Buenos Aires, Argentina, May 27, 2021 - Banco Macro S.A. (NYSE: BMA; BYMA: BMA) ('Banco Macro' or 'BMA' or the 'Bank') announced today its results for the first quarter ended March 31, 2021 ('1Q21'). 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 January 2020, 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 2019 and 2020 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through March 31, 2021.
• The Bank's net income totaled Ps.2.2 billion in 1Q21. This result was 39% lower than the result posted in 4Q20 and 77% lower than in 4Q19. In 1Q21, the annualized return on average equity ('ROAE') and the annualized return on average assets ('ROAA') were 5.4% and 1.1%, respectively.
•Operating income (after G&A and personnel expenses) was Ps.18.9 billion in 1Q21, 16% or Ps.2.6 billion higher than in 4Q20 and 19% or Ps.4.5 billion lower than a year ago.
•In 1Q21, Banco Macro's financing to the private sector decreased 9% or Ps.25.8 billion quarter over quarter ('QoQ') totaling Ps.259.4 billion and 17% or Ps.54.1. billion year over year ('YoY').
•In 1Q21, Banco Macro's total deposits decreased 17% or Ps.94.8 billion QoQ, totaling Ps.457.3 billion and representing 77% of the Bank's total liabilities. Private sector deposits decrased 14% or Ps.66.9 billion QoQ.
•Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.157.4 billion, 37.7% regulatory capital ratio - Basel III and 30.3% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 94% of its total deposits in 1Q21.
•In 1Q21, the efficiency ratio reached 35.7%, improving from the 38.8% posted in 4Q20 and higher than the 31.1% posted a year ago.
• In 4Q20, the Bank's non-performing to total financing ratio was 0.78% and the coverage ratio improved to 479.2%.
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
Friday, May 28, 2021
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
To participate, please dial
(0800) 3984 5677
Participants Dial In (Toll Free):
+1 (844) 450 3847
Participants International Dial In:
+1 (412) 317 6370
Webcast Replay:click here
Available from May 28 through June 11, 2021
IR Contact in Buenos Aires:
Jorge Scarinci | Chief Financial Officer
Nicolás A. Torres|Investor Relations
Banco Macro S.A (NYSE: BMA; BYMA: 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.
For further information access www.macro.com.ar/relaciones-inversores