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In the first eleven months of 2018, they recorded gains in excess of those of the same period of the previous year.
In its last Report on Banks, the monetary authority specified that the sector entities accumulated in January-November nominal profits close to 3.8% of assets and 34.1% of assets.
These ratios “were higher than those in the same period last year (0.8 percentage points in respect of assets and 8.3 points in relation to capital),” said the BCRA.
The January-November improvement was achieved despite the fact that in the last month the profit of banks was lower than in October.
For private banks in particular, the BCRA said, in the accumulated eleven months the ROA (result on assets) was 4.1%, while the ROE (on equity) amounted to 33.9%, 0.9 and 7.7 points more than in the same period of 2017, respectively.
Among the reasons for the rebound in the profitability of the business, the report notes that “throughout the year the financial margin of all banks reached 10.5% of assets, 0.3 points above the record evidenced in the same period of the previous year”, especially due to higher interest income.
The profits by Services between January and November were in turn 2.2% of assets, 0.7 points less than a year ago, but were largely offset by the evolution of other components of the financial margin.
In this regard, they provided the results for holding public securities, the income from operations adjusted by CER and CVS (reference stabilization and wage variation coefficients), and the positive balance of contributions differences.
The BCRA report finally highlights the decrease in administrative expenses of the financial system, which accumulated in January-November 6,3% of assets, “0.9 points less than observed for the first eleven months of 2017”.
Publication Date: 17/01/2019
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