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北京时间·🕒 发布 06:31:00·⟳ 抓取 06:31:53 +53s·⚡ 决策 08-20 06:32:47 +54s·68.9 天前
Banco Macro披露2026年二季度业绩，净利环比增长但经营收入略降且资产质量承压
净利润环比改善但同比仅增长4%，更像例行财报确认而非明确正向 surprise。
📄 原文PR Newswire All News Releases↗ 原文
Banco Macro Announces Results for the Second Quarter of 2026
BUENOS AIRES, Argentina, Aug. 19, 2026 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BYMA: BMA) ("Banco Macro" or "BMA"…
不做 Banco Macro S.A.（BMA.US）
财报信息正负混合，未核实显著超预期或强利空，且缺少真实事件时点报价，无法形成正期望交易。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
🔎 新鲜度:最早出现 2026-08-19 · 扩散 low · price-in 风险 medium ↗
消息传播链
- 公司通过PR Newswire发布2Q26业绩，属于本次具体催化的可归属首发。
关键理由
- 净利润环比改善但同比仅增长4%，更像例行财报确认而非明确正向 surprise。
- 经营收入环比下降、存款环比下降且不良贷款率6.25%，抵消了净利环比改善的利好。
- 量级上本次是季度财报基线更新，未能确认相对一致预期的显著超预期幅度，不能形成追多边际。
主要风险
- 若电话会给出净息差、信用成本或阿根廷宏观利率环境的正向指引，可能改变业绩解读。
- 缺少可用实时行情与一致预期核验，无法给出可执行入场价。
反向证据
- 做多前查反向 · 来源 web · 影响 weakens
未确认净利润或收入相对一致预期存在足够正向 surprise，且公告内不良贷款率和存款环比下降构成反向约束。
检索:Banco Macro Q2 2026 earnings expectations revenue EPS non performing loans 原文 ↗ - 做空前查反向 · 来源 web · 日期 2026-08-19 · 影响 weakens
公司披露28%资本充足率、流动资产为存款的74%，没有形成足够强的直接做空催化。
检索:Banco Macro Q2 2026 results solvency capital adequacy liquidity assets 原文 ↗
先例如何影响了这次决策
对本次决策的影响:先例不足与预期差不清共同压低置信度，最终不下单。
方向:缺少同市场、同机制且已完成日线测算的可用先例，不能用历史财报反应支撑交易。
涨幅量级:未取得可用event_study结果，无法校准tp/sl幅度。
形态:银行财报类事件通常需依赖相对一致预期与电话会指引，本条目前缺少足够 surprise 证据。
原文全文
展开原文 · 3,188 字
Banco Macro Announces Results for the Second Quarter of 2026
BUENOS AIRES, Argentina, Aug. 19, 2026 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BYMA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the second quarter ended June 30, 2026 ("2Q26"). 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. For ease of comparison, figures of previous quarters of 2025 and 2026 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through June 30, 2026.
Summary
- THE BANK'S NET INCOME totaled Ps.206.8 billion in 2Q26, 39% or Ps.57.6 billion higher than the result posted in the previous quarter and 4% or Ps.7.1 billion higher than a year ago. In 2Q26, the annualized return on average equity ("ROAE") and the annualized return on average assets ("ROAA") were 13.4% and 3.3%, respectively.
Excluding Ps.21.9 billion restructuring expenses (Ps.14.2 billion after tax) 2Q26 net income would have totaled Ps.221 billion and the annualized ROAE and ROAA would have been 14.3% and 3.5% respectively. - In 2Q26, OPERATING INCOME (before G&A and personnel expenses) totaled Ps.1.29 trillion, 2% or Ps.23.1 billion lower than in 1Q26 and 1% or Ps.14.6 billion higher than the same period of last year.
- In 2Q26, OPERATING INCOME (after G&A and personnel expenses) totaled Ps.603.8 billion, 1% or Ps.4.6 billion lower than in 1Q26 and 1% or Ps.4.4 billion higher than the same period of last year.
- In 2Q26, BANCO MACRO'S TOTAL FINANCING increased 3% or Ps.338.2 billion quarter over quarter ("QoQ") totaling Ps.11.69 trillion and decreaed 5% or Ps.652.2 billion year over year ("YoY"). In 2Q26 peso financing increased 2% while USD financing increased 1%.
- In 2Q26, BANCO MACRO'S TOTAL DEPOSITS decreased 1% or Ps.196 billion QoQ and increased 4% or Ps.563.8 billion YoY, totaling Ps.14.74 trillion and representing 76% of the Bank's total liabilities. Private sector deposits decreased 4% or Ps.594.7 billion QoQ. In 2Q26, Peso deposits increased 0.4% while USD deposits decreased 11%.
- Banco Macro continued showing a strong solvency ratio, with an EXCESS CAPITAL of Ps.4.1 trillion, 28% Capital Adequacy Ratio – Basel III and 28% Tier 1 Ratio. In addition, the Bank's LIQUID ASSETS remained at an adequate level, reaching 74% of its total deposits in 2Q26.
- In 2Q26, the Bank's NON-PERFORMING TO TOTAL FINANCING RATIO was 6.25% and the COVERAGE RATIO reached 95.39%. Stage 3 loans represented 4.1% of total loans and the coverage ratio of stage 3 loans was 148.8%.
- As of 2Q26, through its 402 branches and 8.180 employees Banco Macro serves 6.36 million retail customers across 23 of the 24 Provinces in Argentina and over 228.780 corporate customers.
2Q26 Earnings Conference Call
Thursday, August 20, 2026
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
To participate, please register here:
Banco Macro 2Q26 Earnings Call
IR Contacts in Buenos Aires:
Jorge Scarinci
Chief Financial Officer
Nicolás A. Torres
Investor Relations
Phone: (54 11) 5222 6682
E-mail: [email protected]
SOURCE Banco Macro S.A.
BUENOS AIRES, Argentina, Aug. 19, 2026 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BYMA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the second quarter ended June 30, 2026 ("2Q26"). 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. For ease of comparison, figures of previous quarters of 2025 and 2026 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through June 30, 2026.
Summary
- THE BANK'S NET INCOME totaled Ps.206.8 billion in 2Q26, 39% or Ps.57.6 billion higher than the result posted in the previous quarter and 4% or Ps.7.1 billion higher than a year ago. In 2Q26, the annualized return on average equity ("ROAE") and the annualized return on average assets ("ROAA") were 13.4% and 3.3%, respectively.
Excluding Ps.21.9 billion restructuring expenses (Ps.14.2 billion after tax) 2Q26 net income would have totaled Ps.221 billion and the annualized ROAE and ROAA would have been 14.3% and 3.5% respectively. - In 2Q26, OPERATING INCOME (before G&A and personnel expenses) totaled Ps.1.29 trillion, 2% or Ps.23.1 billion lower than in 1Q26 and 1% or Ps.14.6 billion higher than the same period of last year.
- In 2Q26, OPERATING INCOME (after G&A and personnel expenses) totaled Ps.603.8 billion, 1% or Ps.4.6 billion lower than in 1Q26 and 1% or Ps.4.4 billion higher than the same period of last year.
- In 2Q26, BANCO MACRO'S TOTAL FINANCING increased 3% or Ps.338.2 billion quarter over quarter ("QoQ") totaling Ps.11.69 trillion and decreaed 5% or Ps.652.2 billion year over year ("YoY"). In 2Q26 peso financing increased 2% while USD financing increased 1%.
- In 2Q26, BANCO MACRO'S TOTAL DEPOSITS decreased 1% or Ps.196 billion QoQ and increased 4% or Ps.563.8 billion YoY, totaling Ps.14.74 trillion and representing 76% of the Bank's total liabilities. Private sector deposits decreased 4% or Ps.594.7 billion QoQ. In 2Q26, Peso deposits increased 0.4% while USD deposits decreased 11%.
- Banco Macro continued showing a strong solvency ratio, with an EXCESS CAPITAL of Ps.4.1 trillion, 28% Capital Adequacy Ratio – Basel III and 28% Tier 1 Ratio. In addition, the Bank's LIQUID ASSETS remained at an adequate level, reaching 74% of its total deposits in 2Q26.
- In 2Q26, the Bank's NON-PERFORMING TO TOTAL FINANCING RATIO was 6.25% and the COVERAGE RATIO reached 95.39%. Stage 3 loans represented 4.1% of total loans and the coverage ratio of stage 3 loans was 148.8%.
- As of 2Q26, through its 402 branches and 8.180 employees Banco Macro serves 6.36 million retail customers across 23 of the 24 Provinces in Argentina and over 228.780 corporate customers.
2Q26 Earnings Conference Call
Thursday, August 20, 2026
Time: 11:00 a.m. Eastern Time | 12:00 p.m. Buenos Aires Time
To participate, please register here:
Banco Macro 2Q26 Earnings Call
IR Contacts in Buenos Aires:
Jorge Scarinci
Chief Financial Officer
Nicolás A. Torres
Investor Relations
Phone: (54 11) 5222 6682
E-mail: [email protected]
SOURCE Banco Macro S.A.
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