Welcome to our dedicated page for Banco Macro S.A. news (Ticker: BMA), a resource for investors and traders seeking the latest updates and insights on Banco Macro S.A. stock.
Banco Macro S.A. (symbol: BMA) stands as the second largest domestically-owned private bank in Argentina and ranks sixth by deposits and lending. The company is a key player in Argentina's banking sector, providing a wide range of financial products and services tailored to meet the needs of both retail and corporate customers.
Banco Macro's retail segment caters to individuals and entrepreneurs, offering services such as savings accounts, personal loans, and credit cards. On the corporate side, the bank supports small, medium, and large enterprises with business loans, corporate finance, and other essential banking services. Additionally, Banco Macro extends its services to four provincial governments, underscoring its significant role in the local financial ecosystem.
The bank generates the majority of its revenue from within Argentina, making it a crucial institution for the nation's economic landscape. Banco Macro has consistently demonstrated robust financial performance. For instance, the company recently reported its second quarter results for 2023, highlighting strong earnings despite the challenging economic environment in Argentina.
One of the significant recent developments includes Banco Macro's acquisition of Banco Itaú Argentina S.A., Itaú Asset Management S.A., and Itaú Valores S.A. from Itaú Unibanco Holding S.A. The transaction, valued at approximately US$50 million, is expected to enhance Banco Macro's market presence and expand its service offerings.
Banco Macro is committed to transparency and investor relations. It regularly publishes detailed financial statements and reports, as evidenced by its timely updates for quarters ending in 2023 and the first quarter of 2024. The bank ensures compliance with international accounting standards, restating figures to reflect the effects of inflation adjustments accurately.
For investors and stakeholders interested in the latest updates and performance metrics, Banco Macro holds regular earnings release conference calls. These events provide insights into the bank's financial health and future outlook.
Overall, Banco Macro S.A. is a steadfast institution in Argentina's banking sector, continually adapting and growing to meet the evolving needs of its diverse clientele.
Banco Macro S.A. (NYSE: BMA; BYMA: BMA) reported its results for the second quarter of 2024. Net income for the first half of 2024 was Ps.93.1 billion, a 55% decrease from the same period in 2023. The bank's ROAE and ROAA for 2Q24 were 5.4% and 1.7%, respectively. Operating income before expenses increased by 36% to Ps.2.38 trillion in 6M24, while after expenses it decreased by 85% to Ps.99.1 billion in 2Q24.
Total financing grew 17% QoQ to Ps.3.47 trillion, while total deposits increased 13% QoQ to Ps.6.74 trillion. The bank maintained a strong capital adequacy ratio of 35.7% and a Tier 1 ratio of 34%. Liquid assets covered 98% of total deposits. The non-performing loan ratio was 1.23% with a coverage ratio of 181.4%. Banco Macro serves 5.28 million retail customers and over 151,900 corporate customers through 515 branches across Argentina.
Banco Macro (NYSE: BMA; BYMA: BMA) reported its 1Q24 results, with net income at Ps.275.2 billion, a 61% drop from 4Q23 but a 626% increase from 1Q23. Operating income before G&A and personnel expenses was Ps.1.62 trillion, 19% lower QoQ, but 149% higher YoY.
After G&A and personnel expenses, operating income totaled Ps.1.25 trillion, a 20% decrease QoQ, but 211% higher YoY. Total financing decreased 10% QoQ and 8% YoY to Ps.2.5 trillion. Total deposits fell 1% QoQ and 11% YoY to Ps.5 trillion. Peso deposits increased 10% while USD deposits dropped 32%.
Banco Macro maintained strong solvency with Ps.2.6 trillion excess capital, a 46.5% Capital Adequacy Ratio, and a 44.5% Tier 1 Ratio. Non-performing to total financing ratio was 1.14%, with a coverage ratio of 222.7%.
Banco Macro S.A. announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the SEC. Shareholders can access the report online or request a hard copy for free. The press release also includes statements regarding potential future events that may differ from actual occurrences.
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