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Banco Macro S.A. - BMA STOCK NEWS

Welcome to our dedicated page for Banco Macro S.A. news (Ticker: BMA), a resource for investors and traders seeking the latest updates and insights on Banco Macro S.A. stock.

Banco Macro S.A. (symbol: BMA) stands as the second largest domestically-owned private bank in Argentina and ranks sixth by deposits and lending. The company is a key player in Argentina's banking sector, providing a wide range of financial products and services tailored to meet the needs of both retail and corporate customers.

Banco Macro's retail segment caters to individuals and entrepreneurs, offering services such as savings accounts, personal loans, and credit cards. On the corporate side, the bank supports small, medium, and large enterprises with business loans, corporate finance, and other essential banking services. Additionally, Banco Macro extends its services to four provincial governments, underscoring its significant role in the local financial ecosystem.

The bank generates the majority of its revenue from within Argentina, making it a crucial institution for the nation's economic landscape. Banco Macro has consistently demonstrated robust financial performance. For instance, the company recently reported its second quarter results for 2023, highlighting strong earnings despite the challenging economic environment in Argentina.

One of the significant recent developments includes Banco Macro's acquisition of Banco Itaú Argentina S.A., Itaú Asset Management S.A., and Itaú Valores S.A. from Itaú Unibanco Holding S.A. The transaction, valued at approximately US$50 million, is expected to enhance Banco Macro's market presence and expand its service offerings.

Banco Macro is committed to transparency and investor relations. It regularly publishes detailed financial statements and reports, as evidenced by its timely updates for quarters ending in 2023 and the first quarter of 2024. The bank ensures compliance with international accounting standards, restating figures to reflect the effects of inflation adjustments accurately.

For investors and stakeholders interested in the latest updates and performance metrics, Banco Macro holds regular earnings release conference calls. These events provide insights into the bank's financial health and future outlook.

Overall, Banco Macro S.A. is a steadfast institution in Argentina's banking sector, continually adapting and growing to meet the evolving needs of its diverse clientele.

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Banco Macro (NYSE: BMA; BYMA: BMA) reported its 1Q24 results, with net income at Ps.275.2 billion, a 61% drop from 4Q23 but a 626% increase from 1Q23. Operating income before G&A and personnel expenses was Ps.1.62 trillion, 19% lower QoQ, but 149% higher YoY.

After G&A and personnel expenses, operating income totaled Ps.1.25 trillion, a 20% decrease QoQ, but 211% higher YoY. Total financing decreased 10% QoQ and 8% YoY to Ps.2.5 trillion. Total deposits fell 1% QoQ and 11% YoY to Ps.5 trillion. Peso deposits increased 10% while USD deposits dropped 32%.

Banco Macro maintained strong solvency with Ps.2.6 trillion excess capital, a 46.5% Capital Adequacy Ratio, and a 44.5% Tier 1 Ratio. Non-performing to total financing ratio was 1.14%, with a coverage ratio of 222.7%.

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Banco Macro S.A. announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the SEC. Shareholders can access the report online or request a hard copy for free. The press release also includes statements regarding potential future events that may differ from actual occurrences.

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Banco Macro S.A. announces strong financial results for the fourth quarter of 2023 with significant increases in net income, operating income, and total financing. The bank shows robust solvency ratios and continues to serve a large customer base.
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Banco Macro S.A. (BMA) announced its third-quarter results, with a net income of Ps.7.5 billion in 3Q23, down 87% from 2Q23 and 65% from 3Q22. Operating income increased by 23% YoY and total financing and deposits decreased by 4% and 22% QoQ, respectively. The Bank's solvency and capital ratios remained strong, but the non-performing to total financing ratio was 1.39% in 3Q23.
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Banco Macro to acquire Banco Itaú Argentina and its subsidiaries for $50 million
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Banco Macro's net income in 2Q23 was Ps.44.2 billion, a 265% increase from 1Q23 and a 394% increase from 2Q22. Operating income before expenses increased by 27% to Ps.264.1 billion, and total financing increased by 3% to Ps.893.2 billion. Total deposits increased by 5% to Ps.1.9 trillion. Solvency ratio remained strong at 35.9%. Non-performing to total financing ratio was 1.37% with a coverage ratio of 146.05%.
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Itaú Unibanco is in preliminary negotiations to divest its operations in Argentina to Banco Macro. The sale has not been finalized yet.
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FAQ

What are the main services offered by Banco Macro?

Banco Macro offers a broad range of financial products and services, including savings accounts, personal loans, credit cards, business loans, and corporate finance.

Who are Banco Macro's primary customers?

Banco Macro serves both retail customers (individuals and entrepreneurs) and corporate customers (small, medium, and large companies), as well as four provincial governments.

Where does Banco Macro generate most of its revenue?

The majority of Banco Macro's revenue is generated within Argentina.

What recent acquisition did Banco Macro complete?

Banco Macro recently acquired Banco Itaú Argentina S.A., Itaú Asset Management S.A., and Itaú Valores S.A. from Itaú Unibanco Holding S.A. for around US$50 million.

How does Banco Macro ensure transparency with its investors?

Banco Macro maintains transparency by regularly publishing detailed financial statements and reports, and holding earnings release conference calls.

When did Banco Macro announce its second quarter results for 2023?

Banco Macro announced its second quarter results for 2023 on August 23, 2023.

How does Banco Macro adjust its financial figures for inflation?

Banco Macro applies IAS 29 to restate its financial figures, reflecting the accumulated effect of inflation adjustments for each period.

What is the significance of Banco Macro's acquisition of Itaú's subsidiaries?

The acquisition of Itaú's subsidiaries will enhance Banco Macro's market presence and expand its range of services.

How can investors participate in Banco Macro's earnings release calls?

Investors can participate by dialing in using provided toll-free numbers or by accessing the webcast links available on the Banco Macro Investor Relations website.

What are Banco Macro's recent financial performance highlights?

Banco Macro has reported strong earnings in its recent quarterly results, reflecting robust financial performance despite the economic challenges in Argentina.

Banco Macro S.A.

NYSE:BMA

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3.49B
628.18M
7.29%
1.3%
Commercial Banking
Finance and Insurance
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United States of America
Zona Norte