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Banco Macro (BMA) investor relations material
Banco Macro Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net income for Q2 2025 rose 209% quarter-on-quarter to Ps.149.5 billion, returning to profitability after a loss a year ago, driven by higher net interest and fee income.
Total comprehensive income increased 241% sequentially to Ps.157.1 billion, with strong operating income growth.
Operating income after G&A and personnel expenses was Ps.448.8 billion, up 22% QoQ and 226% YoY.
Asset quality remains strong, though some deterioration in consumer NPLs is expected due to high real interest rates.
Guidance for 2025 maintained: 8–10% ROE, 60% loan growth, and 30% deposit growth.
Financial highlights
Net operating income before expenses up 13% quarter-on-quarter and 49% year-over-year.
Net interest income was Ps.696.9 billion, up 14% QoQ and 163% YoY, with interest income from loans up 19% QoQ.
Net fee income reached Ps.180.4 billion, up 16% QoQ and 34% YoY, led by credit card fees up 90% QoQ.
Efficiency ratio improved to 33.9% from 38.2% in the previous quarter and 55.6% a year ago.
Provision for loan losses was Ps.103 billion, up 47% QoQ and 349% YoY, reflecting loan growth.
Outlook and guidance
Expecting a slight reduction in NIM for Q3 2025 due to higher funding costs and volatility.
Asset quality forecast to deteriorate, with NPLs rising to 2.5–3% by year-end.
Cost of risk expected to remain around 4% for the second half.
Loan growth guidance for 2025 at 60%, deposit growth at 30%, and 45% real loan growth for 2026.
Tier one ratio forecasted at 28.75% by year-end 2025.
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