On Friday Banco Macro S.A. (NYSE:BMA) stock recorded daily change of -0.88% to close at $23.6 with the total traded volume of 245618 shares along average volume of 404317 shares 52 week range of the stock remained $ ISTR – 77.31 while its day low price was $23.21 and its hit its day high price at $23.79. Its previous closing value stands at $23.81. BMA total market capitalization is $2095549053. Currently stocks EPS is $3.99 while its price to earnings ratio is 5.91
On Nov. 8, 2019, Banco Macro S.A. (NYSE:BMA) declared its results for the third quarter ended September 30, 2019 (3Q19). All figures are in Argentine pesos (Ps.)
Summary
- The Bank’s net income totaled Ps.13.2 billion in 3Q19. This result was 87% higher than the Ps.7 billion posted in 2Q19 and 243% higher than in 3Q18. In 3Q19, the accumulated annualized return on average equity (ROAE) and the accumulated annualized return on average assets (ROAA) were 57.3% and 9.4%, respectively. In 3Q19 Recurring Net Income totaled Ps.15.5 billion increasing 99% or Ps.7.7 billion compared with the previous quarter.
- In 3Q19, Banco Macro’s financing to the private sector grew 10% or Ps.18.1 billion quarter over quarter (QoQ) totaling Ps.192.8 billion and increased 15% or Ps.24.5 billion year over year (YoY). In the quarter, growth was driven by commercial loans, among which Overdrafts stand out, with a 78% increase QoQ. Meanwhile within consumer loans, credit card loans increased 12% QoQ.
- In 3Q19, Banco Macro’s total deposits decreased 9% or Ps.25.1 billion QoQ, totaling Ps.259.2 billion and representing 79% of the Bank’s total liabilities. Private sector deposits decreased 8% or Ps.22 billion QoQ.
- Banco Macro continued showing a strong solvency ratio, with excess capital of Ps.60.0 billion, 26.5% regulatory capital ratio – Basel III and 18.9% Tier 1 Ratio. In addition, the Bank’s liquid assets remained at an adequate level, reaching 61% of its total deposits in 3Q19.
- As of 3Q19, the efficiency ratio reached 32.5%, improving from the 37.6% posted in 3Q18.
- In 3Q19, the Bank’s non-performing to total financing ratio was 1.9% and the coverage ratio reached 124.16%.
Marcus Miller writes for Finance section of website. He has been a freelance journalist for 8 years, contributing to different online publications. Marcus graduated from University with a BBA in Management with a concentration in Consulting and Business Analysis. In his free time, he likes to indulge in outdoor activities, binge watch HBO GO series and catch local bands playing. He is currently based in USA, and can be reached at [email protected].
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