Banco Macro announces Results for the Third Quarter of 2019

08 nov 2019

• The Bank’s net income totaled Ps.13.2 billion in 3Q19. This result was 87% higher than the Ps.7 billion posted in 2Q19 and 243% higher than in 3Q18. In 3Q19, the accumulated annualized return on average equity (“ROAE”) and the accumulated annualized return on average assets (“ROAA”) were 57.3% and 9.4%, respectively. In 3Q19 Recurring Net Income totaled Ps.15.5 billion increasing 99% or Ps.7.7 billion compared with the previous quarter.
   
• In 3Q19, Banco Macro’s financing to the private sector grew 10% or Ps.18.1 billion quarter over quarter (“QoQ”) totaling Ps.192.8 billion and increased 15% or Ps.24.5 billion year over year (“YoY”). In the quarter, growth was driven by commercial loans, among which Overdrafts stand out, with a 78% increase QoQ. Meanwhile within consumer loans, credit card loans increased 12% QoQ. 
   
• In 3Q19, Banco Macro’s total deposits decreased 9% or Ps.25.1 billion QoQ, totaling Ps.259.2 billion and representing 79% of the Bank’s total liabilities. Private sector deposits decreased 8% or Ps.22 billion QoQ.
   
• Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.60.0 billion, 26.5% regulatory capital ratio – Basel III and 18.9% Tier 1 Ratio. In addition, the Bank’s liquid assets remained at an adequate level, reaching 61% of its total deposits in 3Q19.
   
• As of 3Q19, the efficiency ratio reached 32.5%, improving from the 37.6% posted in 3Q18. 
   
• In 3Q19, the Bank’s non-performing to total financing ratio was 1.9% and the coverage ratio reached 124.16%.