BUENOS AIRES, Aug. 31, 2020 /PRNewswire/ -- Banco Macro S.A.
(NYSE: BMA; BYMA: BMA) ("Banco Macro" or "BMA" or the "Bank")
announced today its results for the first quarter ended
June 30, 2020 ("2Q20"). All
figures are in Argentine pesos (Ps.) and have been restated in
terms of the measuring unit current at the end of the reporting
period. As of 1Q20, the Bank began reporting results applying
Hyperinflation Accounting, in accordance with IFRS IAS 29 as
established by the Central Bank. For ease of comparison, figures of
previous quarters of 2019 have been restated applying IAS 29 to
reflect the accumulated effect of the inflation adjustment for each
period through June 30, 2020.
Summary
- The Bank's net income totaled Ps.6.4 billion in
2Q20. This result was 14% lower than the result posted
in 1Q20 and 111% higher than in 2Q19. In 2Q20, the accumulated
annualized return on average equity ("ROAE") and the accumulated
annualized return on average assets ("ROAA") were 23% and 5.2%,
respectively.
- In 2Q20, Banco Macro's financing to the private sector
decreased 5% or Ps.12.2 billion quarter over quarter ("QoQ")
totaling Ps.219.4 billion and 12% or Ps.30.4 billion year over year
("YoY"). In the quarter commercial loans stand out, among which
Others stand out; with a 58% increase QoQ, mainly
driven by the 24% loans to SMEs.
- In 2Q20, Banco Macro's total deposits increased 24% or Ps.78
billion QoQ, totaling Ps.406 billion and representing 80% of the
Bank's total liabilities. Private sector deposits increased 16% or
Ps.47 billion QoQ.
- Banco Macro continued showing a strong solvency ratio, with
an excess capital of Ps.101.8 billion, 32.1% regulatory capital
ratio – Basel III and 25% Tier 1 Ratio. In addition, the Bank's
liquid assets remained at an adequate level, reaching 54% of its
total deposits in 2Q20.
- As of 2Q20, the accumulated efficiency ratio reached 41.6%,
deteriorating from the 39.8% posted in 1Q20.
- In 2Q20, the Bank's non-performing to total financing ratio
was 1.52% and the coverage ratio improved to 210%.
2Q20 Earnings Release Conference Call
Tuesday, September 1, 2020
Time: 11:00 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 09/01/2020 through
09/15/2020
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
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SOURCE Banco Macro S.A.