BUENOS AIRES, Argentina,
June 8, 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
March 31, 2020 ("1Q20"). 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 March 31, 2020.
Summary
- The Bank's net income totaled Ps.7.1 billion in
1Q20. This result was 15% higher than the result
posted in 4Q19 and 80% higher than in 1Q19. In 1Q20, the
accumulated annualized return on average equity ("ROAE") and the
accumulated annualized return on average assets ("ROAA") were 27.3%
and 4.9%, respectively.
- In 1Q20, Banco Macro's net monetary position resulted in a
Ps.295 million gain, improving from the Ps.5.1 billion loss posted
in 4Q19 and lower than the Ps.3.2 billion gain registered in
1Q19.
- In 1Q20, Banco Macro's financing to the private sector
decreased 4% or Ps.9.2 billion quarter over quarter ("QoQ")
totaling Ps.219.8 billion and 15% or Ps.38.7 billion year over year
("YoY"). In the quarter commercial loans stand out, among which
Documents and Others stand out; with a 8% and a 14%
increase respectively QoQ.
- In 1Q20, Banco Macro's total deposits increased 10% or
Ps.27.9 billion QoQ, totaling Ps.311.3 billion and representing 80%
of the Bank's total liabilities. Private sector deposits increased
7% or Ps.19.6 billion QoQ.
- Banco Macro continued showing a strong solvency ratio, with
an excess capital of Ps.96.4 billion, 32% regulatory capital ratio
– Basel III and 25.4% Tier 1 Ratio. In addition, the Bank's liquid
assets remained at an adequate level, reaching 66% of its total
deposits in 1Q20.
- As of 1Q20, the efficiency ratio reached 39.8%,
deteriorating from the 35.5% posted in 4Q19.
- In 1Q20, the Bank's non-performing to total financing ratio
was 1.36% and the coverage ratio reached
173.49%.
1Q20 Earnings Release Conference Call
Tuesday, June 9, 2020
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 02/20/2020 through
03/05/2020
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.