Banco Macro announces Results for the Third Quarter of 2024

Buenos Aires, Argentina, November 27, 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 September 30, 2024 (“3Q24”).  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 September 30, 2024.

Summary

• THE BANK’S NET INCOME totaled Ps.91.3 billion in 3Q24. This result was 293% or Ps.68.1 billion higher  than in 3Q23. In 3Q24, the accumulated annualized return on average equity (“ROAE”) and the accumulated annualized return on average assets (“ROAA”) were 6.8% and 2.1%, respectively.

•In 3Q24, OPERATING INCOME (before G&A and personnel expenses) totaled Ps.829.2 billion, 61% or Ps.313 billion higher than in 2Q24 and 25% or Ps.272.3 lower than 3Q24.

•In 3Q24, OPERATING INCOME (after G&A and personnel expenses) totaled Ps.403.7 billion, 263% or Ps.292.6 billion higher than in 2Q24 and 44% or Ps.322.5 billion lower than the same period of last year.

•In 3Q24, BANCO MACRO’S TOTAL FINANCING increased 17% or Ps.657.9 billion quarter over quarter (“QoQ”) totaling Ps.4.55 trillion and increased 28% or Ps.988 billion year over year (“YoY”). In 3Q24 peso financing increased 19% while USD financing decreased 1%.  

• In 3Q24, BANCO MACRO’S TOTAL DEPOSITS increased 7% or Ps.516 billion QoQ and increased 30% or Ps.1.9 trillion YoY, totaling Ps.8.1 trillion and representing 76% of the Bank’s total liabilities. Private sector deposits increased 6% or Ps.401.8 billion QoQ. In 3Q24, Peso deposits decreased 15% while USD deposits increased 87%.

• Banco Macro continued showing a strong solvency ratio, with an EXCESS CAPITAL of Ps.2.5 trillion, 32.8% Capital Adequacy Ratio – Basel III and 32.8 % Tier 1 Ratio. In addition, the Bank’s LIQUID ASSETS remained at an adequate level, reaching 91% of its total deposits in 3Q24. 

• In 3Q24, the Bank’s NON-PERFORMING TO TOTAL FINANCING RATIO was 1.15% and the COVERAGE RATIO reached 177.6%.

• As of 3Q24, through its 515 branches and 9.109 employees Banco Macro serves 5.24 million retail customers (2.21 million digital customers) across 23 of the 24 Provinces in Argentina and over 161,180 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

Monday, December 2, 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 December 2 through December 16, 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