Banco Macro announces Results for the First Quarter of 2018

15 may 2018

• The Bank’s net income totaled Ps.3.6 billion in 1Q18.This result was 17% higher than the Ps.3 billionposted in the fourth quarter of 2017 ("4Q17") and 77% higher than a year ago. In 1Q18, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 29.4% and 6.2%, respectively.
• In 1Q18, Banco Macro’s financing to the private sector grew 10% or Ps.13.4 billion quarter over quarter ("QoQ") totaling Ps.142.2 billion and increased 52% or Ps.48.5 billion year over year ("YoY"). In the quarter, growth was driven by commercial loans, among which Overdrafts and Others stand out, which grew 36% and 11% QoQ, respectively. Meanwhile within consumer loans, mortgage loans, personal loans and credit cards rose 27%, 9% and 6% QoQ, respectively.
• In 1Q18, the accumulated efficiency ratio reached 38.8%, better than the 43.3% posted in 4Q17 and the 45.4% in 1Q17. Net fee income over administrative expenses was 54%, higher than the 50.5% registered in 4Q17.
• In 1Q18, Banco Macro’s total deposits grew 4% QoQ, totaling Ps.149.5 billion and representing 82% of the Bank’s total liabilities. Private sector deposits grew 3% QoQ.
• Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.37.6 billion and 27.3% regulatory capital ratio - Basel III. In addition, the Bank’s liquid assets remained at an adequate level, reaching 44.9% of its total deposits in 1Q18.
• In 1Q18, the Bank’s non-performing to total financing ratio was 1.1% and the coverage ratio reached 178.68%.