Banco Macro announces Results for the 4Q 2020
10 mar 2021
Buenos Aires, Argentina, March 10, 2021 – Banco Macro S.A. (NYSE: BMA; BYMA: BMA) (“Banco Macro” or “BMA” or the “Bank”) announced today its results for the fourth quarter ended December 31, 2020 (“4Q20”). 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 January 2020, 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 and 2020 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through December 31, 2020.
Summary
• The Bank’s net income totaled Ps.6.1 billion in 4Q20. This result was 2% higher than the result posted in 3Q20 and 11% lower than in 4Q19. In 4Q20, the accumulated annualized return on average equity (“ROAE”) and the accumulated annualized return on average assets (“ROAA”) were 20.9% and 4.3%, respectively. Net Income for FY2020 totaled Ps.30.3 billion, 14% higher than the Ps.26.5 posted in FY2019. Total Comprehensive Income for FY2020 totaled Ps.25.3 billion, 5% lower than in FY2019.
•In 4Q20, Banco Macro’s financing to the private sector decreased 2% or Ps.6.1 billion quarter over quarter (“QoQ”) totaling Ps.252.5 billion and 13% or Ps.36.7 billion year over year (“YoY”). In the quarter, within consumer loans, Credit card loans stood out; with a 9% increase QoQ, meanwhile within commercial loans Documents stood out with a 10% increase QoQ, mainly driven by loans to SMEs.
•In 4Q20, Banco Macro’s total deposits decreased 11% or Ps.59.8 billion QoQ, totaling Ps.488.7 billion and representing 79% of the Bank’s total liabilities. Private sector deposits decrased 4% or Ps.15.9 billion QoQ. In FY2020, within private sector deposits, both time and demand deposits increased 41% and 14% respectively YoY.
•Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.132.1 billion, 34.2% regulatory capital ratio – Basel III and 27.1% Tier 1 Ratio. In addition, the Bank’s liquid assets remained at an adequate level, reaching 90% of its total deposits in 4Q20.
• In 4Q20, the Bank’s non-performing to total financing ratio was 0.78% and the coverage ratio improved to 479.2%.
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.
For a full version of this press release, please click here
Para una versión en español de este press release haga click aqui
Para una versión en español de este press release haga click aqui
Quarterly Conference Call
Thursday, March 11, 2021
Time: 11:00 a.m. Eastern Time | 1:00 p.m. Buenos Aires Time
Time: 11:00 a.m. Eastern Time | 1:00 p.m. Buenos Aires Time
To participate, please dial
Argentine Participants: (0800) 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
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 March 11 through March 25, 2021
Available from March 11 through March 25, 2021
IR Contact in Buenos Aires:
Jorge Scarinci | Chief Financial Officer
Nicolás A. Torres|Investor Relations
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 futher information access www.macro.com.ar/relaciones-inversoresBanco 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.