Banco Macro S A : announces Results for the Third Quarter of 2019

Banco Macro announces Results for the Third Quarter of 2019

08 nov 2019

Buenos Aires, Argentina, November 8, 2019 - Banco Macro S.A. (NYSE: BMA; BCBA: BMA) ('Banco Macro' or 'BMA' or the 'Bank') announced today its results for the third quarter ended September 30, 2019 ('3Q19'). All figures are in Argentine pesos (Ps.)

Summary

• The Bank's net income totaled Ps.13.2 billion in 3Q19. This result was 87% higher than the Ps.7 billion posted in 2Q19 and 243% higher than in 3Q18. In 3Q19, the accumulated annualized return on average equity ('ROAE') and the accumulated annualized return on average assets ('ROAA') were 57.3% and 9.4%, respectively. In 3Q19 Recurring Net Income totaled Ps.15.5 billion increasing 99% or Ps.7.7 billion compared with the previous quarter.
  
• In 3Q19, Banco Macro's financing to the private sector grew 10% or Ps.18.1 billion quarter over quarter ('QoQ') totaling Ps.192.8 billion and increased 15% or Ps.24.5 billion year over year ('YoY'). In the quarter, growth was driven by commercial loans, among which Overdrafts stand out, with a 78% increase QoQ. Meanwhile within consumer loans, credit card loans increased 12% QoQ.
  
• In 3Q19, Banco Macro's total deposits decreased 9% or Ps.25.1 billion QoQ, totaling Ps.259.2 billion and representing 79% of the Bank's total liabilities. Private sector deposits decreased 8% or Ps.22 billion QoQ.
  
• Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.60.0 billion, 26.5% regulatory capital ratio - Basel III and 18.9% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 61% of its total deposits in 3Q19.
  
• As of 3Q19, the efficiency ratio reached 32.5%, improving from the 37.6% posted in 3Q18.
  
• In 3Q19, the Bank's non-performing to total financing ratio was 1.9% and the coverage ratio reached 124.16%.

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.

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Quarterly Conference Call

Tuesday, November 12, 2019
Time: 10:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time

To participate, please dial

Argentine Participants:
[phone]
Participants Dial In (Toll Free): [phone]
Participants International Dial In: [phone]
Conference ID: Banco Macro
Webcast: click here

Webcast Replay:click here
Available from November 12 through November 26, 2019

IR Contact in Buenos Aires:
Jorge Scarinci | Chief Financial Officer
Nicolás A. Torres|Investor Relations

About
Banco Macro S.A (NYSE: BMA; BCBA: 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.