Banco Macro Profit Rises - Quick Facts

(RTTNews) - Argentina-based Banco Macro S.A. (BMA) Friday reported third-quarter net income of 571.9 million pesos, up 39 percent from 411.9 million pesos last year. In the sequential second quarter, the company reported net income of 460.4 million pesos.

During the quarter, the accumulated annualized return on average equity (ROAE) and the accumulated annualized return on average assets (ROAA) were 28.3 percent and 3.8 percent,respectively.

Banco Macro said its financing to the private sector grew 8 percent or 2.6 billion persos quarter over quarter totaling 37.1 billion pesos.

Commercial loans showed the best performance. Among commercial loans, overdrafts and other loans, including loans to small and medium size companies (SMEs),grew 26 percent and 5 percent quarter over quarter, respectively. Among consumer loans, credit cards loans and personal loans rose 8 percent and 6 percent quarter over quarter QoQ, respectively.

Banco Macro's total deposits grew 6 percent quarter over quarter, totaling 41.8 billion pesos and representing 85 percent of the Bank's total liabilities. Private sector deposits grew 9 percent quarter over quarter.

Banco Macro continued showing a strong solvency ratio, with excess capital of 3.5 billion pesos (23.1% capitalization ratio). In addition, the Bank's liquid assets remained at an adequate level, reaching 30.2 percent of its total deposits in the quarter.

The Bank's non-performing to total financing ratio was 1.76 percent and the coverage ratio reached 147.45 percent for the quarter.