BUENOS AIRES, Argentina, Aug. 9, 2017 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BCBA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the second quarter ended June 30, 2017 ("2Q17"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
- The Bank's net income totaled Ps.2.0 billion in 2Q17. This result was 14% higher than the Ps.1.8 billion posted in the first quarter of 2017 ("1Q17") and 12% higher than a year ago. In 2Q17, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 30.7% and 4.7%, respectively.
- In 2Q17, Banco Macro's financing to the private sector grew 12% or Ps.11.3 billion quarter over quarter ("QoQ") totaling Ps.105.2 billion and increased 49% or Ps.34.5 billion year over year ("YoY"). In the quarter, growth was driven by commercial loans, among which Documents and Others stand out, which grew 15% and 30% QoQ, respectively. Meanwhile within consumer loans, personal loans and credit cards rose 12% and 5% QoQ, respectively.
- In 2Q17, the accumulated efficiency ratio reached 45.0%, lower than the 47.0% posted in 1Q17 and the 46.3% in 2Q16. Net fee income over administrative expenses was 57.7%, higher than the 56.2% registered in the previous quarter and the 53.4% in 2Q16.
- In 2Q17, Banco Macro's total deposits grew 7% QoQ, totaling Ps.123.7 billion and representing 81% of the Bank's total liabilities. Private sector deposits grew 10% QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.28.8 billion (post Primary Follow-On Equity Offering) and 26.3% regulatory capitalization ratio – Basel III) In addition, the Bank's liquid assets remained at an adequate level, reaching 53.2% of its total deposits in 2Q17.
- In 2Q17, the Bank's non-performing to total financing ratio was 1.27% and the coverage ratio reached 168.08%.
2Q17 Earnings Release Conference Call
Thursday, August 10, 2017
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
To participate, please dial:
Argentina Toll Free: (0800) 444 2930
Participants Dial In (Toll Free): +1 (844) 839 2185
Participants International Dial In:
+1 (412) 317 2506
Conference ID: Banco Macro
Webcast: click here
Webcast Replay: click here
Available from 08/10/2017 through 08/24/2017
With the presence of: Jorge Pablo Brito (Director), Gustavo Manriquez (General Manager) and Jorge Scarinci (Finance and IR Manager).
IR Contacts in Buenos Aires:
Finance & IR Manager
Nicolás A. Torres
Phone: (54 11) 5222 6682
Visit our website at: www.ri-macro.com.ar
SOURCE Banco Macro S.A.