BUENOS AIRES, Argentina, May 10, 2017 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BCBA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the first quarter ended March 31, 2017 ("1Q17"). All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP.
- The Bank's net income totaled Ps.1.8 billion in 1Q17. This result was 4% higher than the Ps.1.7 billion posted in the fourth quarter of 2016 ("4Q16") and 25% higher than a year ago. In 1Q17, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 30.5% and 4.6%, respectively.
- In 1Q17, Banco Macro's financing to the private sector grew 8% or Ps.7.0 billion quarter over quarter ("QoQ") totaling Ps.93.9 billion and increased 50% or Ps.31.3 billion year over year ("YoY"). In the quarter, growth was driven by commercial loans, among which Overdraft and Others stand out, which grew 16% and 12% QoQ, respectively. Meanwhile within consumer loans, personal loans and credit cards rose 12% and 4% QoQ, respectively. As of March 2017, the "Credit Line for Productive Financing and Financial Inclusion", totaled Ps. 2.9 billion.
- In 1Q17, Banco Macro's total deposits grew 3% QoQ, totaling Ps.115.2 billion and representing 80% of the Bank's total liabilities. Private sector deposits were unchanged QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.18.8 billion (22.7% regulatory capitalization ratio – Basel III). In addition, the Bank's liquid assets remained at an adequate level, reaching 44.7% of its total deposits in 1Q17.
- In 1Q17, the Bank's non-performing to total financing ratio was 1.35% and the coverage ratio reached 155.94%.
Thursday, May 11, 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
Available from 05/11/2017 through 05/25/2017
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
Phone: (54 11) 5222 6682
E-mail: [email protected]
Visit our website at: www.ri-macro.com.ar
SOURCE Banco Macro S.A.