BUENOS AIRES, Argentina, May 15, 2018 /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, 2018 ("1Q18"). All figures are in Argentine pesos (Ps.)
This is the first quarterly release under Communication "A" 6114 of the Central Bank of Argentina (Convergence of accounting standards to IFRS -International Financial Reporting Standards-)
- The Bank's net income totaled Ps.3.6 billion in 1Q18. This result was 17% higher than the Ps.3 billion posted in the fourth quarter of 2017 ("4Q17") and 77% higher than a year ago. In 1Q18, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 29.4% and 6.2%, respectively.
- In 1Q18, Banco Macro's financing to the private sector grew 10% or Ps.13.4 billion quarter over quarter ("QoQ") totaling Ps.142.2 billion and increased 52% or Ps.48.5 billion year over year ("YoY"). In the quarter, growth was driven by commercial loans, among which Overdrafts and Others stand out, which grew 36% and 11% QoQ, respectively. Meanwhile within consumer loans, mortgage loans, personal loans and credit cards rose 27%, 9% and 6% QoQ, respectively.
- In 1Q18, the accumulated efficiency ratio reached 38.8%, better than the 43.3% posted in 4Q17 and the 45.4% in 1Q17. Net fee income over administrative expenses was 54%, higher than the 50.5% registered in 4Q17.
- In 1Q18, Banco Macro's total deposits grew 4% QoQ, totaling Ps.149.5 billion and representing 82% of the Bank's total liabilities. Private sector deposits grew 3% QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.37.6 billion and 27.3% regulatory capital ratio – Basel III. In addition, the Bank's liquid assets remained at an adequate level, reaching 44.9% of its total deposits in 1Q18.
- In 1Q18, the Bank's non-performing to total financing ratio was 1.1% and the coverage ratio reached 178.68%.
IR Contact in Buenos Aires:
Jorge Scarinci - Chief Financial Officer
Nicolás A. Torres - Investor Relations
E-mail: [email protected] / Phone: (5411) 5222-6682
SOURCE Banco Macro S.A.