Banco Macro S.A. Q4 Revenue Ps.16.6B Vs Ps.20.5B YoY; FY22 Revenue Ps.43B Vs Ps.52.8 YoY

Author: Happy Mohamed | February 24, 2023 01:09am

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.

Posted In: BMA