Skip to main content

Market Overview

Banco Macro Announces Results for the Third Quarter of 2019

Share:

BUENOS AIRES, Argentina, Nov. 8, 2019 /PRNewswire/ -- Banco Macro S.A. (NYSE:BMA, BCBA: BMA)) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the third quarter ended September 30, 2019 ("3Q19").  All figures are in Argentine pesos (Ps.)

Summary

  • 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%.

3Q19 Earnings Release Conference Call

Friday, November 12, 2019
Time: 10:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time

To participate, please dial:
Argentina Toll Free:
(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 11/12/2019 through 11/26/2019

IR Contacts in Buenos Aires:
Jorge Scarinci
Chief Financial Officer
Nicolás A. Torres
Investor Relations
Phone: (54 11) 5222 6682
E-mail: investorelations@macro.com.ar

Visit our website at: www.macro.com.ar/relaciones-inversores

 

Cision View original content:http://www.prnewswire.com/news-releases/banco-macro-announces-results-for-the-third-quarter-of-2019-300955019.html

SOURCE Banco Macro S.A.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com