Banco Macro Announces Results for the Fourth Quarter of 2017
19 feb 2018
Buenos Aires, Argentina, February 19, 2018 - Banco Macro S.A. (NYSE: BMA; BCBA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the fourth quarter ended December 31, 2017 ("4Q17"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
- The Bank’s net income totaled Ps.3.01 billion in 4Q17. This result was 16% higher than the Ps.2.60 billion posted in the third quarter of 2017 ("3Q17") and 78% higher than the result posted in the fourth quarter of 2016 ("4Q16"). In 4Q17, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 28.6% and 5.2%, respectively. Net Income of Ps.9.39 billion in FY2017 was 44% higher than net income in FY2016.
- In 4Q17, Banco Macro’s financing to the private sector grew 10% or Ps.11.7 billion quarter over quarter ("QoQ") totaling Ps.129.1 billion and increased 49% or Ps. 42.2 billion year over year ("YoY"). In the quarter, growth was driven by commercial loans, among which Documents and Others stand out, which grew 20% and 10% QoQ, respectively. Meanwhile within consumer loans, mortgage loans, credit cards and personal loans rose 29% and 16% and 12% QoQ, respectively.
- In 4Q17, the accumulated efficiency ratio reached 42.5%, lower than the 43.2% posted in 3Q17 and the 47.5% in 4Q16. Net fee income over administrative expenses was 56.8%, higher than the 53.8% registered in 4Q16.
- In 4Q17, Banco Macro’s total deposits grew 6% QoQ, totaling Ps.144.2 billion and representing 80% of the Bank’s total liabilities. Private sector deposits grew 9% QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.35.1 billion and 28.1% regulatory capital ratio - Basel III. In addition, the Bank’s liquid assets remained at an adequate level, reaching 50.4% of its total deposits in 4Q17.
- In 4Q17, the Bank’s non-performing to total financing ratio was 1.07% and the coverage ratio reached 183.14%.
Quarterly Conference Call
Wednesday, February 21, 2018
Time: 11:00 a.m. Eastern Time | 1:00 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 (Member of the Board of Directors), Gustavo Manriquez (Chief Executive Officer) and Jorge Scarinci (Chief Financial Officer)