BUENOS AIRES, Argentina, May 9, 2019 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BCBA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the first quarter ended March 31, 2019 ("1Q19"). All figures are in Argentine pesos (Ps.)
- The Bank's net income totaled Ps.7.3 billion in 1Q19. This result was 40% higher than the Ps.5.2 billion posted in 4Q18 and 106% higher than in 1Q18. In 1Q19, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 50 % and 8.4%, respectively.
- In 1Q19, Banco Macro's financing to the private sector grew 1% or Ps.1.1 billion quarter over quarter ("QoQ") totaling Ps.173 billion and increased 21% or Ps.30.6 billion year over year ("YoY"). In the quarter, growth was driven by commercial loans, among which Documents and Others stand out, with a 9% and 17% increase QoQ. Meanwhile within consumer loans, personal loans rose 1% QoQ.
- In 1Q19, the efficiency ratio reached 28.6%, improving from the 39.7% posted in 4Q18 and the 35.6% in 1Q18.
- In 1Q19, Banco Macro's total deposits grew 15% QoQ, totaling Ps.272.6 billion and representing 83% of the Bank's total liabilities. Private sector deposits grew 12% QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.52.1 billion 27.7% regulatory capital ratio – Basel III and 20.6% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 66% of its total deposits in 1Q19.
- In 1Q19, the Bank's non-performing to total financing ratio was 2.0% and the coverage ratio reached 119.2%.
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.
1Q19 Earnings Release Conference Call
Friday, May 10, 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
Webcast Replay: click here
Available from 05/10/2019 through 05/24/2019
With the presence of: Jorge Pablo Brito (Vice Chairman), Gustavo Manriquez (CEO) and Jorge Scarinci (CFO).
IR Contacts in Buenos Aires:
Chief Financial Officer
Nicolás A. Torres
Phone: (54 11) 5222 6682
Visit our website at: www.macro.com.ar/relaciones-inversores