Banco Macro Announces Results for the Third Quarter of 2024

PR Newswire

BUENOS AIRES, Argentina, Nov. 27, 2024

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: investorelations@macro.com.ar

Visit our website at: www.macro.com.ar/relaciones-inversores

View original content:https://www.prnewswire.com/news-releases/banco-macro-announces-results-for-the-third-quarter-of-2024-302317902.html

SOURCE Banco Macro S.A.

(END) Dow Jones Newswires

November 27, 2024 17:24 ET (22:24 GMT)