Banco Macro Announces Results for the Second Quarter of 2019
BUENOS AIRES, Argentina, Aug. 7, 2019 /PRNewswire/ -- 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 billionposted 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%.
Earnings Release Conference Call
Thursday, August 8, 2019 Time: 12:00 p.m. Eastern Time | 1:00 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
IR Contacts in Buenos Aires: Jorge Scarinci Chief Financial Officer Nicolás A. Torres Investor Relations Phone: (54 11) 5222 6682 E-mail: [email protected]
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