Banco Macro announces Results for the Second Quarter of 2019
07 ago 2019
Buenos Aires, Argentina, August 7, 2019 – Banco Macro S.A. (NYSE: BMA; BCBA: BMA) (“Banco Macro” or “BMA” or the “Bank”) announced today its results for the second quarter ended June 30, 2019 (“2Q19”). All figures are in Argentine pesos (Ps.)
Summary
- The Bank’s net income totaled Ps.7.0 billion in 2Q19. This result was 4% lower than the Ps.7.3 billion posted in 1Q19 and 124% higher than in 2Q19. In 2Q19, the accumulated annualized return on average equity (“ROAE”) and the accumulated annualized return on average assets (“ROAA”) were 47% and 7.7%, respectively. In 2Q19 Recurring Net Income totaled Ps.7.8 billion increasing 37% or Ps.2.1 billion compared with the previous quarter.
- In 2Q19, Banco Macro’s financing to the private sector grew Ps.705 million quarter over quarter (“QoQ”) totaling Ps.174.7 billion and increased 16% or Ps.23.8 billion year over year (“YoY”). In the quarter, growth was driven by commercial loans, among which Overdrafts and Others stand out, with a 41% and 6% increase QoQ.
- In 2Q19, Banco Macro’s total deposits grew 4% or Ps.11.7 billion QoQ, totaling Ps.284.3 billion and representing 84% of the Bank’s total liabilities. Private sector deposits grew 7% or Ps.16.2 billion QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.51.0 billion 26.3% regulatory capital ratio – Basel III and 19.6% Tier 1 Ratio. In addition, the Bank’s liquid assets remained at an adequate level, reaching 66.4% of its total deposits in 2Q19.
- As of 2Q19, the efficiency ratio reached 33.5%, improving from the 38.7% posted in 2Q18.
- In 2Q19, the Bank’s non-performing to total financing ratio was 2.12% and the coverage ratio reached 116.1%.
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
Thursday, August 8, 2019
Time: 12:00 a.m. Eastern Time | 1:00 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
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; BCBA: 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.
Banco Macro S.A (NYSE: BMA; BCBA: 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