Banco Macro Announces Results for the Second Quarter of 2024
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 S.A. (NYSE: BMA; BYMA: BMA) ha riportato i risultati per il secondo trimestre del 2024. Il reddito netto per il primo semestre del 2024 è stato di 93,1 miliardi di Ps, con una diminuzione del 55% rispetto allo stesso periodo del 2023. Il ROAE e il ROAA della banca per il 2Q24 sono stati rispettivamente del 5,4% e 1,7%. Il reddito operativo prima delle spese è aumentato del 36% a 2,38 trilioni di Ps nel 6M24, mentre dopo le spese è diminuito dell'85% a 99,1 miliardi di Ps nel 2Q24.
Il finanziamento totale è cresciuto del 17% rispetto al trimestre precedente, raggiungendo 3,47 trilioni di Ps, mentre i depositi totali sono aumentati del 13% QoQ fino a 6,74 trilioni di Ps. La banca ha mantenuto un forte rapporto di adeguatezza patrimoniale del 35,7% e un rapporto Tier 1 del 34%. Gli attivi liquidi coprivano il 98% dei depositi totali. Il rapporto di prestiti in sofferenza era dell’1,23% con un rapporto di copertura del 181,4%. Banco Macro serve 5,28 milioni di clienti al dettaglio e oltre 151.900 clienti aziendali attraverso 515 filiali in tutta l'Argentina.
Banco Macro S.A. (NYSE: BMA; BYMA: BMA) ha publicado sus resultados para el segundo trimestre de 2024. El ingreso neto para la primera mitad de 2024 fue de 93,1 mil millones de Ps, una disminución del 55% en comparación con el mismo periodo de 2023. El ROAE y el ROAA del banco para el 2Q24 fueron del 5,4% y 1,7%, respectivamente. El ingreso operativo antes de gastos aumentó un 36% a 2,38 billones de Ps en el 6M24, mientras que después de los gastos disminuyó un 85% a 99,1 mil millones de Ps en el 2Q24.
El financiamiento total creció un 17% QoQ a 3,47 billones de Ps, mientras que los depósitos totales aumentaron un 13% QoQ a 6,74 billones de Ps. El banco mantuvo un fuerte coeficiente de adecuación de capital del 35,7% y un coeficiente Tier 1 del 34%. Los activos líquidos cubrieron el 98% de los depósitos totales. El ratio de préstamos en mora fue del 1,23% con un ratio de cobertura del 181,4%. Banco Macro atiende a 5,28 millones de clientes minoristas y más de 151,900 clientes corporativos a través de 515 sucursales en Argentina.
Banco Macro S.A. (NYSE: BMA; BYMA: BMA)는 2024년 2분기 결과를 발표했습니다. 순이익은 2024년 상반기 동안 931억 페소로, 2023년 같은 기간 대비 55% 감소했습니다. 은행의 ROAE와 ROAA는 2Q24에서 각각 5.4%와 1.7%를 기록했습니다. 운영 소득은 비용 이전에 36% 증가하여 6M24에서 2.38조 페소에 이르렀지만, 비용 이후에는 85% 감소하여 2Q24에서 991억 페소로 떨어졌습니다.
총 자산 대출은 전분기 대비 17% 증가하여 3.47조 페소에 도달했으며, 총 예금은 13% 증가하여 6.74조 페소에 이르렀습니다. 은행은 35.7%의 강력한 자본비율과 34%의 Tier 1 비율을 유지했습니다. 유동 자산은 총 예금의 98%를 커버했습니다. 부실채권 비율은 1.23%로, 커버리지 비율은 181.4%였습니다. Banco Macro는 아르헨티나 전역의 515개 지점을 통해 528만 명의 소매 고객과 151,900명의 기업 고객에게 서비스를 제공합니다.
Banco Macro S.A. (NYSE: BMA; BYMA: BMA) a publié ses résultats pour le deuxième trimestre de 2024. Le revenu net pour le premier semestre de 2024 était de 93,1 milliards de Ps, soit une diminution de 55 % par rapport à la même période en 2023. Le ROAE et le ROAA de la banque pour le 2Q24 étaient respectivement de 5,4 % et 1,7 %. Le revenu opérationnel avant les charges a augmenté de 36 % pour atteindre 2,38 billions de Ps au 6M24, tandis qu'après les charges, il a diminué de 85 % pour atteindre 99,1 milliards de Ps au 2Q24.
Le financement total a augmenté de 17 % par rapport au trimestre précédent, atteignant 3,47 billions de Ps, tandis que les dépôts totaux ont augmenté de 13 % pour atteindre 6,74 billions de Ps. La banque a maintenu un fort ratio de solvabilité de 35,7 % et un ratio Tier 1 de 34 %. Les actifs liquides couvraient 98 % des dépôts totaux. Le ratio de prêts non performants était de 1,23 % avec un ratio de couverture de 181,4 %. Banco Macro compte 5,28 millions de clients de détail et plus de 151 900 clients d'entreprise à travers 515 agences en Argentine.
Banco Macro S.A. (NYSE: BMA; BYMA: BMA) hat seine Ergebnisse für das zweite Quartal 2024 veröffentlicht. Der Nettogewinn für die erste Hälfte des Jahres 2024 betrug 93,1 Milliarden Ps, was einem Rückgang von 55% im Vergleich zum gleichen Zeitraum 2023 entspricht. Der ROAE und der ROAA der Bank für das 2Q24 lagen bei 5,4% bzw. 1,7%. Das Betriebsergebnis vor Abzug der Ausgaben stieg um 36% auf 2,38 Billionen Ps in 6M24, während es nach Abzug der Ausgaben um 85% auf 99,1 Milliarden Ps im 2Q24 sank.
Das Gesamtdarlehen wuchs im Quartalsvergleich um 17% auf 3,47 Billionen Ps, während die Gesamteinlagen um 13% auf 6,74 Billionen Ps zunahmen. Die Bank hielt eine starke Kapitaladäquanzquote von 35,7% und eine Tier 1-Quote von 34%. Die liquiden Mittel deckten 98% der Gesamteinlagen. Der Anteil notleidender Kredite betrug 1,23% bei einer Deckungsquote von 181,4%. Banco Macro bedient 5,28 Millionen Privatkunden und mehr als 151.900 Firmenkunden über 515 Filialen in ganz Argentinien.
- Operating income before expenses increased 36% to Ps.2.38 trillion in 6M24
- Total financing grew 17% QoQ to Ps.3.47 trillion
- Total deposits increased 13% QoQ to Ps.6.74 trillion
- Strong capital adequacy ratio of 35.7% and Tier 1 ratio of 34%
- Liquid assets covered 98% of total deposits
- Low non-performing loan ratio of 1.23% with a high coverage ratio of 181.4%
- Net income decreased 55% to Ps.93.1 billion in 6M24 compared to 6M23
- Operating income after expenses decreased 85% YoY to Ps.99.1 billion in 2Q24
- ROAE and ROAA declined to 5.4% and 1.7% respectively in 2Q24
- Total deposits decreased 5% YoY
Insights
Banco Macro's Q2 2024 results paint a mixed picture. The 55% YoY decline in net income to
The bank's total financing grew 17% QoQ, reaching
The low non-performing loan ratio of
Banco Macro's performance reflects the broader economic challenges in Argentina. The 17% increase in peso financing versus unchanged USD financing highlights the ongoing currency pressures. The
The bank's digital customer base of 2.24 million out of 5.28 million retail customers shows room for growth in digital adoption. This could be a key area for cost reduction and improved efficiency, especially given the 93% QoQ decrease in operating income after expenses.
The bank's presence in 23 out of 24 Argentine provinces provides diversification, but also exposes it to widespread economic risks. Investors should closely monitor Argentina's macroeconomic indicators, including inflation and currency fluctuations, as these will significantly impact Banco Macro's future performance.
Summary
- THE BANK'S NET INCOME totaled Ps.93.1 billion in the six months ended June 30, 2024. This result was
55% or Ps.115.9 billion lower 6M23. In 2Q24, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were5.4% and1.7% , respectively. - In the six months ended June 30, 2024, OPERATING INCOME (before G&A and personnel expenses) totaled Ps.2.38 trillion,
36% or Ps.628.2 billion higher than in 6M23. - In 2Q24, OPERATING INCOME (after G&A and personnel expenses) totaled Ps.99.1 billion,
93% or Ps.1.39 trillion lower than in 1Q24 and85% or Ps.544 billion lower than the same period of last year. - In 2Q24, BANCO MACRO'S TOTAL FINANCING increased
17% or Ps.504.1 billion quarter over quarter ("QoQ") totaling Ps.3.47 trillion and increased5% or Ps.154.5 billion year over year ("YoY"). In 2Q24 peso financing increased7% while USD financing remained unchanged. - In 2Q24, BANCO MACRO'S TOTAL DEPOSITS increased
13% or Ps.769.5 billion QoQ and decreased5% or Ps.329.3 billion YoY, totaling Ps.6.74 trillion and representing79% of the Bank's total liabilities. Private sector deposits increased11% or Ps.591.5 billion QoQ. In 2Q24, Peso deposits increased17% while USD deposits decreased6% . - Banco Macro continued showing a strong solvency ratio, with an EXCESS CAPITAL of Ps.2.36 trillion,
35.7% Capital Adequacy Ratio – Basel III and 34 % Tier 1 Ratio. In addition, the Bank's LIQUID ASSETS remained at an adequate level, reaching98% of its total deposits in 2Q24. - In 2Q24, the Bank's NON-PERFORMING TO TOTAL FINANCING RATIO was
1.23% and the COVERAGE RATIO reached181.4% .. - As of 2Q24, through its 515 branches and 9.175 employees Banco Macro serves 5.28 million retail customers (2.24 million digital customers) across 23 of the 24 Provinces in
Argentina and over 151,900 corporate customers.
2Q24 Earnings Release Conference Call
Friday, August 23, 2024
Time: 12:00 p.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 08/24/2024 through 09/06/2024
IR Contacts in
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-second-quarter-of-2024-302229119.html
SOURCE Banco Macro S.A.
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