Banco Macro Announces Results for the Third Quarter of 2022

BUENOS AIRES, Nov. 23, 2022 /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, 2022 ("3Q22"). 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 2022 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through September 30, 2022.

Summary

The Bank's net income totaled Ps.8.9 billion in 3Q22. This result was 76% higher than the Ps.5.5 billion posted in 2Q22 and 34% lower than the result registered in 3Q21. As of 3Q22, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 7.7% and 1.9%, respectively.
In 3Q22 Net Operating Income (before G&A and personnel expenses) totaled Ps.121.6 billion, 22% or Ps.22.2 billion higher than in 2Q22 and 54% or Ps.42.6 billion higher than the same period of last year.
In 3Q22 Operating Income (after G&A and personnel expenses) totaled Ps.75.1 billion, 39% or Ps.20.1 billion higher than in 2Q22 and 101% or Ps.37.7 billion higher than the same period of last year.
In 3Q22, Banco Macro's financing to the private sector decreased 7% or Ps.37.2 billion quarter over quarter ("QoQ") totaling Ps.506.8 billion and decreased 9% or Ps.53.1 billion year over year ("YoY").
In 3Q22, Banco Macro's total deposits increased 7% or Ps.77.7 billion QoQ, totaling Ps.1.1 trillion and representing 84% of the Bank's total liabilities. Private sector deposits increased 5% or Ps.45.3 billion QoQ.
Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.351.9 billion, 40.4% regulatory capital ratio – Basel III and 36.1% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 90% of its total deposits in 3Q22.
In 3Q22, the Bank's non-performing to total financing ratio was 1.27% and the coverage ratio reached 153.13%.

3Q22 Earnings Release Conference Call

Monday, November 28, 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