BUENOS AIRES, Argentina, Nov. 27, 2024 /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, 2024 ("3Q24"). 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. For ease of comparison, figures of previous quarters of 2023 and 2024 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through September 30, 2024.
Summary
- THE BANK'S NET INCOME totaled Ps.91.3 billion in 3Q24. This result was 293% or Ps.68.1 billion higher than in 3Q23. In 3Q24, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 6.8% and 2.1%, respectively.
- In 3Q24, OPERATING INCOME (before G&A and personnel expenses) totaled Ps.829.2 billion, 61% or Ps.313 billion higher than in 2Q24 and 25% or Ps.272.3 lower than 3Q24.
- In 3Q24, OPERATING INCOME (after G&A and personnel expenses) totaled Ps.403.7 billion, 263% or Ps.292.6 billion higher than in 2Q24 and 44% or Ps.322.5 billion lower than the same period of last year.
- In 3Q24, BANCO MACRO'S TOTAL FINANCING increased 17% or Ps.657.9 billion quarter over quarter ("QoQ") totaling Ps.4.55 trillion and increased 28% or Ps.988 billion year over year ("YoY"). In 3Q24 peso financing increased 19% while USD financing decreased 1%.
- In 3Q24, BANCO MACRO'S TOTAL DEPOSITS increased 7% or Ps.516 billion QoQ and increased 30% or Ps.1.9 trillion YoY, totaling Ps.8.1 trillion and representing 76% of the Bank's total liabilities. Private sector deposits increased 6% or Ps.401.8 billion QoQ. In 3Q24, Peso deposits decreased 15% while USD deposits increased 87%.
- Banco Macro continued showing a strong solvency ratio, with an EXCESS CAPITAL of Ps.2.5 trillion, 32.8% Capital Adequacy Ratio – Basel III and 32.8 % Tier 1 Ratio. In addition, the Bank's LIQUID ASSETS remained at an adequate level, reaching 91% of its total deposits in 3Q24.
- In 3Q24, the Bank's NON-PERFORMING TO TOTAL FINANCING RATIO was 1.15% and the COVERAGE RATIO reached 177.6%.
- As of 3Q24, through its 515 branches and 9.109 employees Banco Macro serves 5.24 million retail customers (2.21 million digital customers) across 23 of the 24 Provinces in Argentina and over 161,180 corporate customers.
3Q24 Earnings Release Conference Call
Monday, December 2, 2024
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 12/02/2024 through 09/06/2024
IR Contacts in Buenos Aires:
Jorge Scarinci
Chief Financial Officer
Nicolás A. Torres
Investor Relations
Phone: (54 11) 5222 6682
E-mail: [email protected]
Visit our website at: www.macro.com.ar/relaciones-inversores
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SOURCE Banco Macro S.A.