BUENOS AIRES, Argentina, Aug. 22, 2018 /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, 2018 ("2Q18"). All figures are in Argentine pesos (Ps.)
As from FY2018 Banco Macro results are reported in accordance with Communication "A" 6114 of the Central Bank of Argentina (Convergence of accounting standards to IFRS -International Financial Reporting Standards-). Figures for FY2017 have been restated in accordance with IFRS and some items have been reclassified in order to make comparisons between periods possible.
- The Bank's net income totaled Ps.3.1 billion in 2Q18. This result was 40% higher than the Ps.2.2 billion posted a year ago. In 2Q18, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 27.2% and 5.7%, respectively.
- In 2Q18, Banco Macro's financing to the private sector grew 6% or Ps.8.9 billion quarter over quarter ("QoQ"), totaling Ps.151.3 billion, and increased 44% or Ps.46.3 billion year over year ("YoY"). In the quarter, growth was driven by commercial loans, among which Documents and Others stand out, which grew 7% and 9% QoQ, respectively. Meanwhile within consumer loans, mortgage loans, personal loans and credit cards rose 16%, 7% and 7% QoQ, respectively.
- In 2Q18, the accumulated efficiency ratio reached 42.4%, better than the 45% posted in 2Q17.
- In 2Q18, Banco Macro's total deposits grew 20% QoQ, totaling Ps.179.5 billion and representing 81% of the Bank's total liabilities. Private sector deposits grew 18% QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.41.5 billion, 27.6% regulatory capital ratio – Basel III and 21.5% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 52.3% of its total deposits in 2Q18.
- In 2Q18, the Bank's non-performing to total financing ratio was 1.38% and the coverage ratio reached 149.3%. Banco Macro continued showing outstanding asset quality metrics, with one of the lowest non-performing to total financing ratio in the industry.
2Q18 Earnings Release Conference Call
Thursday, August 23, 2018
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
To participate, please dial:
Webcast Replay: click here
Argentina Toll Free: (0800) 444 2930
Available from 08/23/2018 through 09/06/2018
Participants Dial In (Toll Free): +1 (844) 839-2185
Participants International Dial In: +1 (412) 317-2506
Conference ID: Banco Macro
Webcast: click here
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.ri-macro.com.ar