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BMABullishEarningsShort Term
High materiality8/10

Banco Macro Announces Results for the Second Quarter of 2026

StockNews.AIAug 19, 6:31 PM EDT1 source
Trading thesisImportance 8/10

Near-term bullish on BMA driven by stronger profitability and solid capitalization.

AI summary

What happened and why it matters

Banco Macro reported 2Q26 net income of Ps206.8 billion, up 39% QoQ and 4% YoY. Excluding restructuring costs, net income would be Ps221 billion with ROAE near 14% and ROAA around 3.5%. The bank continues to show robust capitalization (Basel III 28%, Tier 1 28%), healthy liquidity (74% of deposits), and solid asset quality (NPL 6.25%), supporting a constructive near-term view for BMA.

  • 2Q26 net income up 39% QoQ confirms earnings momentum.
  • Ex restructuring, ROAE ~14% and ROAA ~3.5% highlight earnings quality.
  • USD deposits down 11% YoY; funding mix remains a watch point.
  • Excess capital of Ps 4.1T and 28% Basel III/Tier 1 ratios imply upside optionality.

Sentiment rationale

Strong QoQ earnings growth, solid ROAE/ROAA, and ample excess capital suggest earnings visibility and potential dividend/return support. While funding mix and inflationary context are headwinds, the positive metrics (NPL coverage, liquidity, Basel III levels) may attract buyers, especially for ADRs, in the near term.

Key facts

  1. 01

    2Q26 net income Ps206.8b; QoQ up 39%.

  2. 02

    ROAE 13.4%, ROAA 3.3%; ex-restructuring 14.3%/3.5%.

  3. 03

    Total financing Ps11.69T; QoQ +3%, YoY -5%.

  4. 04

    Total deposits Ps14.74T; QoQ -1%; USD deposits -11% YoY.

  5. 05

    NPL 6.25%; coverage 95.39%; Stage 3 4.1% (stage 3 coverage 148.8%).

Earnings

Category: Earnings. The release provides quarterly profitability, capital adequacy, liquidity, and asset-quality metrics, typical of a formal earnings report for a sizable bank; inflation-adjusted IAS 29 restatements underscore macro-volt environment affecting comparability.

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