BUENOS AIRES, Argentina, May 17, 2023 /PRNewswire/ -- Banco Macro S.A. (NYSE:BMA, BYMA: BMA))) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the first quarter ended March 31, 2023 ("1Q23"). 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 March 31, 2023.

Summary

The Bank's net income totaled Ps.9.8 billion in 1Q23. This result was 52% lower than the Ps.20.2 billion posted in 4Q22 and 20% lower than the Ps.12.3 billion posted in 1Q22. In 1Q23, the annualized return on average equity ("ROAE") and the annualized return on average assets ("ROAA") were 8.2% and 1.7%, respectively.
In 1Q23 Operating Income (before G&A and personnel expenses) totaled Ps.167.8 billion, 5% or Ps.8 billion higher than in 4Q22 and 28% or Ps.36.7 billion higher than the same period of last year.
In 1Q23 Operating Income (after G&A and personnel expenses) totaled Ps.104 billion, 9% or Ps.8.8 billion higher than in 4Q22 and 39% or Ps.29.3 billion higher than the same period of last year.
In 1Q23, Banco Macro's financing to the private sector decreased 4% or Ps.30 billion quarter over quarter ("QoQ") totaling Ps.694.5 billion and decreased 8% or Ps.63.5 billion year over year ("YoY").
In 1Q23, Banco Macro's total deposits decreased 7% or Ps.112.6 billion QoQ and increased 6% or Ps.80.1 billion YoY, totaling Ps.1.5 trillion and representing 81% of the Bank's total liabilities. Private sector deposits decreased 6% or Ps.89.7 billion QoQ.
Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.520 billion, 42.4% regulatory capital ratio – Basel III and 39.1 % Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 97% of its total deposits in 1Q23.
In 1Q23, the Bank's non-performing to total financing ratio was 1.41% and the coverage ratio remained stable at 145.33%.
As of 1Q23, through its 463 branches and 7.756 employees Banco Macro serves 4.6 million retail customers (1.7 million digital customers) across 23 of the 24 Provinces in Argentina and over 117,400 corporate customers.

Earnings Release Conference Call

Thursday, May 18, 2023

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

Webcast Replay: click here

Available from 05/18/2023 through 06/02/2023

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

SOURCE Banco Macro S.A.

Banco Macro Announces Results for the First Quarter of 2023