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Banco Macro Announces Results for the Second Quarter of 2014

BUENOS AIRES, Argentina, Aug. 6, 2014 /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, 2014 ("2Q14").  All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.

Summary

  • The Bank's net income totaled Ps.732.6 million in 2Q14. This result was 38% lower than the Ps.1.2 billion reported in the first quarter of 2014 ("1Q14") but 59% higher than the Ps.460.4 million posted in the second quarter of 2013 ("2Q13"). In 2Q14, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 39.2% and 5.9%, respectively.
  • In 2Q14, Banco Macro's financing to the private sector slightly decreased quarter over quarter ("QoQ") totaling Ps.39.9 billion. Among commercial loans, documents and others decreased 6% and 4% QoQ, respectively, while pledge loans (mainly productive investments loans with pledge guarantees according to Communication "A" 5319, "A" 5380, "A" 5449 and "A" 5516 of BCRA) presented the best performance followed by overdrafts which grew 7% and 2% QoQ, respectively. Among consumer loans, credit cards loans and personal loans rose 2% and 1% QoQ, respectively. 
  • In 2Q14, Banco Macro's total deposits grew 9% QoQ, totaling Ps.51.3 billion and representing 81% of the Bank's total liabilities. Private sector deposits grew 7% QoQ.
  • Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.5.1 billion (23.2% capitalization ratio). In addition, the Bank's liquid assets remained at an adequate level, reaching 44.3% of its total deposits in 2Q14.
  • In 2Q14, the Bank's non-performing to total financing ratio was 2.02% and the coverage ratio reached 133.07%.

2Q14 Earnings Release Conference Call

Friday, August 8, 2014
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 (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 8/8/2014 through 8/22/2014

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: [email protected]

Visit our website at: www.ri-macro.com.ar

SOURCE Banco Macro S.A.

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