Banco Macro Announces Results for the Third Quarter of 2022

Nov 23rd, 2022 17:34 EST

BUENOS AIRES, Nov. 23, 2022 /PRNewswire/ -- 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, 2022 ("3Q22").  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 September 30, 2022.

Summary

  • The Bank's net income totaled Ps.8.9 billion in 3Q22. This result was 76% higher than the Ps.5.5 billion posted in 2Q22 and 34% lower than the result registered in 3Q21. As of 3Q22, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 7.7% and 1.9%, respectively.
  • In 3Q22 Net Operating Income (before G&A and personnel expenses) totaled Ps.121.6 billion, 22% or Ps.22.2 billion higher than in 2Q22 and 54% or Ps.42.6 billion higher than the same period of last year.
  • In 3Q22 Operating Income (after G&A and personnel expenses) totaled Ps.75.1 billion, 39% or Ps.20.1 billion higher than in 2Q22 and 101% or Ps.37.7 billion higher than the same period of last year.
  • In 3Q22, Banco Macro's financing to the private sector decreased 7% or Ps.37.2 billion quarter over quarter ("QoQ") totaling Ps.506.8 billion and decreased 9% or Ps.53.1 billion year over year ("YoY").
  • In 3Q22, Banco Macro's total deposits increased 7% or Ps.77.7 billion QoQ, totaling Ps.1.1 trillion and representing 84% of the Bank's total liabilities. Private sector deposits increased 5% or Ps.45.3 billion QoQ.
  • Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.351.9 billion, 40.4% regulatory capital ratio – Basel III and 36.1% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 90% of its total deposits in 3Q22.
  • In 3Q22, the Bank's non-performing to total financing ratio was 1.27% and the coverage ratio reached 153.13%.

3Q22 Earnings Release Conference Call

Monday, November 28, 2022 Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time

To participate, please dial:Argentina Toll Free: (011) 3984 5677Participants Dial In (Toll Free): +1 (844) 450 3847Participants International Dial In: +1 (412) 317 6370Conference ID: Banco MacroWebcast: click here

Webcast Replay:  click hereAvailable from 11/28/2022 through 12/12/2022

IR Contacts in Buenos Aires:

Jorge ScarinciChief Financial Officer

Nicolás A. TorresInvestor Relations

Phone: (54 11) 5222 6682E-mail: [email protected]

Visit our website at: www.macro.com.ar/relaciones-inversores

SOURCE Banco Macro S.A.

SHARE

You must be logged in to post a comment.

Related Recent Publications

You must be logged in to post a comment.

Email newsletter

Receive the latest stock news and signals