Banco Macro announces Results for the Third Quarter of 2021
24 nov 2021
Buenos Aires, Argentina, November 24, 2021 – Banco Macro S.A. (NYSE: BMA; BYMA: BMA) (“Banco Macro” or “BMA” or the “Bank”) announced today its results for the third quarter ended September 30, 2021 (“3Q21”). 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 2020 and 2021 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through September 30, 2021.
• The Bank’s net income totaled Ps.7.4 billion in 3Q21. This result was 46% higher than the result posted in 2Q21 and similar to the one registered in 2Q20. In 3Q21, the accumulated annualized return on average equity (“ROAE”) and the annualized return on average assets (“ROAA”) were 10% and 2.2%, respectively. Total comprehensive income was Ps.7.4 billion, 40% higher than in 2Q21 and 13% lower than a year ago.
• In 3Q21, Banco Macro’s financing to the private sector increased 5% or Ps.13.3 billion quarter over quarter (“QoQ”) totaling Ps.305.9 billion and decreased 14% or Ps.48.2. billion year over year (“YoY”). Within commercial lending Overdrafts and Others stand out with a 14% and 26% increase respectively; meanwhile within consumer lending pledged loans and credit card loans stand out with a 46% and 3% increase respectively.
• In 3Q21, Banco Macro’s total deposits increased 1% or Ps.4.1 billion QoQ, totaling Ps.542.1 billion and representing 78% of the Bank’s total liabilities. Private sector deposits increased 1% or Ps.6.6 billion QoQ.
• Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.183 billion, 37.2% regulatory capital ratio – Basel III and 30.4% Tier 1 Ratio. In addition, the Bank’s liquid assets remained at an adequate level, reaching 90% of its total deposits in 3Q21.
• In 3Q21, the Bank’s non-performing to total financing ratio was 1.67% and the coverage ratio reached 175.9%
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.
Quarterly Conference Call
Monday, November 29, 2021
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
Webcast Replay: click here
Available from November 29 through December 13, 2021
IR Contact in Buenos Aires:
Jorge Scarinci | Chief Financial Officer
Nicolás A. Torres|Investor Relations
E-mail: firstname.lastname@example.org | Phone: (5411) 5222 6682
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.