Banco Macro Announces Results for the Fourth Quarter of 2009

USA - English

USA - English

USA - English

USA - English

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Feb 11, 2010, 05:54 ET

BUENOS AIRES, Argentina, Feb. 11 /PRNewswire-FirstCall/ -- Banco Macro S.A. (NYSE: BMA; Buenos Aires: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the fourth quarter ended December 31, 2009 ("4Q09"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.

SUMMARY

-- The Bank's net income totalled Ps.241.8 million. This result was 31% higher than the Ps.184.1 million posted for the fourth quarter of 2008 ("4Q08") and 27% higher than the Ps.190.9 million earned in 3Q09. The annualized 4Q09 ROAE and ROAA were 30.2% and 3.8%, respectively.

-- In 4Q09, the Bank's net financial income was Ps.585.1 million, increasing 3% year to year ("YoY"). In addition, Banco Macro's operating income rose 33% YoY to Ps.316.5 million from Ps. 237.8 million.

-- Banco Macro's loans to private sector grew 2% quarter to quarter ("QoQ"), or Ps.186.9 million, with a recovery in consumer lending (credit card loans rose 12% and consumer loans grew 4%) and a 6% increase in discounted documents.

-- Total deposits grew 17%, or Ps. 2,764.5 million YoY, totalling Ps.18.6 billion and representing 79% of the Bank's total liabilities. Total deposits remained stable QoQ with a 3% increase in private sector deposits offset by a 11% decline in public sector deposits.

-- Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.2.4 billion (27.4% capitalization ratio) in 4Q09. In addition, the Bank's liquid assets remained at a high level, reaching 60.6% of its total deposits at December 31, 2009.

-- In 4Q09, the Bank's non-performing to total financing ratio reached 3.2% and the coverage ratio was 116.1%.

A longer version of this press release with detailed information is available on our web site: www.macro.com.ar

QUARTERLY CONFERENCE CALL

A conference call to discuss this press release will be held on February 12, 2010 at 12:00 p.m. Buenos Aires time (10:00 a.m., New York time), with the presence of Jorge Pablo Brito (Member of the Executive Committee), Guillermo Stanley (Board Member), Guillermo Goldberg (Deputy General Manager) and Jorge Scarinci, (Finance and Investor Relations Manager). Dial in information:

                       (877) 419-6600 (Within the U.S.)
                      (719) 325-4788 (Outside the U.S.)
                            Conference ID: 4425989

    INVESTOR RELATIONS CONTACTS:
    In Buenos Aires:
    Jorge Scarinci, CFA
    Finance and Investor Relations Manager
    Tel: +5411-5222-6730
    E-mail: [email protected]
    visit our website at: www.macro.com.ar

SOURCE Banco Macro S.A.