BUENOS AIRES, Argentina, May 23, 2022 /PRNewswire/ -- 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, 2022 ("1Q22"). 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 2021 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through March 31, 2022.
- The Bank's net income totaled Ps.6 billion in 1Q22. This result was 51% lower than the result posted in 4Q21 but 77% higher than the result registered in 1Q21. In 1Q22, the annualized return on average equity ("ROAE") and the annualized return on average assets ("ROAA") were 9% and 2.2%, respectively. Total comprehensive income was Ps.5.4 billion, 56% lower than in 4Q21 but 26% higher than a year ago.
- In 1Q22 Operating Income (after G&A and personnel expenses) totaled Ps.36.6 billion, 41% or Ps.10.6 billion higher than in 4Q21 and 24% or Ps.7.2 billion higher than the same period of last year.
- In 1Q22, Banco Macro's financing to the private sector decreased 8% or Ps.33.3 billion quarter over quarter ("QoQ") totaling Ps.371.8 billion and decreased 8% or Ps.30.5 billion year over year ("YoY").
- In 1Q22, Banco Macro's total deposits decreased 1% or Ps.5.9 billion QoQ, totaling Ps.677.5billion and representing 79% of the Bank's total liabilities. Private sector deposits decreased 3% or Ps.19.2 billion QoQ.
- Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.236.6 billion, 38.5% regulatory capital ratio – Basel III and 33.7% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 93% of its total deposits in 1Q22.
- In 1Q22, the Bank's non-performing to total financing ratio was 1.64% and the coverage ratio reached 163.2%.
1Q22 Earnings Release Conference Call
Tuesday, May 24, 2022
Time: 11:00 a.m. Eastern Time | 12:00 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 05/24/2022 through 06/07/2022
IR Contacts in Buenos Aires:
Chief Financial Officer
Nicolás A. Torres
Phone: (54 11) 5222 6682
Visit our website at: www.macro.com.ar/relaciones-inversores
SOURCE Banco Macro S.A.