Banco Macro announces Results for the Third Quarter of 2019
08 nov 2019
Buenos Aires, Argentina, November 8, 2019 - 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.)
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%.
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
Tuesday, November 12, 2019
Time: 10:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
To participate, please dial
(0800) 3984 5677
Participants Dial In (Toll Free):
+1 (844) 450 3847
Participants International Dial In:
+1 (412) 317 6370
Webcast: click here
Webcast Replay:click here
Available from November 12 through November 26, 2019
IR Contact in Buenos Aires:
Jorge Scarinci | Chief Financial Officer
Nicolás A. Torres|Investor Relations
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.