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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

Bullish on BMA over 1–3 quarters due to earnings strength and solid capital; watch FX/ inflation dynamics.

AI summary

What happened and why it matters

Banco Macro posted 2Q26 net income of Ps206.8b, up 39% QoQ (ROAE 13.4%, ROAA 3.3%). Excluding restructuring costs, net income would be Ps221b (ROAE 14.3%). The bank maintains solid capitalization (Basel III 28%, Tier 1 28%), ample liquidity (74% of deposits), and prudent asset quality (NPL 6.25%, coverage 95.39%).

  • 2Q26 net income rose 39% QoQ to Ps206.8b; ROAE 13.4%.
  • Excluding restructuring costs, ROAE 14.3%; ROAA 3.5%.
  • Total financing up 3% QoQ to Ps11.69t; YoY -5%.
  • USD deposits fell 11% QoQ; peso deposits up 0.4%; liquidity 74%.

Sentiment rationale

Strong quarterly profitability, solid capitalization metrics, and healthy liquidity suggest upside potential; however, FX sensitivity and inflation adjustments in IAS 29 could introduce volatility, supporting a cautious near-term upside with headline-driven moves.

Key facts

  1. 01

    2Q26 net income Ps206.8b, up 39% QoQ; ROAE 13.4%.

  2. 02

    Excluding Ps21.9b restructuring costs, 2Q26 net income would be Ps221b; ROAE 14.3%.

  3. 03

    Total financing up 3% QoQ to Ps11.69t; YoY -5%.

  4. 04

    Total deposits Ps14.74t; -1% QoQ; USD deposits -11%; peso +0.4%.

  5. 05

    Excess capital Ps4.1t; Basel III 28%; Tier 1 28%; NPL 6.25%.

Earnings

Category: Earnings. The release presents material quarterly results, balance-sheet health, and inflation-adjusted restatements; fundamental implications hinge on profitability, capital adequacy, and FX exposure in Argentina.

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