Banco Macro reports Q1 results

Banco Macro press release (NYSE:BMA): Q1 Net income totaled Ps.9.8 billion in 1Q23. This result was 52% lower than the Ps.20.2 billion posted in 4Q22 and 20% lower than the Ps.12.3 billion posted in 1Q22.
In 1Q23, the annualized return on average equity (ROAE) and the annualized return on average assets (ROAA) were 8.2% and 1.7%, respectively.
Operating Income totaled Ps.167.8 billion, 5% or Ps.8 billion higher than in 4Q22 and 28% or Ps.36.7 billion higher than the same period of last year.
Ttotal deposits decreased 7% or Ps.112.6 billion QoQ and increased 6% or Ps.80.1 billion YoY, totaling Ps.1.5 trillion and representing 81% of the Bank's total liabilities.