Banco Macro announces Results for the Second Quarter of 2020
31 ago 2020
Buenos Aires, Argentina, August 31, 2020 – Banco Macro S.A. (NYSE: BMA; BYMA: BMA) (“Banco Macro” or “BMA” or the “Bank”) announced today its results for the second quarter ended June 30, 2020 (“2Q19”). 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 January 2020, 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 2019 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through June 30, 2020.
Summary
• The Bank’s net income totaled Ps.6.4 billion in 2Q20. This result was 14% lower than the result posted in 1Q20 and 111% higher than in 2Q19. In 2Q20, the accumulated annualized return on average equity (“ROAE”) and the accumulated annualized return on average assets (“ROAA”) were 23% and 5.2%, respectively
•In 2Q20, Banco Macro’s financing to the private sector decreased 5% or Ps.12.2 billion quarter over quarter (“QoQ”) totaling Ps.219.4 billion and 12% or Ps.30.4 billion year over year (“YoY”). In the quarter commercial loans stand out, among which Others stand out; with a 58% increase QoQ, mainly driven by the 24% loans to SMEs.
• In 2Q20, Banco Macro’s total deposits increased 24% or Ps.78 billion QoQ, totaling Ps.406 billion and representing 80% of the Bank’s total liabilities. Private sector deposits increased 16% or Ps.47 billion QoQ.
• Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.101.8 billion, 32.1% regulatory capital ratio – Basel III and 25% Tier 1 Ratio. In addition, the Bank’s liquid assets remained at an adequate level, reaching 54% of its total deposits in 2Q20.
• As of 2Q20, the accumulated efficiency ratio reached 41.6%, slightly deteriorating from the 39.8% posted in 1Q20.
• In 2Q20, the Bank’s non-performing to total financing ratio was 1.52% and the coverage ratio improved to 210%.
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.
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Quarterly Conference Call
Tuesday, September 1, 2020
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
To participate, please dial
Argentine Participants: (0800) 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
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 September 1 through September 15, 2020
Available from September 1 through September 15, 2020
IR Contact in Buenos Aires:
Jorge Scarinci | Chief Financial Officer
Nicolás A. Torres|Investor Relations
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 futher information access www.macro.com.ar/relaciones-inversores 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.