Banco Macro announces Results for the Fourth Quarter of 2023 

Buenos Aires, Argentina, February 28, 2024 – Banco Macro S.A. (NYSE: BMA; BYMA: BMA) (“Banco Macro” or “BMA” or the “Bank”) announced today its results for the fourth quarter ended December 31, 2023 (“4Q23”).  All figures are in Argentine pesos (Ps.) and have been restated in terms of the measuring unit current at the end of the reporting period. As of 1Q20, the Bank began reporting results applying Hyperinflation Accounting, in accordance with IFRS IAS 29 as established by the Central Bank. For ease of comparison, figures of previous quarters of 2022 and 2023 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through December 31, 2023.

Summary

• Banco Macro's Net Income totaled Ps.460 billion in 4Q23. This result was 3894% higher than the Ps.11.5 billion posted in 3Q23 and 789% higher than the Ps.51.7 billion posted in 4Q22. In FY203 net income totaled Ps.588 billion, 338% higher than in FY2022. In 4Q23, the accumulated annualized return on average equity (“ROAE”) and the accumulated annualized return on average assets (“ROAA”) were 33.2% and 8.7%, respectively.

•In 4Q23, Operating Income (before G&A and personnel expenses) totaled Ps.1.3 trillion, 142% or Ps.778 billion higher than in 3Q23 and 224% or Ps.915.5 billion higher than the same period of last year.

• In 4Q23, Operating Income (after G&A and personnel expenses) totaled Ps.1 trillion, 189% or Ps.679 billion higher than in 3Q23 and 327% or Ps.796 billion higher than the same period of last year.

•In 4Q23, Banco Macro's total financing increased 4% or Ps.66 billion quarter over quarter (“QoQ”) totaling Ps.1.8 trillion and decreased 2% or Ps.30.4 billion year over year (“YoY”). In FY203 both peso an USD financing decreased 6% and 78% respectively.  

• In 4Q23, Banco Macro's total deposits increased 9% or Ps.290.4 billion QoQ and decreased 16% or Ps.663.7 billion YoY, totaling Ps.3.37 trillion and representing 72% of the Bank’s total liabilities. Private sector deposits increased 13% or Ps.360.8 billion QoQ. In FY2023, both Peso and USD deposits decreased, 33% and 58% respectively.

• Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.1.35 trillion, 35.4% Capital Adequacy Ratio – Basel III and 32.8 % Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 118% of its total deposits in 4Q23. 

• In 4Q23, the Bank's non performing to total financing ratio was 1.29% and the COVERAGE RATIO reached 200.91%.

• As of 4Q23, through its 519 branches and 9.192 employees Banco Macro serves 4.96 million retail customers (2.1 million digital customers) across 23 of the 24 Provinces in Argentina and over 139,356 corporate customers.

This press release includes statements concerning potential future events involving Banco Macro that could differ materially from the events that actually occur. The differences could be caused by a number of risks, uncertainties and factors relating to Banco Macro's business. Banco Macro will not update any forward-looking statements made in this press release to reflect future events or developments.

For a full version of this press release, please click here
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Quarterly Conference Call

Thursday, February 29, 2024 
Time: 11:00 a.m. Eastern Time | 1:00 p.m. Buenos Aires Time

To participate, please dial

Argentine Participants: 011 3984 5677
Participants Dial In (Toll Free): +1 (844) 450 3847 
Participants International Dial In: +1 (412) 317 6370 
Conference ID: Banco Macro
Webcast: click here

Webcast Replay: click here
Available from February 29 through March 14, 2024

IR Contact in Buenos Aires:
Jorge Scarinci | Chief Financial Officer
Nicolás A. Torres|Investor Relations

E-mail: investorelations@macro.com.ar | Phone: (5411) 5222 6682

About 
Banco Macro S.A (NYSE: BMA; BYMA: BMA) is a universal bank, with focus in low & mid-income individuals and small & mid-sized companies. The Bank started operating in 1985 as non-banking financial institution and today has grown to be the private local bank with the largest branch network in the country.

For further information access www.macro.com.ar/relaciones-inversores