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Banco Macro reports net income of ARS1.1bn in Q1 2015.

BANKING AND CREDIT NEWS-May 13, 2015-Banco Macro reports net income of ARS1.1bn in Q1 2015

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Argentina-based Banco Macro S.A. (NYSE: BMA) (BCBA: BMA) reported net income of ARS1.1 billion in the first quarter 2015, an increase of 94 percent compared to ARS 575 million in the fourth quarter 2014, and a decrease of 6.0 percent compared to ARS1.2 billion in the first quarter 2014.

In first quarter 2015, the accumulated annualized return on average equity (ROAE) and the accumulated annualized return on average assets (ROAA) were 36.6 percent and 5.9 percent, respectively.

Banco Macro's financing to the private sector grew 9.0 percent or ARS3.8 billion quarter over quarter totaling ARS 48.1 billion.

Among commercial loans, overdrafts grew 67 percent and pledge loans grew 4.0 percent quarter-over-quarter. Within consumer loans, personal loans rose 7.0 percent and credit cards rose 6.0 percent, quarter-over-quarter.

Banco Macro's total deposits grew 7 percent quarter over quarter totaling ARS58.4 billion and representing 85 percent of the bank's total liabilities.

In the first quarter 2015, the bank's non-performing to total financing ratio was 1.92 percent and the coverage ratio reached 131.94 percent.

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Publication:M2 Banking & Credit News (BCN)
Article Type:Financial report
Date:May 13, 2015
Words:220
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