Banco Macro announces Results for the First Quarter of 2018

15 may 2018

Buenos Aires, Argentina, May 16, 2018 - Banco Macro S.A. (NYSE: BMA; BCBA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the first quarter ended March 31, 2018 ("1Q18"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.

This is the first quarterly release under Communication "A! 6114 of the Central Bank of Argentina, convergence of accouting standards to IFRS- International Financial Reporting Standards.

  • The Bank’s net income totaled Ps.3.6 billion in 1Q18.This result was 17% higher than the Ps.3 billionposted in the fourth quarter of 2017 ("4Q17") and 77% higher than a year ago. In 1Q18, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 29.4% and 6.2%, respectively.
  • In 1Q18, Banco Macro’s financing to the private sector grew 10% or Ps.13.4 billion quarter over quarter ("QoQ") totaling Ps.142.2 billion and increased 52% or Ps.48.5 billion year over year ("YoY"). In the quarter, growth was driven by commercial loans, among which Overdrafts and Others stand out, which grew 36% and 11% QoQ, respectively. Meanwhile within consumer loans, mortgage loans, personal loans and credit cards rose 27%, 9% and 6% QoQ, respectively.
  • In 1Q18, the accumulated efficiency ratio reached 38.8%, better than the 43.3% posted in 4Q17 and the 45.4% in 1Q17. Net fee income over administrative expenses was 54%, higher than the 50.5% registered in 4Q17.
  • In 1Q18, Banco Macro’s total deposits grew 4% QoQ, totaling Ps.149.5 billion and representing 82% of the Bank’s total liabilities. Private sector deposits grew 3% QoQ.
  • Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.37.6 billion and 27.3% regulatory capital ratio - Basel III. In addition, the Bank’s liquid assets remained at an adequate level, reaching 44.9% of its total deposits in 1Q18.
  • In 1Q18, the Bank’s non-performing to total financing ratio was 1.1% and the coverage ratio reached 178.68%.

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Quarterly Conference Call
Wednesday, May 16, 2018
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time

To participate, please dial

Argentine Participants: (0800) 444 2930
Participants Dial In (Toll Free): +1 (844) 839 2185
Participants International Dial In: +1 (412) 317 2506
Conference ID: Banco Macro

The conference call will have the presence of Jorge Pablo Brito (Vice Chairman of the Board of Directors), Gustavo Manriquez (Chief Executive Officer) and Jorge Scarinci (Chief Financial Officer)

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