Banco Macro Sa Class B · BCBA:BMA
Banco Macro Sa Class B — Q4 2021 Earnings Presentation
36 slides from Banco Macro Sa Class B's earnings presentation, March 2022
Slide 1: Investor Relations March 2022
Investor Relations March 2022
Slide 2: Company Representatives and Disclaimer
COMPANY REPRESENTATIVES Jorge Scarinci, CFA Nicolás A. Torres Chief Financial Officer Investor Relations DICLAIMER The information contained in this presentation is confidential and has been prepared solely for informational purposes. This presentation contains forward-looking statements which are b
Slide 3: Agenda
AGENDA 01. Section I - BMA Business Overview 02. Section II - BMA Strengths and Opportunities 03. Section III - BMA Financial Performance 04. Section IV - Financial System & Argentine Economy 05. Section V - Appendix 3
Slide 4: Section I - BMA Business Overview
SECTION I BMA Business Overview
Slide 5: Macro in a Nutshell
MACRO IN A NUTSHELL 01 A Leading Private Sector Bank in Argentina 02 Presence in Fast Growing Segments 03 Strong Profitability & Returns 04 Diversified Loan Portfolio & Prudent Risk Management 05 Robust Liquidity & Capital Ratios 5 5
Slide 6: A Successful Business Model & Strategic Focus
A SUCCESSFUL BUSINESS MODEL & STRATEGIC FOCUS Banco Macro Strategy Jujuy (18) Misiones (36) Salta (37) » Enhanced business model to increase efficiency and Tucuman Formosa cross-selling capabilities Catamarca (43) Santiago Chaco (2) Del (1) Corrientes Estero » Continue gaining market share in low-to
Slide 7: A Successful Business Model & Strategic Focus
A SUCCESSFUL BUSINESS MODEL & STRATEGIC FOCUS Business Model 7
Slide 8: A Successful Growth Story
A SUCCESSFUL GROWTH STORY 42 years of experience in the Argentine Financial System Banco Privado de Inversiones Merger Nuevo Banco Bisel Banco de Tucumán / NYSE IPO / Nuevo Banco Bisel Banco Empresario de Tucumán Nuevo Banco Suquía Banco Bansud / 35% of Scotiabank Argentina Assets (Ps. Mm) 997,701 B
Slide 9: A Unique Branch Network
A UNIQUE BRANCH NETWORK Largest private sector branch network in Argentina and exclusive financial agent in 4 provinces Strongest presence outside Buenos Aires² Branches Macro 80% 14% 6% 466 Nationwide Nacion 60% 30% 10% 640 Presence¹ Supervielle 38% 39% 23% 183 466 Branches throughout the country P
Slide 10: An Increasing Branch Network in Buenos Aires
AN INCREASING BRANCH NETWORK IN BUENOS AIRES Keep increasing our market share in Buenos Aires Rest of Buenos Aires Province1 Metropolitan Area & Great Buenos Aires1 Market Market Bank (total branches) Total Bank (total branches) Total Share Share 1 Provincia de Bs As 234 26% 1 Santander Rio 224 14%
Slide 11: A Leading Private Sector Bank in Argentina
A LEADING PRIVATE SECTOR BANK IN ARGENTINA Assets (Ps Billion - % Market Share) Equity (Ps Billion - % Market Share) 2.139.316 13.354.597 625.953 3.674.176 365.631 2.539.546 195.310 182.495 149.982 130.266 129.116 109.671 97.021 77.246 76.625 1.204.757 1.194.340 1.173.629851.276804.228 538.514495.83
Slide 12: Section II - BMA Financial Performance
SECTION II BMA Financial Performance
Slide 13: BMA's Earnings Consistent Growth
BMA’S EARNINGS CONSISTENT GROWTH Quarterly Net Profit (Ps Million) EARNINGS PER SHARE MACRO Consolidated Change 10.534 In MILLION $ (Measuring Unit Current at EOP) 4Q20 3Q21 4Q21 FY2020 FY2021 QoQ YoY 9.604 9.161 9.112 Net income -Parent Company- (M $) 4,791 8,106 10,534 36,782 27,123 30% 120% Book
Slide 14: Banco Macro Highlights x Peers
BANCO MACRO HIGHLIGHTS’ X PEERS FY2021 Banco Macro Banco Galicia BBVA Supervielle Santander Profitability Net Interest Margin1 19.1% 15.67% 17.8% 17.2% N/A Efficiency Ratio² 37.5% 64.48% 49.4% 74.6% 43.5% ROAE 12.2% 10.47% 13.5% -1.6% 6.3% ROAA 2.8% 1.73% 2% -0.2% 0.75% Liquidity Loans / Deposits 59
Slide 15: Superior and Consistent Performance Relative to Peers
SUPERIOR AND CONSISTENT PERFORMANCE RELATIVE TO PEERS ROAA¹ ROAE¹ 2,80% 13,50% 12,20% 2,00% 10,47% 1,73% 7,24% 6,60% 1,07% 0,75% -0,20% Banco Galicia BBVA Santander Supervielle Promedio -1,60% Macro Peers Banco Galicia BBVA Santander Supervielle Promedio Macro Peers Net Interest Margin (NIM) ² Effic
Slide 16: Financial Summary
FINANCIAL SUMMARY Balance Sheet Breakdown - Assets (Ps Billion) Balance Sheet Breakdown – Liabilities (Ps Billion) 4% 4% 4% 4% 4% 4% 4% 4% 2% 2% 1% 1% 1% 2% 1% 4% 2% 2% 1% 0% 4% 3% 3% 2% 7% 6% 7% 1% 3% 2% 3% 3% 0% 17% 4% 6% 2% 2% 2% 2% 2% 14% 15% 5% 5% 3% 3% 2% 2% 4% 10% 11% 11% 4% 9% 9% 8% 8% 7% 7%
Slide 17: Financial Summary - Income Statement
FINANCIAL SUMMARY INCOME STATEMENT In MILLION $ (Measuring Unit Current at EOP) 4Q20 3Q21 4Q21 FY2020 FY2021 Net Interest Income 32,860 32,784 35,680 145,275 130,998 Net fee income 8,543 8,624 8,760 34,257 33,453 Net Interest Income + Net Fee Income 41,403 41,408 44,440 179,532 164,451 Net Income fr
Slide 18: Financial Summary - Accumulated Annualized Ratios
FINANCIAL SUMMARY ACCUMULATED ANNUALIZED RATIOS 4Q20 1Q21 2Q21 3Q21 4Q21 Profitability & performance Net interest margin 19.2% 17.4% 18.0% 18.4% 19.1% Net interest margin adjusted (exc. FX) 18.4% 16.5% 17.4% 17.8% 18.4% Net fee income ratio 12.6% 11.5% 11.8% 12.4% 12.5% Efficiency ratio 35.7% 35.7%
Slide 19: Total Loans & Deposits Breakdown
TOTAL LOANS & DEPOSITS BREAKDOWN Loans Deposits Low-Cost Pledged Deposits Mortgage Loans Loans 2% 7% Overdrafts 7% 4% of Loan Book in Others 4% Personal dollars. Loans Time 30% 41% Documents² 16% of deposits in Sight 13% dollars. 55% Others³ 11% Credit Cards 30% Publ & Fin 1% Publ. & Fin Corpora
Slide 20: Deposits and Total Financing Maturity
DEPOSITS AND TOTAL FINANCING MATURITY Total Financing¹ Total Deposits¹ More than 3, up More than 6 to 6 Months months 1% 0% More than 1, up to 3 months 9% More than 24 months 24% Up to 1 Month¹ 28% More than 12 More than 1 up to 24 up to 3 months months 16% 9% Up to 1 Month More than 3 90% up to 6 M
Slide 21: Organic, Inorganic and Fee Income Growth
ORGANIC, INORGANIC AND FEE INCOME GROWTH Market Share Evolution1 Fee Income 2 10% I II V 7500,0 III IIV 6.9% 8% 5.4% 5000,0 5% (Million Ps.) 3% 2500,0 0% ,0 Other ATM transaction fees Corporate services fees Credit-related fees Debit and credit card income Source: BCRA Notes: 1-As of December 2021,
Slide 22: Asset Quality
ASSET QUALITY NPLs as a % of Total Lending1 3.2 Banco Macro Financial System¹ 5,7 2,6 4,5 4,2 4,3 2,0 2,1 2,0 2,1 3,5 1,8 1,7 1,9 3,2 3,1 1,5 1,5 1,6 2,8 1,3 2,1 2,0 1,1 1,1 1,7 1,7 1,7 1,8 1,7 0,8 1,4 Allowances as a % of NPLs¹ Banco Macro Financial System¹ 176 479 148 144 150 142 150 140 141 136 1
Slide 23: Funding & Liquidity Management
FUNDING & LIQUIDITY MANAGEMENT Large share of demand deposits Appropriate liquidity complemented by low-cost available to take advantage of deposits from provinces expected credit expansion Deposit Base Liquidity Management 600.000 (Million Ps) 4Q20 4Q21 4% Cash + cash collateral + call 214,425 187,
Slide 24: Lower Exposure to Public Sector and Solid Capitalization and Solvency
LOWER EXPOSURE TO PUBLIC SECTOR AN SOLID CAPITALIZATION AND SOLVENCY Exposure to the Public Sector1 Excess Capital 24 200.000 40 36.1 180.000 18.1 18 160.000 30.4 30 Net Public Exposure/Total Assets (%) 140.000 Total Capital Ratio / Tier 1 Ratio (%) 13.9 Excess of Capital (Million Ps.) 120.000 12 10
Slide 25: Section III - BMA Strengths and Opportunities
SECTION III BMA STRENGHTS AND OPPORTUNITIES 25
Slide 26: A Strong Position in Core Banking Activity
A STRONG POSITION IN CORE BANKING ACTIVITY Market Share / Group of Banks1 Private Sector Loans Private Sector Deposits Macro Macro 19% 23% Private Banks Public Banks Private Banks (Local) 33% (Local) 32% 32% Public Banks 36% Private Banks Private Banks (Foreign) (Foreign) 31% 30% Source: BCRA. Compa
Slide 27: Strong Well Diversified Loan Book
STRONG WELL DIVERSIFIED LOAN BOOK Private Sector Loans – Banco Macro vs. System Banco Macro (Ps. 316.1 Billion)¹ System (Ps. 4.6 Trillion)² Overdraft 7% Others (3) Others (3) 7% Overdrafts 11% 10% Documents (2) 13% Credit Cards Credit Cards 28% Documents (2) 30% Mortgage Loans 28% 7% Pledged Loans 2
Slide 28: Strong Well Diversified Loan Book - Economic Activity
STRONG WELL DIVERSIFIED LOAN BOOK Breakdown of Loans by Economic Activity¹ Agricultural livestock - Forestry - Fishing - Mining - Hunting Transportation, storage and 13% communications. 3% Other services 3% Foodstuff and beverages Hotels and restaurants 6% 0% Manufacturing and wholesale 3% Chemicals
Slide 29: Strong Presence in Fast Growing Segments
STRONG PRESENCE IN FAST GROWING SEGMENTS » As of December 2021, credit cards comprise 27% of Volume (Ps. Millions) Breakdown¹ outstanding loans, down 2% YoY. 94,963 » We have grown our credit cards business at 38% CAGR Credit Cards since 2007 through our point-of-sale promotion strategy Retirees and
Slide 30: Section IV - Financial System & Argentine Economy
SECTION IV FINANCIAL SYSTEM & ARGENTINE ECONOMY 30
Slide 31: Private Sector Loans Growth
PRIVATE SECTOR LOANS GROWTH Loans Growth Rates (YoY) Private Sector Loans/GDP¹ 80% 20% 60% 41% 40% 41% 15% 41% 20% 00% 10% 10% -20% -40% 05% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Total Individuals Corporations Source: BCRA/BMA As of
Slide 32: Private Sector Deposits Growth
PRIVATE SECTOR DEPOSITS GROWTH Deposits Growth Rates (YoY) Private Sector Deposits/GDP¹ 120% 25% Priv S. Dep 100% 20% 80% 20% 60% 54% 49% 15% 40% 45% 20% 10% 0% -20% 5% -40% 0% Priv S. Dep Total Individuals Corporations Source: BCRA/BMA As of December 2021. Note 1 : As of December, 2021. 32
Slide 33: Private Sector Loans and Deposits Growth
PRIVATE SECTOR LOANS AND DEPOSITS GROWTH Private Sector Loans & Deposits with Consistent Growth 61% 52% 53% 43% 47% 47% 43% 38% 41% 38% 36% 30% 31%30% 31%28% 32% 29% 32% 32% 26% 22% 25% 27% 25% 25% 21% 21% 20% 20% 16% 11% 8% 10% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2
Slide 34: Section V - Appendix
> |e i] | i Bae mY) SECTION V APPENDIX Macro
Slide 35: Ownership Structure | Debt & Equity Information
OWNERSHIP STRUCTURE1 | DEBT & EQUITY INFORMATION Dividends per Dividends paid Payout Fiscal Year Payment share (In thousands Ps.) Ratio (Ps) 2005 May/06 68,395 0.1 26.03% Major Anses 2006 May/07 102,591 0.15 24.18% Shareholders 29% 2007 May/08 170,995 0.25 34.53% 35% 2008 Sep/09 148,334 0.25 22.47%
Slide 36: Stock Performance
STOCK PERFORMANCE Banco Macro's Share Performance x Merval Index & Peers (100 points as of Jan, 2, 2006) 14000 12000 10000 8000 6000 4000 Merval Index 2000 Macro Galicia BBVA 0 2006 20007 2008 2010 2011 2012 2014 2015 2016 2018 2019 2020 Source: Bloomberg As of December 7, 2021. 36