BUENOS AIRES, Argentina, Feb. 23, 2023 /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, 2022 ("4Q23"). 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 2021 and 2022 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through December 31, 2022.

Summary

The Bank's net income totaled Ps.16.6 billion in 4Q22. This result was 59% higher than the Ps.10.4 billion posted in 3Q22 and 19% lower than the Ps.20.5 billion posted in 4Q21. Net Income for FY2022 totaled Ps.43 billion, 19% lower than the Ps.52.8 posted in FY2021. In 4Q22, the annualized return on average equity ("ROAE") and the annualized return on average assets ("ROAA") were 16.9% and 3.3%, respectively.
In 4Q22 Operating Income (after G&A and personnel expenses) totaled Ps.78.2 billion, 79% or Ps.34.6 billion higher than in the same period of last year.
In 4Q22, Banco Macro's financing to the private sector increased Ps.2 billion quarter over quarter ("QoQ") totaling Ps.596.4 billion and decreased 12% or Ps.83.4 billion year over year ("YoY"). In FY2022 peso financing decreased 14% while USD financing decreased 30%.
In 4Q22, Banco Macro's total deposits decreased 2% or Ps.23.5 billion QoQ and increased 13% or Ps.148.4 billion YoY, totaling Ps.1.3 trillion and representing 82% of the Bank's total liabilities. Private sector deposits increased 2% or Ps.24.5 billion QoQ. In FY2022, private sector deposits stand out with a 14% increase (within private sector deposits time deposits grew 28% compared to FY2021)
Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.410.3 billion, 39.9% regulatory capital ratio – Basel III and 36.6% Tier 1 Ratio. In addition, the Bank's liquid assets remained at an adequate level, reaching 95% of its total deposits in 4Q22.
In 4Q22, the Bank's non-performing to total financing ratio was 1.25% and the coverage ratio remained stable at 151.69%.
As of 4Q22, through its 467 branches and 7.781 employees Banco Macro serves 4.6 million retail customers (1.6 million digital customers) across 23 of the 24 Provinces in Argentina and over 111,700 corporate customers.

4Q22 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 02/24/2023 through 03/10/2023

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

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SOURCE Banco Macro S.A.

Banco Macro Announces Results for the Fourth Quarter of 2022