Banco Macro reported significantly higher sequential earnings in the second quarter of 2026, but its headline non-performing financing ratio continued to deteriorate and reached more than three times its year-earlier level.
Net income totaled Ps.206.8 billion, up 39% from the first quarter and 4% from the prior-year period.
The increase was driven by higher income from government securities measured at fair value, lower operating expenses, a smaller loss from the net monetary position as inflation declined and lower sequential provisions for loan losses.
Annualized return on average equity reached 13.4%, while return on average assets was 3.3%.
The quarter included Ps.21.9 billion of restructuring expenses associated with early retirement plans and severance provisions. Excluding those costs, Banco Macro said net income would have reached Ps.221 billion, with adjusted ROAE of 14.3%.
Asset quality moved in the opposite direction.
Banco Macro’s non-performing financing ratio under Argentine Central Bank rules increased to 6.25% from 5.4% in the first quarter and 2.06% a year earlier.
There is an important distinction within that number. The Stage 3 ratio, representing loans more than 90 days past due under the expected-credit-loss framework, was 4.08%, up from 3.81% sequentially.
Banco Macro said the broader Central Bank ratio is also affected by mandatory reclassification of customers based on their behavior elsewhere in the Argentine financial system. Excluding those mandatory reclassifications, the NPL ratio was still higher at 5.37%, compared with 4.73% in the first quarter.
Consumer credit accounted for much of the deterioration. Consumer portfolio NPLs increased to 8.42% from 6.92%, while commercial NPLs improved to 0.85% from 1.34%.
The bank’s coverage ratio stood at 95.39%, while Stage 3 loan coverage reached 148.8%.
Provision for loan losses declined 24% sequentially to Ps.194.3 billion but remained 41% higher year-over-year.
All Banco Macro figures are reported in Argentine pesos and prior periods have been restated under IAS 29 to reflect accumulated inflation through June 30, 2026.
KEY QUOTE:
“The Bank is committed to continue working in this area to maintain excellent asset quality standards.”
Banco Macro statement
