Banco Macro Announces Results for the Fourth Quarter of 2025

Rhea-AI Summary

Banco Macro (NYSE: BMA) reported 4Q25 net income of Ps.100.1 billion and full-year 2025 net income of Ps.290.7 billion, recovering from the prior quarter but down 26% versus 4Q24. Operating income before G&A was Ps.1.17 trillion. Total deposits reached Ps.13.69 trillion (76% of liabilities). Total financing was Ps.10.71 trillion. Excess capital stood at Ps.3.61 trillion with a 30.6% Basel III capital ratio and Tier 1 ratio. Liquidity covered 73% of deposits; NPL ratio was 3.87% with 119.86% coverage. The company will host its 4Q25 earnings call on Feb 26, 2026.

Positive

• Net income recovered to Ps.100.1 billion in 4Q25
• Total deposits of Ps.13.69 trillion, up 24% YoY
• Total financing of Ps.10.71 trillion, up 40% YoY
• Excess capital of Ps.3.61 trillion and 30.6% CAR
• Liquid assets equal to 73% of total deposits

Negative

• 4Q25 net income was 26% lower than 4Q24
• Non-recurring expenses of Ps.82.9 billion reduced reported earnings
• Operating income after G&A was 4% below 4Q24
• USD financing declined 20% QoQ, signaling FX mix shift

Key Figures

4Q25 net income: Ps.100.1 billion FY2025 net income: Ps.290.7 billion ROAE: 5.1% +5 more

8 metrics

4Q25 net income Ps.100.1 billion Fourth quarter 2025 net income, in constant pesos

FY2025 net income Ps.290.7 billion Full-year 2025 net income, in constant pesos

ROAE 5.1% Accumulated annualized return on average equity in 4Q25

ROAA 1.4% Accumulated annualized return on average assets in 4Q25

Operating income pre-expenses Ps.1.17 trillion 4Q25 operating income before G&A and personnel expenses

Total deposits Ps.13.69 trillion 4Q25 total deposits, up QoQ and YoY

Capital Adequacy Ratio 30.6% Basel III capital adequacy ratio in 4Q25

NPL ratio 3.87% Non-performing to total financing ratio in 4Q25

Market Reality Check

Price: $89.27 Vol: Volume 133,315 vs 20-day ...

low vol

$89.27 Last Close

Volume Volume 133,315 vs 20-day average 271,550 (relative volume 0.49x) ahead of the earnings release. low

Technical Shares at 89.27, trading above 200-day MA of 75.39, and 15.9% below the 52-week high.

Peers on Argus

BMA was down 1.05% in the prior session while key U.S. regional bank peers (BOH,...

BMA was down 1.05% in the prior session while key U.S. regional bank peers (BOH, BKU, CBU, FULT, WSFS) were modestly higher, suggesting stock-specific factors rather than a sector-wide move.

Previous Earnings Reports

5 past events · Latest: Nov 26 (Negative)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 26	Q3 2025 earnings	Negative	+4.3%	9M25 net income down with weaker operating income yet shares rose post-release.
Aug 27	Q2 2025 earnings	Positive	+3.6%	Strong rebound in net income and operating income growth supported a positive reaction.
May 28	Q1 2025 earnings	Negative	-5.7%	Sharp declines in net income and operating income coincided with a share price drop.
Apr 21	2024 20-F filing	Neutral	+4.8%	Formal filing of audited 2024 annual report prompted a modestly positive reaction.
Feb 26	Q4 2024 earnings	Positive	-8.7%	Net income growth and strong solvency were followed by a notable share price decline.

Pattern Detected

Earnings and related filings have produced mixed but generally modest reactions, with some negative reports sold off and stronger or neutral releases occasionally bid up.

Recent Company History

Over the past year, Banco Macro’s earnings cycle showed volatility in fundamentals and share reactions. Q1 2025 results featured sharp profit declines and the stock fell. A strong rebound in Q2 2025 net income was followed by a positive price move. Q3 2025 results highlighted weaker 9M profitability but the stock rose. The 2024 annual 20‑F filing and Q4 2024 earnings each triggered sizable but opposite moves. Today’s 4Q25 report fits into this pattern of fluctuating earnings under a still-solid capital base.

Historical Comparison

-0.3% avg move · Across the last 5 earnings-related releases, average next-day move was -0.31%, indicating generally ...

earnings

-0.3%

Average Historical Move earnings

Across the last 5 earnings-related releases, average next-day move was -0.31%, indicating generally muted price responses to Banco Macro’s results.

Earnings updates have tracked a volatile 2025: weaker Q1, strong rebound in Q2, softer trends in Q3, and now a Q4 2025 report that combines YoY pressure with solid capital ratios.

Market Pulse Summary

This announcement details Banco Macro’s 4Q25 results, with net income of Ps.100.1 billion and operat...

Analysis

This announcement details Banco Macro’s 4Q25 results, with net income of Ps.100.1 billion and operating income before expenses of Ps.1.17 trillion. The bank highlights strong solvency, including Ps.3.61 trillion in excess capital and a 30.6% capital adequacy ratio, plus liquid assets equal to 73% of deposits. Key watchpoints include the 26% YoY net income decline, the 3.87% NPL ratio, and how deposit and financing trends evolve in Argentina’s macro environment.

Key Terms

ias 29, roae, roaa, basel iii, +2 more

6 terms

ias 29 technical

"have been restated applying IAS 29 to reflect the accumulated effect"

IAS 29 is an accounting rule that tells companies how to adjust their financial statements when they operate in economies with very high inflation, so numbers reflect current purchasing power rather than outdated prices. For investors, it matters because it converts historic figures into meaningful, comparable values—like updating old price tags to today’s dollars—helping assess real profits, assets and liabilities and avoid being misled by inflation-distorted results.

roae financial

"accumulated annualized return on average equity ("ROAE") and the accumulated"

ROAE stands for Return on Average Equity, a profitability ratio that shows how much net income a company generates for its owners relative to the average amount of shareholder equity invested over a period. It’s like measuring the interest rate a business pays its owners on the capital they’ve left in the company, with the ‘average’ smoothing out swings in equity during the year. Investors use ROAE to compare how efficiently different companies turn owner capital into profits and to assess management’s ability to deliver returns over time.

roaa financial

"annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA")"

Return on Average Assets (ROAA) measures how efficiently a company turns its assets into profit by dividing net profit over a period by the average total assets it held during that period. It matters to investors because it shows whether a business is getting a good return from what it owns—like judging a car’s fuel efficiency by miles per gallon—helping compare profitability across companies of different sizes.

basel iii regulatory

"EXCESS CAPITAL of Ps.3.61 trillion, 30.6% Capital Adequacy Ratio – Basel III and 30.6 %"

An international set of banking rules that tells banks how much high-quality capital and readily available cash they must hold and how to manage risk, like a safety checklist for lenders. Investors care because these rules influence how safely banks can absorb losses, how much they can lend, and therefore their profits, dividend capacity and the chance of government support in a crisis — think of it as requirements that trade some short-term profit potential for longer-term financial stability.

tier 1 ratio financial

"30.6% Capital Adequacy Ratio – Basel III and 30.6 % Tier 1 Ratio."

Tier 1 ratio measures a bank’s core capital — primarily common equity and retained earnings — against the total of its loans and investments after those assets are adjusted for their riskiness. It tells investors how big a loss-absorbing cushion the bank has relative to the risks it’s taken; think of it as the safety margin under a bridge that shows whether the institution can withstand shocks without failing.

non-performing to total financing ratio financial

"the Bank's NON-PERFORMING TO TOTAL FINANCING RATIO was 3.87%"

The non-performing to total financing ratio measures the share of a lender’s outstanding loans or financing that are not being repaid on schedule, expressed as a percentage of all loans. Investors use it as a quick gauge of credit quality and potential future losses—like checking what fraction of apples in a basket are rotten—because a higher ratio suggests greater risk to earnings, capital and the lender’s ability to lend safely.

AI-generated analysis. Not financial advice.

BUENOS AIRES, Argentina, Feb. 26, 2026 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BYMA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the fourth quarter ended December 31, 2025 ("4Q25").  All figures are in Argentine pesos (Ps.) and have been restated in terms of the measuring unit current at the end of the reporting period. For ease of comparison, figures of previous quarters of 2024 and 2025 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through December 31, 2025.

Summary

• THE BANK'S NET INCOME totaled Ps.100.1 billion in 4Q25 (Ps.290.7 billion in FY2025) recovering from the loss posted in the previous quarter. This result was 26% or Ps.34.4 billion lower than the result posted in 4Q24. In 4Q25, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 5.1% and 1.4%, respectively. Excluding non-recurring expenses (Ps.82.9 billion) 4Q25 net income would have totaled Ps.183 billion (Ps.393.7 billion in FY2025) and the accumulated ROAE and ROAA would have been 6.6% and 1.8% respectively.
• In 4Q25, OPERATING INCOME (before G&A and personnel expenses) totaled Ps.1.17 trillion, 39% or Ps.324.2 billion higher than in 3Q25 and 9% or Ps.94.4 trillion higher than the same period of last year.
• In 4Q25, OPERATING INCOME (after G&A and personnel expenses) totaled Ps.453.2 billion, 156% or Ps.275.9 billion higher than in 3Q25 and 4% or Ps.20.3 billion lower than the same period of last year.
• In 4Q25, BANCO MACRO'S TOTAL FINANCING decreased 2% or Ps.210.6 billion quarter over quarter ("QoQ") totaling Ps.10.71 trillion and increased 40% or Ps.3.08 trillion year over year ("YoY"). In 4Q25 peso financing increased 2% while USD financing decreased 20%.
• In 4Q25, BANCO MACRO'S TOTAL DEPOSITS increased 8% or Ps.958.1 billion QoQ and increased 24% or Ps.2.61 trillion YoY, totaling Ps.13.69 trillion and representing 76% of the Bank's total liabilities. Private sector deposits increased 11% or Ps.1.27 trillion QoQ. In 4Q25, Peso deposits increased 3% while USD deposits increased 10%.
• Banco Macro continued showing a strong solvency ratio, with an EXCESS CAPITAL of Ps.3.61 trillion, 30.6% Capital Adequacy Ratio – Basel III and 30.6 % Tier 1 Ratio. In addition, the Bank's LIQUID ASSETS remained at an adequate level, reaching 73% of its total deposits in 4Q25..
• In 4Q25, the Bank's NON-PERFORMING TO TOTAL FINANCING RATIO was 3.87% and the COVERAGE RATIO reached 119.86%.
• As of 4Q25, through its 444 branches and 8.490 employees Banco Macro serves 6.36 million retail customers (2.57 million digital customers) across 23 of the 24 Provinces in Argentina and over 224,969 corporate customers.

4Q25 Earnings Conference Call

Thursday, February 26, 2026
Time: 11:00 a.m. Eastern Time | 1:00 p.m. Buenos Aires Time Time: 11:00 a.m. Eastern Time | 1:00 p.m. Buenos Aires Time

To participate, please register here: Banco Macro 4Q25 Earnings Call

IR Contacts in Buenos Aires:

Jorge Scarinci
Chief Financial Officer

Nicolás A. Torres
Investor Relations

Phone: (54 11) 5222 6682 
E-mail: investorelations@macro.com.ar 

View original content:https://www.prnewswire.com/news-releases/banco-macro-announces-results-for-the-fourth-quarter-of-2025-302698187.html

SOURCE BANCO MACRO S.A.

FAQ

What was Banco Macro (BMA) net income for 4Q25 and FY2025?

Banco Macro reported Ps.100.1 billion net income in 4Q25 and Ps.290.7 billion for FY2025. According to the company, results recovered from the prior quarter but were 26% lower versus 4Q24, partly due to non-recurring expenses.

Why did Banco Macro (BMA) deposits grow in 4Q25 and by how much?

Deposits increased 8% QoQ and 24% YoY, totaling Ps.13.69 trillion in 4Q25. According to the company, private sector deposits rose 11% QoQ, with peso deposits up 3% and USD deposits up 10%.

What is Banco Macro's (BMA) capital position and Basel III ratio in 4Q25?

Banco Macro reported an excess capital buffer of Ps.3.61 trillion and a 30.6% Capital Adequacy Ratio under Basel III. According to the company, the Tier 1 ratio was also 30.6%, indicating strong solvency.

What were Banco Macro's (BMA) liquidity and coverage metrics in 4Q25?

Liquid assets covered 73% of total deposits and loan coverage reached 119.86% in 4Q25. According to the company, the non-performing to total financing ratio was 3.87%, supporting high coverage levels.

How did Banco Macro's (BMA) financing mix change in 4Q25 between pesos and USD?

Total financing was Ps.10.71 trillion; peso financing rose 2% while USD financing fell 20% QoQ. According to the company, overall financing increased 40% YoY despite the QoQ USD contraction.

When is Banco Macro's (BMA) 4Q25 earnings conference call and how can investors attend?

The 4Q25 earnings call is scheduled for Feb 26, 2026 at 11:00 a.m. ET (1:00 p.m. Buenos Aires). According to the company, investors must register to participate via the bank's investor relations registration link.