Banco Macro Announces Results for the Fourth Quarter of 2021

Rhea-AI Summary

Banco Macro S.A. (NYSE: BMA) reported a net income of Ps.10.5 billion for 4Q21, a 30% increase from 3Q21 and a 120% rise from 4Q20. However, net income for FY2021 was down 26% at Ps.27.1 billion compared to FY2020. The bank's total deposits fell 1% quarter-over-quarter, while financing to the private sector increased by 4%. With a strong solvency ratio of 36.1% regulatory capital, Banco Macro's non-performing loans ratio stood at 1.3%, indicating robust asset quality.

Positive

• Net income for 4Q21 reached Ps.10.5 billion, up 30% QoQ and 120% YoY.
• Private sector financing increased 4% QoQ to Ps.349 billion.
• Solvency ratio of 36.1% with excess capital of Ps.197.8 billion.

Negative

• Net income for FY2021 decreased 26% to Ps.27.1 billion compared to FY2020.
• Total deposits decreased by 1% QoQ and both time and demand deposits dropped 24% and 7% YoY.

BUENOS AIRES, Argentina, Feb. 23, 2022 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BYMA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the fourth quarter ended December 31, 2021 ("4Q21").  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 2020 and 2021 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through December 31, 2021.

Summary

• The Bank's net income totaled Ps.10.5 billion in 4Q21. This result was 30% higher than the Ps.8.1 billion posted in 3Q21 and 120% higher than in 4Q20. In 4Q21, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 12.2% and 2.8%, respectively.  Net Income for FY2021 totaled Ps.27.1 billion, 26% lower than the Ps.36.8 posted in FY2020. Total Comprehensive Income for FY2021 totaled Ps.28.3 billion, 26% lower than in FY2020. 
• In 4Q21, Banco Macro's financing to the private sector increased 4% or Ps.11.9 billion quarter over quarter ("QoQ") totaling Ps.349 billion and decreased 8% or Ps.32.1 billion year over year ("YoY"). In the quarter, within consumer loans, Credit card loans stood out; with a 9% increase QoQ, meanwhile within commercial loans Overdrafts stood out with an 8% increase QoQ. In FY2021 Pledged loans stood out with a 49% increase.
• In 4Q21, Banco Macro's total deposits decreased 1% or Ps.8.7 billion QoQ, totaling Ps.588.9 billion and representing 78% of the Bank's total liabilities. Private sector deposits decreased 1% or Ps.5.7 billion QoQ. In FY2021, within private sector deposits, both time and demand deposits decreased 24% and 7% respectively YoY.
• Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.197.8 billion, 36.1% regulatory capital ratio – Basel III and 30.9% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 90% of its total deposits in 4Q21.
• In 4Q21, the Bank's non-performing to total financing ratio was 1.3% and the coverage ratio improved to 209.61%.  

4Q21 Earnings Release Conference Call

Thursday, February 24, 2022
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 02/24/2022 through 03/10/2022

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-fourth-quarter-of-2021-301489121.html

SOURCE Banco Macro S.A.

FAQ

What were Banco Macro's net income results for 4Q21?

Banco Macro reported a net income of Ps.10.5 billion for 4Q21, a 30% increase from 3Q21.

How did Banco Macro perform in FY2021 compared to FY2020?

In FY2021, Banco Macro's net income decreased 26% to Ps.27.1 billion compared to Ps.36.8 billion in FY2020.

What was the status of Banco Macro's deposits in 4Q21?

Banco Macro's total deposits decreased by 1% QoQ, totaling Ps.588.9 billion.

What is the regulatory capital ratio of Banco Macro?

Banco Macro reported a regulatory capital ratio of 36.1% as of 4Q21.

What is the non-performing loans ratio for Banco Macro in 4Q21?

Banco Macro's non-performing to total financing ratio was 1.3% in 4Q21.