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UPDATE 1-Argentina's Banco Macro reports bigger Q4 net profit
February 14, 2013 / 10:30 PM / 5 years ago

UPDATE 1-Argentina's Banco Macro reports bigger Q4 net profit

BUENOS AIRES, Feb 14 (Reuters) - Banco Macro , one of Argentina’s largest private banks, reported a net profit of 426 million pesos ($87 million) in the fourth quarter, up 23 percent from the same period a year earlier and beating expectations.

A Reuters poll of five analysts had put the company’s quarterly net profit at a median of 390 million pesos, with estimates ranging from 375 million to 435 million pesos.

The bank, which registered net earnings of 346 million pesos in the last three months of 2011, said financing to the private sector -- including commercial loans, credit cards and personal loans -- had continued to grow in the fourth quarter.

In a statement to Buenos Aires stock exchange, Banco Macro said it earned 1.49 billion pesos in full-year 2012, up 26 percent from the 1.18 billion peso profit reported in 2011.

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