     Financial Income                  321,701   307,048   326,866   4.8  -1.6
         - Interest income             248,467   253,301   249,057  -1.9  -0.2
         - Gains from securities        73,234    53,747    77,809  36.3  -5.9
     Financial expense                -151,150  -166,022  -150,153     9  -0.7
     Net financial income before
      adjustments                      170,551   141,026   176,713  20.9  -3.5
         - Foreign exchange Gains       16,372    14,376    14,492  13.9    13
         - Deposits insurance, taxes
          and other                     -7,893    -7,767    -8,781  -1.6  10.1
     Net financial income after
      adjustments                      179,030   147,635   182,424  21.3  -1.9
 
                                                      Quarter ended
                                                   3/31/01            12/31/00
                                         Average                      Average
                                         balance     Rate  Interest    balance
     Loans and financial leasing         6,847,632  13.44  226,863   6,597,872
     Securities                          1,692,826  17.54   73,234   2,001,578
     Other earning assets                1,513,850   5.79   21,604   1,555,123
     Total interest-earning assets      10,054,308  12.98  321,701  10,154,573
 
     Interest-bearing deposits           6,485,654   6.30  100,706   6,488,834
     Other interest-bearing liabilities  2,273,019   9.00   50,444   2,338,272
     Total interest-bearing liabilities  8,758,673   7.00  151,150   8,827,106
 
     Net interest income                                   170,551
 
     Spreads over average cost of
      funds:
     Loans                                           6.44
     Securities                                     10.55
     Earning Assets                                  5.98
     Net Interest margin                             6.88
 
 
                                               Quarter Ended
                                  12-31-00 12-31-00    3/31/00 3/31/00 3/31/00
                                                      Average
                                   Rate   Interest    balance   Rate   Interest
     Loans and financial leasing    13.82  229,817   6,572,414  13.58  222,447
     Securities                     10.65   53,747   1,850,786  16.86   77,809
     Other earning assets            5.99   23,484   1,842,697   5.79   26,610
     Total interest-earning assets     12  307,048  10,265,897  12.77  326,866
 
     Interest-bearing deposits       6.77  110,700   6,148,212   6.19   94,883
     Other interest-bearing
      liabilities                    9.39   55,322   2,563,337   8.65   55,270
     Total interest-bearing
      liabilities                    7.46  166,022   8,711,549   6.91  150,153
 
     Net interest income                   141,026                     176,713
 
     Spreads over average cost of
      funds:
     Loans                           6.36                        6.66
     Securities                      3.19                        9.95
     Earning Assets                  4.53                        5.86
     Net Interest margin             5.51                        6.90
 
     Fee Income
     Net fee income for the quarter ended March 31, 2001 amounted to $78.7
 million, an 8.5% increase over the quarter ended March 31, 2000. The main
 drivers of this growth in fees were deposit accounts, credit cards,
 collections, capital markets activities and insurance. Fees related to
 insurance activities have been increasing consistently since 1998 at a 35%
 annualized rate.
     This increase shows the result of the Bank's efforts in improving
 recurring fees through its segmentation and cross-selling strategies. Fees to
 expenses ratio improved from 50.0% in March 31, 2000, to 57.9% registered
 during the quarter.
 
                                            Quarter ended        Variation [%]
                                      3/31/01  12/31/00 3/31/00  Qterly Annual
     Fee income
         Fees on customer deposits
          accounts                      27,960   28,204   26,991   -0.9    3.6
         Credit Card Operations         18,521   17,153   16,898    8.0    9.6
         Collections                    10,294   10,531    8,471   -2.3   21.5
         Capital Markets and
          Securities Activities         11,323   12,250   10,244   -7.6   10.5
         Fees Related to Foreign Trade   2,189    2,348    2,304   -6.8   -5.0
         Credit Related Fees             9,603   11,736    9,684  -18.2   -0.8
         Safety Deposit Box Rentals      1,400      745    1,545   87.9   -9.4
         Insurance                      11,194    9,277    8,063   20.7   38.8
         Other                           1,388    1,354      388    2.5  257.7
              Total                     93,872   93,598   84,588    0.3   11.0
     Service charge expense
              Total                    -15,202  -14,846  -12,048    2.4   26.2
     Fee income, net                    78,670   78,752   72,540   -0.1    8.5
 
     Operating expenses
     Expenses for the quarter were $136.0 million, 6.3% lower than the quarter
 ended March 31, 2000. The improvement was mainly due to lower personnel
 expenses and administrative services. Excluding management fee and
 depreciation and amortization charges, operating expenses decreased by 5.7%.
     The cost to income ratio improved to 52.8% during the quarter from 56.9%
 registered in the same quarter of the previous year.
     The management fee accrued during the quarter to Grupo Santander Central
 Hispano in accordance with the ten-year agreement executed on August 22, 1997
 was $8.0 million.
 
                                          Quarter ended           Variation [%]
                                   3/31/01   12/31/00  3/31/00   Qterly Annual
     Salaries and payroll taxes      -57,642   -56,570   -62,465    1.9   -7.7
     Administrative services          -9,603   -13,568   -11,414  -29.2  -15.9
     Buildings and services          -21,079   -20,371   -22,241    3.5   -5.2
     Advertising and publicity        -4,578    -7,589    -4,951  -39.7   -7.5
     Stationery and supplies          -1,279    -1,290    -1,568   -0.9  -18.4
     Taxes                            -2,834    -2,825    -2,892    0.3   -2.0
     Other                           -13,767   -14,719   -11,913   -6.5   15.6
     Total expenses before Amort.,
      Depr. & Management Fee        -110,782  -116,932  -117,444   -5.3   -5.7
     Amortization & Depreciation     -17,174   -16,791   -18,801    2.3   -8.7
     Management Fee                   -8,000    -5,640    -8,929   41.8  -10.4
          Total                     -135,956  -139,363  -145,174   -2.4   -6.3
 
     Headcount (number)                5,078     4,881     4,800    4.0    5.8
     Branches (number)                   279       272       264    2.6    5.7
 
     Loans
     The gross loan portfolio grew 5.1% compared to the quarter ended December
 31, 2000. This performance was mainly driven by higher loans to financial
 institutions, partially offset by lower loans to the public sector.
     As of March 31, 2001, loans to the public sector amounted to $1,274
 million while loans to financial institutions amounted to $656 million, most
 of them placements in international financial institutions.
     Mortgage and auto loans continued showing solid growths, being the main
 drivers of the retail portfolio. Compared to March 31, 2000, auto loans showed
 a noteworthy growth of 36,1%. As of March 31, 2001, 64,8% of consumer loans
 have chattel collateral.
     Banco Rio's estimated share of loans in the Argentine financial system,
 according to the Argentine Central Bank data, is 7.69%, which compares with
 7.67% registered in March 31, 2000.
 
                                                                   Variation
                                           Quarter ended              [%]
                                  3/31/01    12/31/00   3/31/00   Qterly Annual
     Loans by segment              6,964,147  6,626,146  6,704,984   5.1   3.9
        -Public sector and
         financial institutions    1,930,018  1,717,703  1,651,168  12.4  16.9
        -Large corporations        2,016,296  1,947,173  2,188,116   3.5  -7.9
        -Middle market companies   1,093,903  1,075,780  1,125,450   1.7  -2.8
        -Consumer                  1,923,930  1,885,490  1,740,250   2.0  10.6
 
                                       Quarter ended              Variation [%]
                                3/31/01    12/31/00   3/31/00    Qterly Annual
     Loans by product            6,964,147  6,626,146  6,704,984    5.1    3.9
        - Advances               4,273,561  4,238,758  4,084,323    0.8    4.6
        - Bills discounted and
         purchased                 275,779    330,363    239,267  -16.5   15.3
        - Mortgage loans         1,202,767  1,148,042  1,036,883    4.8   16.0
        - Auto loans               206,106    190,668    151,423    8.1   36.1
        - Personal loans           242,193    244,712    260,112   -1.0   -6.9
        - Credit card financing    283,371    299,458    273,338   -5.4    3.7
        - other                    480,370    174,145    659,638  175.8  -27.2
 
     Securities
     Banco Rio's government securities portfolio amounted to $2,069.3 million
 as of March 31, 2001, a 14.6% reduction over the previous quarter due to the
 sale of securities recorded under investment accounts.
     Since September 30, 2000, securities held for liquidity requirements have
 been replaced by a time deposit registered at the Central Bank. This deposit,
 recorded under "Other receivable from financial transactions", also computes
 for liquidity requirements. As of March 31, 2001, the Bank holds $379.7
 million in time deposits registered at the Central Bank.
     The $1,787.5 million recorded under "investment accounts" are valued at
 acquisition cost plus the accrued coupon. If holdings were valued at market
 price, total assets would have been $102,5 million lower as of March 31, 2001,
 being that gap originated in the increased turmoil of local markets.
 
                                    Quarter ended              Variation [%]
                           3/31/01    12/31/00   3/31/00    Qterly    Annual
 
     Holdings
        Trading               252,170    213,641    347,463      18.0    -27.4
        Liquidity
         requirements               0          0    438,734             -100.0
        Investment accounts 1,465,147  1,672,710  1,028,424     -12.4     42.5
                            1,717,317  1,886,351  1,814,621      -9.0     -5.4
 
     Adjustments
        BCRA (reverse repo)         0          0   -438,734             -100.0
        Trading (reverse
         repo)                      0          0    -46,385             -100.0
        Trading (repo)         47,956     10,029      2,491     378.2  1,825.2
        Investment accts
         (repo)               322,375    581,663    182,192     -44.6     76.9
        Loans and deposits    -47,735    -52,929    -39,203      -9.8     21.8
        Spot purchases and
         sales pending
         settlement            29,416       -864    -18,860  -3,504.6   -256.0
                              352,012    537,899   -358,499     -34.6   -198.2
 
     Net Position
        Trading               281,807    169,877    245,506      65.9     14.8
        Investment accounts 1,787,522  2,254,373  1,210,616     -20.7     47.7
                            2,069,329  2,424,250  1,456,122     -14.6     42.1
 
     Liabilities and funds under management
     During the quarter ended March 31, 2001, the Bank underwent in an
 increased liquidity position, mainly the result of the reduction of the
 securities portfolio. Therefore, the Bank reduced institutional deposits,
 which decreased 9.1% compared to the quarter ended December 31, 2000. Retail
 deposits decreased 2.5% during the quarter. In the same period, deposits in
 the Argentine financial system decreased 4,2%.
     The Bank's estimated deposit market share as of March 31, 2001 according
 to the Argentine Central Bank data was 7.44%. Deposits plus mutual funds
 amounted to $8,055.1 million, representing an estimated market share of 8.23%.
 
                                          Quarter ended           Variation [%]
                                    3/31/01  12/31/00   3/31/00   Qterly Annual
     Total deposits               6,762,338  7,065,614  6,767,400  -4.3   -0.1
           Retail                 5,043,989  5,175,911  5,266,440  -2.5   -4.2
           Institutional          1,718,349  1,889,703  1,500,960  -9.1   14.5
 
     Corporate bonds              1,005,757    979,532  1,054,795   2.7   -4.6
     Due to correspondent banks     830,421    809,043  1,039,280   2.6  -20.1
 
                                        Quarter ended             Variation [%]
                                3/31/01    12/31/00   3/31/00    Qterly Annual
     Deposits + Mutual Funds     8,055,104  8,505,979  8,131,700   -5.3   -0.9
          Checking                 518,919    460,359    623,831   12.7  -16.8
          Saving deposits        1,408,262  1,288,327  1,574,081    9.3  -10.5
          Time deposits          4,670,114  5,221,456  4,445,014  -10.6    5.1
          Time deposits
           (variable-rate)          35,090     64,286     27,905  -45.4   25.7
          Other                    129,953    110,673     98,867   17.4   31.4
          Mutual funds           1,292,766  1,360,878  1,362,002   -5.0   -5.1
 
     Capital Adequacy
     The BIS capital ratio, calculated in accordance with the rules of the
 Central Bank of Argentina, was 18.86% as of March 2001, an excess on minimum
 capital for the quarter of $498.8 million. All the capital of the Bank is Tier
 One.
 
                                                       Quarter ended
                                              3/31/01     12/31/00    9/30/00
 
     Minimum Capital Requirements (a)         850,257     939,388     862,490
           -Risk value of loans, other
            receivables, other assets and
            guarantees given                  779,143     863,594     778,042
           -Minimum capital required of
            fixed assets                       60,370      60,543      62,482
           -market Risk value                   4,020       9,148       9,739
           -Interest rate Risk                  6,724       6,103      12,227
 
     Computable Net Worth (b)               1,349,067   1,281,449   1,295,702
           -Core capital                    1,344,535   1,138,342   1,192,630
           -Supplemental capital               53,834     204,225     153,932
           -Deductions                        -49,567     -61,697     -51,504
           -Additional integration market
            valuation                             265         579         644
 
     Excess on Minimum Capital (b) - (a)      498,810     342,061     433,212
 
     Net Worth / Assets (%)                     10.03        9.34        9.38
 
     NPL / (Equity + Allowances) (%)            12.92       14.73       14.47
 
     Risk Adjusted Capital Ratio (%)            18.86       16.06        17.9
 
                                                         Quarter Ended
                                                    6/30/00           3/31/00
 
     Minimum Capital Requirements (a)               824,948           801,253
             -Risk value of loans, other
              receivables, other assets
              and guarantees given                  735,643           714,874
             -Minimum capital required of
              fixed assets                           63,080            60,895
             -market Risk value                      14,712             8,531
             -Interest rate Risk                     11,513            16,953
 
     Computable Net Worth (b)                     1,208,208         1,190,740
             -Core capital                        1,169,787         1,205,573
             -Supplemental capital                  103,286            51,899
             -Deductions                            -64,754           -69,432
             -Additional integration
              market valuation                         -111             2,700
 
     Excess on Minimum Capital (b) - (a)            383,260           389,487
 
     Net Worth / Assets (%)                            9.19              9.58
 
     NPL / (Equity + Allowances) (%)                   12.7             12.71
 
     Risk Adjusted Capital Ratio (%)                  17.49             17.77
 
     Asset Quality
     The ratio of non-performing loans to total loans was 3.02%, a significant
 improvement of 49 basis point compared to 3.51% registered in December 31,
 2000. If the loan portfolio acquired as a result of the merger with Banco
 Tornquist was excluded, the non-performing loan ratio as of March 31, 2001,
 would have been 2.2%.
     Despite the long recession that is undergoing the Argentine economy, the
 $25.1 million increase of non-performing loans reached during the quarter was
 the lowest of the last five quarters. Loan loss provisions amounted to $42.0
 million, exceeding by 68% the increase of non-performing, while write-offs
 totaled $46.9 million. This resulted in an increase of the coverage ratio from
 102,0% in the previous quarter to 110,2% as of March 31, 2001.
 
                                       Quarter ended             Variation [%]
                                3/31/01    12/31/00   3/31/00   Qterly  Annual
     Loans (before allowances)  6,964,147  6,626,146  6,571,971     5.1    6.0
     Non-performing at
      beginning of period         232,280    229,951    154,898    -1.0  -50.0
     Increase / (Decrease) in
      NPL                          25,052     45,375    112,481    44.8   77.7
     Write-offs                   -46,878    -43,046    -73,628    -8.9   36.3
     Non-performing at end of
      period                      210,454    232,280    193,751     9.4   -8.6
        - With preferred
         guaranties                79,199    100,146     66,604   -20.9   18.9
        - Without preferred
         guaranties               131,255    132,134    127,147     0.7   -3.2
     Allowances at beginning of
      period                      236,810    248,141    168,112    -4.6   40.9
     Provision (1)                 41,989     33,379    152,957   -25.8   72.5
     Write-offs                   -46,878    -43,046    -73,628    -8.9   36.3
     Allowances restored to
      income.                           0     -1,664       -536  -100.0  210.4
     Allowance at end of period   231,921    236,810    246,905    -2.1   -6.1
     - Non-performing loans /
      loans                         3.02%      3.51%      2.95%
     - Allowances / loans           3.33%      3.57%      3.76%
     - Allowances / Non-
      performing loans             110.2%     102.0%     127.4%
     - Non-performing loans
      with preferred guaranties
      / Non-performing loans        37.6%      43.1%      34.4%
 
     Fourth Quarter Highlights
     Consumer / Middle Market Banking
     During the quarter, the Bank launched "Superfondo America", a stocks fund
 that concentrates its investments in companies of the United States, intended
 to replicate the Standard & Poor's 500 index.
 
     Corporate Banking
     The Bank closed the subscription of a $44.3 million financial trust
 structured to finance the construction of a new building for La Nacion, one of
 the leader newspapers of Argentina. Banco Rio acted as issuer and arranger,
 constituting the biggest financial trust aimed to develop a real state
 project.
 
     Funding
     During the quarter the Bank issued, among 32 participants institutions, a
 US$300 million USCP for a one-year period. This issue was rated A1+ and P1 by
 Standard and Poor's and Moody's respectively, and is backed through a letter
 of credit of BSCH.
 
     The Bank's Research Teams publish daily macroeconomic and financial
 information about the Argentine economy. To access these reports, please enter
 to the Bank's web site at http://www.bancorio.com.ar -- "Vision de Mercados."
 
     Additional Information
     Banco Rio's Background
     Founded in 1908, Banco Rio is one of the leading financial institutions in
 Argentina. Banco Rio is a universal bank, which provides large, middle-market
 and small companies, individuals, governmental agencies and financial
 institutions with one of the broadest range of financial products and services
 in the market. Banco Rio is among the top-ranked banks in the country in terms
 of profitability, asset quality and stockholders' equity. With 279 branches
 and 214 customer service / point of sale facilities and 5,078 employees, the
 Bank provides a wide range of universal banking services to local, regional
 and international clients.
 
     Banco Santander Central Hispano -Leading Financial Group in Latin America
     Banco Santander Central Hispano is the leading financial group in Latin
 America, with a policy of combining global balance sheet strength with local
 management and regional training. Founded in 1857, the Group has a long
 connection with Latin America and a firm commitment that is reflected in the
 US$15 billion invested in the region to date.
     The Group is present in 12 countries representing 98% of the region's GDP:
 Argentina, Bolivia, Brazil, Colombia, Chile, Mexico, Panama, Paraguay, Peru,
 Puerto Rico, Uruguay and Venezuela. The franchise comprises 17 banks, 9
 pension fund managers, 12 mutual funds, 10 insurance companies, 12 brokerages
 and 9 leasing and factoring companies. In all, it has 23 million customers in
 the region and more than 4,600 offices.
     According to latest available data, at the end of December 31, 2000, total
 assets in the region came to US$115 billion. Santander Central Hispano was
 managing a total of US$85.3 billion in savings of Latin American citizens,
 between deposits, mutual funds and pension funds, giving a market share of
 10%. The Group's rigorous risk policy has enabled its non-performing loan
 ratio in the region to stay well below the average for the sector.
 
     Banco Santander Central Hispano Worldwide
     Banco Santander Central Hispano is the leading financial group in Spain
 and Latin America, the third largest by market capitalization in the Euro Zone
 and among the fifteenth largest in the world. BSCH offers a wide range of
 commercial and consumer banking services in Europe and Latin America,
 providing services to 36 million customers through more than 10,800 offices
 and 125,000 employees in 42 countries. As of December 31, 2000, it had more
 than US$324 billion in assets and US$407 billion in total managed funds.
     Management philosophy is focused on creating value for shareholders
 through a model of personalized banking services combined with rigorous
 standards of productivity and efficiency
     In addition to its leading role in Latin America, the Group has
 established important alliances in Europe with leading banks: The Royal Bank
 of Scotland in the UK, Societe Generale in France, San Paolo-IMI in Italy and
 Commerzbank in Germany. It also has subsidiaries in Germany and Portugal as
 well as offices in Africa, Asia and Australia.
     Santander Central Hispano is a world leader in mutual and investment
 funds, and is among the most active banks in Internet banking and in
 developing New Economy projects. By December 31, 2000 it had more than
 1,200,000 web customers.
 
     Certain statements contained in this release are based upon the Bank's
 current expectations. There are forward-looking statements that are subject to
 risks and uncertainties, and are based on assumptions. Many of the factors
 that will determine results are beyond the Bank's ability to control or
 predict. The following important factors, in addition to those discussed in
 this release or in the Bank's Form 20-F filed with the SEC on June 30, 2000,
 may affect the Bank's future results: interest rates and economic conditions
 on a national, regional, or international basis; competitive pressures in the
 commercial banking and financial services industries, and the financial
 resources available to competitors; changes in laws and regulations, including
 accounting standards; and charges in the  securities and foreign exchange
 markets.
 
                               Balance Sheet (1)
                            Consolidated information
 
                                              3/31/01     12/31/00    9/30/00
     ASSETS
 
     Cash and Due from Banks                   820,453   1,091,557   1,062,032
     Government and private securities       1,774,902   1,952,599   1,932,560
     Loans (net of allowances)               6,732,226   6,389,336   6,047,138
     Financial leases (net of allowances)       62,855      61,137      60,557
     Other receivables from financial
      trans.                                 4,025,708   4,347,058   4,666,973
     Investment in other companies              15,772      14,558      15,567
     Bank premises and equipment               343,831     347,831     353,350
     Other assets                              154,825     148,288     162,504
          Goodwill                                 577         625         673
          Organization & Development
           expenses                             43,504      46,041      45,540
          Others                               110,744     101,622     116,291
     Total Assets                           13,930,572  14,352,364  14,300,681
 
     LIABILITIES
 
     Deposits                                6,762,338   7,065,614   7,119,778
     Banks and International Organizations     830,421     809,043     842,585
     Corporate bonds                         1,005,757     979,532   1,034,227
     Other liabilities from financial
      trans.                                 3,689,815   3,923,783   3,712,431
     Other liabilities                         244,712     234,744     250,286
     Total Liabilities                      12,533,043  13,012,716  12,959,307
 
     STOCKHOLDERS' EQUITY                    1,397,529   1,339,648   1,341,374
 
 
 
                               Balance Sheet (1)
                            Consolidated information
                                                  6/30/00           3/31/00
     ASSETS
 
     Cash and Due from Banks                      1,080,974         1,010,001
     Government and private securities            1,780,461         1,851,038
     Loans (net of allowances)                    6,249,083         6,325,066
     Financial leases (net of allowances)            62,006            68,709
     Other receivables from financial
      trans.                                      4,269,760         3,501,582
     Investment in other companies                   18,539            20,352
     Bank premises and equipment                    361,205           364,427
     Other assets                                   189,711           189,183
          Goodwill                                      723               797
          Organization & Development
           expenses                                  50,409            54,080
          Others                                    138,579           134,306
     Total Assets                                14,011,739        13,330,358
 
     LIABILITIES
 
     Deposits                                     6,805,578         6,767,400
     Banks and International Organizations        1,000,306         1,039,280
     Corporate bonds                              1,195,317         1,054,795
     Other liabilities from financial
      trans.                                      3,501,219         2,986,557
     Other liabilities                              221,105           205,367
     Total Liabilities                           12,723,525        12,053,399
 
     STOCKHOLDERS' EQUITY                         1,288,214         1,276,959
 
                         Quarterly Income Statement(1)
                            Consolidated information
 
                               3/31/01   12/31/00  9/30/00   6/30/00   3/31/00
 
     Financial Income          338,073   321,424   310,251   291,785   341,358
         - Interest income     248,467   253,301   239,937   241,532   249,057
         - Gains from
          securities            73,234    53,747    58,750    38,625    77,809
         -Foreign exchange
          Gains                 16,372    14,376    11,564    11,628    14,492
     Financial expense        -159,043  -173,789  -153,345  -147,888  -158,934
         - Interest expense   -151,150  -166,022  -147,021  -139,688  -150,153
         - Deposits insurance   -3,077    -3,022    -2,001    -2,912    -2,989
         - taxes on Financial
          Income                -4,816    -4,745    -4,323    -5,288    -5,792
 
     Financial Margin          179,030   147,635   156,906   143,897   182,424
     Provisions                -41,989   -38,466   -36,694   -41,418   -30,751
     Fee income, net            78,670    78,752    80,191    79,279    72,540
     Operating expenses (exc.
      Amort. & Deprec.)       -118,782  -122,572  -114,006  -111,338  -126,373
         - Personnel           -57,642   -56,570   -54,608   -57,361   -62,465
         - other               -61,140   -66,002   -59,398   -53,977   -63,908
     Amortization &
      Depreciation             -17,174   -16,791   -16,693   -16,524   -18,801
     Other income, net           4,194     3,316     5,278       422     2,089
         -Equity accounting
          holdings               1,485     1,777      -806      -392     1,891
         - loans recovered       9,341     9,473     8,343     6,998     3,415
         - other (net)          -6,632    -7,934    -2,259    -6,184    -3,217
     Income tax                -26,062     1,400   -21,822    -7,313   -26,974
     Net income for the
      period                    57,887    53,274    53,160    47,005    54,154
 
                                  Main Ratios
                                Quarterly Ratios
                                                  Quarter ended
                                  3/31/01  12/31/00 9/30/00  6/30/00  3/31/00
 
     Return on average equity       16.82%   15.57%   16.01%   15.02%   17.23%
     Net income per share            0.167    0.154    0.153     0.14    0.162
     Net income per ADS (2 shares
      per ADS)                       0.334    0.307    0.307     0.28    0.323
     Efficiency ratio                52.8%    61.6%    55.1%    57.3%    56.9%
     Efficiency ratio (2)            41.2%    49.2%    43.1%    44.7%    45.0%
     Capital ratio                  18.86%   16.06%   17.90%   17.49%   17.77%
     Return on average assets        1.64%    1.57%    1.59%    1.43%    1.65%
     Book value per share            4.030    3.864    3.869    3.842    3.809
     Book value per ADS (3 shares
      per ADS)                       8.061    7.727    7.737    7.685    7.618
     Fee income, net / Operational
      expenses                       57.9%    56.5%    61.4%    62.0%    50.0%
     Fee income, net / Operational
      income (3)                     30.5%    34.8%    33.8%    35.5%    28.5%
     Shares (thousand) (4)         346,742  346,742  346,742  335,267  335,267
 
     Liquidity
                                                      Quarter ended
                                       3/31/01 12/31/00 9/30/00 6/30/00 3/31/00
     Cash and Due from Banks to Total
      Deposits                            12.1%   15.4%  14.9%   15.9%   14.9%
     Liquid Assets to Total Deposits (5)  44.0%   50.9%  53.0%   50.5%   46.3%
     Loans to Deposits                    99.6%   90.4%  84.9%   91.8%   93.5%
     Loans in Pesos to Deposits in Pesos  75.9%   75.8%  70.7%   72.7%   74.1%
     Loans in Dollars to Deposits in
      Dollars                            112.3%  100.1%  94.4%  104.0%  109.5%
 
 
     (1) Figures are consolidated with Santander Riobank, Santander Sociedad
         de Bolsa S.A., Santander Sociedad Gerente de F.C.I. S.A. and Gire S.A.
     (2) Excluding Management Fee, Depreciations, and taxes on fees and
         financial income
     (3) Operational income: Net financial income and service charge income
     (4) As a result of the merger with Banco Tornquist, 11,474,990 new shares
         were issued and added to Banco Rio's capital stock. The total shares
         outstanding as of September 30, 2000 are 346,741,990.
     (5) Liquid Assets: Cash and due from banks + Liquidity requirements +
         Total Securities
 
     All the figures reported in this release that correspond to the first
 quarter of 2001 are subject to auditors' final revision, and may be subject to
 final adjustments.  All the figures reported in this release are in thousand
 of pesos except where indicated. Exchange rate 1$ = 1 US$.
 
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 SOURCE  Banco Rio De La Plata S.A.