Banco Macro Announces Results for the Third Quarter of 2021
11/24/2021 - 05:25 PM
BUENOS AIRES, Argentina , Nov. 24, 2021 /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, 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 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 2020 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through September 30, 2021 .
Summary
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% . 3Q21 Earnings Release Conference Call
Monday, November 29, 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: Argentina Toll Free : (011) 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 11/29/2021 through 12/13/2021
IR Contacts in Buenos Aires :
Jorge Scarinci Chief Financial Officer
Nicolás A. Torres Investor Relations Phone: (54 11) 5222 6682 E-mail: investorelations@macro.com.ar
Visit our website at: www.macro.com.ar/relaciones-inversores
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SOURCE Banco Macro S.A.
BMA Rankings
#645 Ranked by Stock Gains
BMA Stock Data
Industry
Commercial Banking
Sector
Finance and Insurance
Tags
Finance, Regional Banks, Finance and Insurance, Commercial Banking
Country
Argentina
City
Zona Norte
About BMA
Banco Macro is the second largest domestically-owned private bank in Argentina, and the sixth-largest by deposits and lending.