Banco Macro Announces Results for the Second Quarter of 2008 (PR Newswire)

Thursday August 7, 5:43 pm ET BUENOS AIRES, Argentina, Aug. 7 /PRNewswire-FirstCall/ -- Banco Macro S.A. (NYSE: BMA; Buenos Aires: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the second quarter period ended June 30, 2008 ("2Q08"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP. SUMMARY -- The Bank's net income totalled Ps.161.0 million. This result was 40%, or Ps.45.7 million, higher than 2Q07's Ps.115.3 million, and 6%, or Ps.9.4 million above 1Q08. The annualized 2Q08 ROAE and ROAA were 23.6% and 3.1%, respectively. -- The Bank's net financial income was Ps.398.6 million, increasing 70% year over year ("YoY") and 12% quarter over quarter (QoQ). Banco Macro's operating income of Ps.233.6 million jumped 109% YoY compared to the Ps.111.9 million... [read full story]