Banco Macro announces Results for the Second Quarter of 2024

Buenos Aires, Argentina, August 22, 2024 – Banco Macro S.A. (NYSE: BMA; BYMA: BMA) (“Banco Macro” or “BMA” or the “Bank”) announced today its results for the first quarter ended June 30, 2024 (“2Q24”).  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 2023 and 2024 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through June 30, 2024.

Summary

• THE BANK’S NET INCOME totaled Ps.93.1 billion in the six months ended June 30, 2024. This result was 55% or Ps.115.9 billion lower 6M23. In 2Q24, the accumulated annualized return on average equity (“ROAE”) and the accumulated annualized return on average assets (“ROAA”) were 5.4% and 1.7%, respectively.

•In the six months ended June 30, 2024, OPERATING INCOME (before G&A and personnel expenses) totaled Ps.2.38 trillion, 36% or Ps.628.2 billion higher than in 6M23.

•In 2Q24, OPERATING INCOME (after G&A and personnel expenses) totaled Ps.99.1 billion, 93% or Ps.1.39 trillion lower than in 1Q24 and 85% or Ps.544 billion lower than the same period of last year.

•In 2Q24, BANCO MACRO’S TOTAL FINANCING increased 17% or Ps.504.1 billion quarter over quarter (“QoQ”) totaling Ps.3.47 trillion and increased 5% or Ps.154.5 billion year over year (“YoY”). In 2Q24 peso financing increased 7% while USD financing remained unchanged.  

• In 2Q24, BANCO MACRO’S TOTAL DEPOSITS increased 13% or Ps.769.5 billion QoQ and decreased 5% or Ps.329.3 billion YoY, totaling Ps.6.74 trillion and representing 79% of the Bank’s total liabilities. Private sector deposits increased 11% or Ps.591.5 billion QoQ. In 2Q24, Peso deposits increased 17% while USD deposits decreased 6%.

• Banco Macro continued showing a strong solvency ratio, with an EXCESS CAPITAL of Ps.2.36 trillion, 35.7% Capital Adequacy Ratio – Basel III and 34 % Tier 1 Ratio. In addition, the Bank’s LIQUID ASSETS remained at an adequate level, reaching 98% of its total deposits in. 

• In 2Q24, the Bank’s NON-PERFORMING TO TOTAL FINANCING RATIO was 1.23% and the COVERAGE RATIO reached 181.4%.

• As of 2Q24, through its 515 branches and 9.175 employees Banco Macro serves 5.28 million retail customers (2.24 million digital customers) across 23 of the 24 Provinces in Argentina and over 151,900 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.

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Quarterly Conference Call

Friday, August 23, 2024 
Time: 12:00 p.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 August 23 through September 6, 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