Moody's Investors Service ("Moody's") has today affirmed all ratings and assessments assigned to Banco de Galicia y Buenos Aires S.A.U. (Galicia), Banco Hipotecario S.A. (Hipotecario), Banco Macro S.A. (Macro) and Banco Santander Argentina S.A. (Santander Argentina), including all four banks' ca bas...
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Banco Macro S.A. Global Credit Research- 21 Jan 2022. New York, January 21, 2022-- Moody's Investors Service has completed a periodic review of the ratings of Banco Macro S.A. and other ratings that are associated with the same analytical unit.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Banco Macro S.A. Global Credit Research- 17 Feb 2021. New York, February 17, 2021-- Moody's Investors Service has completed a periodic review of the ratings of Banco Macro S.A. and other ratings that are associated with the same analytical unit.
COVID-19 outbreak impact The decline in average household income and private consumption, the rise of the unemployment rate, and the closure of an increasing number of shops and SMEs, in a context of still high inflation, had a strong impact on overall GDP and on the banking industry business. The nation-wide lockdown established for several months by the federal government in response to the Covid-19 outbreak added another punch to an already-stagnant credit market amid economic slowdown. Re...
Rating Action: Moody's affirms Argentinean banks' ratings; outlook remains negative. Global Credit Research- 16 Sep 2020. New York, September 16, 2020-- Moody's Investors Service has today affirmed the baseline credit assessments, adjusted BCAs, deposit ratings and counterparty risk assessments of Banco de Galicia y Buenos Aires S.A.U., Banco Hipotecario S.A., Banco Macro S.A. and Banco Santander Río S.A..
Lower activity and Leliq yields hurt the industry’s earnings. The Argentine banking industry posted a net gain of ARS 117 billion in the first half of 2020, 11% less than in the same period of 2019. Although financial margin rose 36% YoY, there was an 8% decline in securities income, together with a 49% YoY increase in administration expenses. The financial intermediation business continued to lose weight; securities’ income recedes In terms of financial intermediation, financial income grow...
Banco Macro (BYMA/NYSE:BMA) began reporting results applying Hyperinflation Accounting, in accordance with IFRS IAS 29 as established by the Central Bank as of fiscal year 2020. For comparison purposes, information corresponding to fiscal year 2019 has been restated in constant currency. BMA posted earnings of ARS 6.4billion in 2Q20,more than doubling 2Q19 figures (ARS 3 billion), but 14% below previous-quarter values (ARS 7.5 billion). For details on the results, see the full report. COVID-...
The Argentine banking industry posted a net gain of ARS 73 billion in the first four months of 2020, 46% lower y-o-y. Although financial margin rose 35% in the period, there was a 2% decline in securities income, together with a 25% YoY decrease in net fee income. THE FINANCIAL INTERMEDIATION BUSINESS CONTINUED TO LOSE WEIGHT; SECURITIES’ INCOME STARTS TO RECEDE In terms of financial intermediation, during the first four months of 2020, the growth of financial income (22% YoY) greatly outpac....
Banco Macro (BYMA/NYSE:BMA) began reporting results applying Hyperinflation Accounting as of 1Q20, in accordance with IFRS IAS 29 as established by the Central Bank. For comparison purposes, the information corresponding to fiscal year 2019 has been restated in constant currency. Lower financial expense contributed in the net interest margin improvement, in a context of declining loan origination and securities income BMA posted a profit of ARS 7.1 billion in 1Q20, up15% over 4Q19 figures (AR...
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