SUMMARY
-- The Bank's net income totaled Ps.156.0 million. This result was 3% higher than the Ps.151.6 million posted for the first quarter of 2008 ("1Q08"). The annualized 1Q09 ROAE and ROAA were 21.7% and 2.6%, respectively.
-- The Bank's net financial income was Ps.496.7 million, increasing 40% year to year ("YoY"). Banco Macro's operating income rose 74% YoY to Ps.309.5 million.
-- Banco Macro's financing to the private sector grew 11% YoY, or Ps.1.2 billion. Loans to SMEs and export-financing led the expansion with a 28% YoY growth, while personal loans, which represent a strategic product for the Bank, grew 8% YoY.
-- Total deposits grew 9%, or Ps.1.5 billion quarter to quarter (QoQ), totaling Ps.17.3 billion and representing 79% of the Bank's liabilities. The growth in QoQ deposits was led by private sector CDs (21% increase).
-- Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.1.90 billion (24.6% capitalization ratio). In addition, the Bank's liquid assets remained at a high level, reaching 56.0% of its total deposits.
-- The Bank's non-performing loans to total loans ratio was 3.06% and the coverage ratio reached 121.16%.
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SOURCE Banco Macro S.A.