Banco Macro Announces Results for the Fourth Quarter of 2020

BUENOS AIRES, Argentina, March 10, 2021 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BYMA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the fourth quarter ended December 31, 2020 ("4Q20").  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 2019 and 2020 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through December 31, 2020.

Summary

  • The Bank's net income totaled Ps.6.1 billion in 4Q20. This result was 2% higher than the result posted in 3Q20 and 11% lower than in 4Q19. In 4Q20, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 20.9% and 4.3%, respectively. Net Income for FY2020 totaled Ps.30.3 billion, 14% higher than the Ps.26.5 posted in FY2019. Total Comprehensive Income for FY2020 totaled Ps.25.3 billion, 5% lower than in FY2019.

  • In 4Q20, Banco Macro's financing to the private sector decreased 2% or Ps.6.1 billion quarter over quarter ("QoQ") totaling Ps.252.5 billion and 13% or Ps.36.7 billion year over year ("YoY"). In the quarter, within consumer loans, Credit card loans stood out; with a 9% increase QoQ, meanwhile within commercial loans Documents stood out with a 10% increase QoQ, mainly driven by loans to SMEs.

  • In 4Q20, Banco Macro's total deposits decreased 11% or Ps.59.8 billion QoQ, totaling Ps.488.7 billion and representing 79% of the Bank's total liabilities. Private sector deposits decrased 4% or Ps.15.9 billion QoQ. In FY2020, within private sector deposits, both time and demand deposits increased 41% and 14% respectively YoY.

  • Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.132.1 billion, 34.2% regulatory capital ratio – Basel III and 27.1% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 90% of its total deposits in 4Q20.

  • In 4Q20, the Bank's non-performing to total financing ratio was 0.78% and the coverage ratio improved to 479.2%.

4Q20 Earnings Release Conference Call

Thursday, March 11, 2021
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 03/11/2021 through 03/25/2021

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 

Cision View original content:http://www.prnewswire.com/news-releases/banco-macro-announces-results-for-the-fourth-quarter-of-2020-301245077.html

SOURCE Banco Macro S.A.

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