Banco Macro announces Results for the First Quarter of 2023 
 

Buenos Aires, Argentina, May 17, 2023 – 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, 2023 (“1Q23”).  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 2022 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through March 31, 2023.

Summary

• The Bank’s net income totaled Ps.9.8 billion in 1Q23. This result was 52% lower than the Ps.20.2 billion posted in 4Q22 and 20% lower than the Ps.12.3 billion posted in 1Q22. In 1Q23, the annualized return on average equity (“ROAE”) and the annualized return on average assets (“ROAA”) were 8.2% and 1.7%, respectively.

•In 1Q23 Operating Income (before G&A and personnel expenses) totaled Ps.167.8 billion, 5% or Ps.8 billion higher than in 4Q22 and 28% or Ps.36.7 billion higher than the same period of last year.

•In 1Q23 Operating Income (after G&A and personnel expenses) totaled Ps.104 billion, 9% or Ps.8.8 billion higher than in 4Q22 and 39% or Ps.29.3 billion higher than the same period of last year.

•In 1Q23, Banco Macro’s financing to the private sector decreased 4% or Ps.30 billion quarter over quarter (“QoQ”) totaling Ps.694.5 billion and decreased 8% or Ps.63.5 billion year over year (“YoY”).  

• In 1Q23, Banco Macro’s total deposits decreased 7% or Ps.112.6 billion QoQ and increased 6% or Ps.80.1 billion YoY, totaling Ps.1.5 trillion and representing 81% of the Bank’s total liabilities. Private sector deposits decreased 6% or Ps.89.7 billion QoQ.

•Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.520 billion, 42.4% regulatory capital ratio – Basel III and 39.1 % Tier 1 Ratio. In addition, the Bank’s liquid assets remained at an adequate level, reaching 97% of its total deposits in 1Q23. 

•In 1Q23, the Bank’s non-performing to total financing ratio was 1.41% and the coverage ratio remained stable at 145.33%. .

•As of 1Q23, through its 463 branches and 7.756 employees Banco Macro serves 4.6 million retail customers (1.7 million digital customers) across 23 of the 24 Provinces in Argentina and over 117,400 corporate customers.

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.

For a full version of this press release, please click here
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Quarterly Conference Call

Thursday, May 18, 2023 
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time

To participate, please dial

Argentine Participants: 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 May 18 through June 2, 2023

IR Contact in Buenos Aires:
Jorge Scarinci | Chief Financial Officer
Nicolás A. Torres|Investor Relations

E-mail: investorelations@macro.com.ar | Phone: (5411) 5222 6682

About 
Banco Macro S.A (NYSE: BMA; BYMA: BMA) is a universal bank, with focus in low & mid-income individuals and small & mid-sized companies. The Bank started operating in 1985 as non-banking financial institution and today has grown to be the private local bank with the largest branch network in the country.

For further information access www.macro.com.ar/relaciones-inversores