Banco Macro Announces Results for the Third Quarter of 2025

Rhea-AI Summary

Banco Macro (NYSE: BMA) reported results for the third quarter ended September 30, 2025. 9M25 net income was Ps.176.7 billion, down 35% YoY. Accumulated annualized ROAE and ROAA were 4.5% and 1.3%, respectively. Operating income (after G&A and personnel) for 9M25 was Ps.1.03 trillion, down 64% YoY.

In 3Q25 total financing reached Ps.10.12 trillion (+69% YoY; +3% QoQ). Total deposits were Ps.11.81 trillion (+11% YoY; +5% QoQ), representing 75% of liabilities. The bank reported excess capital Ps.3.30 trillion, Basel III CAR 29.9%, Tier 1 29.2%, liquid assets equal to 67% of deposits, NPL ratio 3.19% and coverage 120.87%. Network: 469 branches, 8,811 employees, 6.29M retail customers.

Positive

• Total financing +69% YoY to Ps.10.12 trillion
• Total deposits +11% YoY to Ps.11.81 trillion
• Excess capital of Ps.3.30 trillion
• Basel III Capital Adequacy Ratio at 29.9%
• Liquid assets equal 67% of total deposits
• Coverage ratio at 120.87%

Negative

• Net income down 35% YoY to Ps.176.7 billion
• Operating income down 64% YoY to Ps.1.03 trillion
• Accumulated annualized ROAE at 4.5%
• Peso financing decreased 2% QoQ; peso deposits decreased 1% in 3Q25

News Market Reaction

+7.48%

4 alerts

+7.48% News Effect

-4.7% Trough Tracked

+$367M Valuation Impact

$5.28B Market Cap

1.5x Rel. Volume

On the day this news was published, BMA gained 7.48%, reflecting a notable positive market reaction. Argus tracked a trough of -4.7% from its starting point during tracking. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $367M to the company's valuation, bringing the market cap to $5.28B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

9M25 net income: Ps.176.7 billion Net income change: 35% lower YoY Operating income: Ps.1.03 trillion +5 more

8 metrics

9M25 net income Ps.176.7 billion First nine months of 2025; 35% lower than same period last year

Net income change 35% lower YoY 9M25 vs 9M24 net income

Operating income Ps.1.03 trillion 9M25 after G&A and personnel expenses; 64% lower YoY

ROAE 4.5% Accumulated annualized return on average equity as of 3Q25

Total financing Ps.10.12 trillion 3Q25; +3% QoQ and +69% YoY

Total deposits Ps.11.81 trillion 3Q25; +5% QoQ and +11% YoY; 75% of liabilities

Capital Adequacy Ratio 29.9% Basel III capital adequacy ratio in 3Q25

NPL ratio & coverage 3.19% NPL; 120.87% coverage Non-performing to total financing and coverage in 3Q25

Market Reality Check

Price: $101.90 Vol: Volume 336,423 is below 2...

normal vol

$101.90 Last Close

Volume Volume 336,423 is below 20-day average 440,401 (relative volume 0.76). normal

Technical Price 89.45 is trading above 200-day MA at 72.97, indicating a pre-news upward trend.

Peers on Argus

Pre-news moves in regional bank peers were mixed, with changes from -0.14% (BOH)...

Pre-news moves in regional bank peers were mixed, with changes from -0.14% (BOH) to gains of 1.74% (BKU), suggesting stock-specific rather than sector-wide drivers for BMA.

Historical Context

4 past events · Latest: Nov 26 (Negative)

Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Nov 26	Quarterly earnings	Negative	+7.5%	3Q25 results with lower 9M net and operating income but strong ratios.
Oct 08	Share buyback	Positive	+3.2%	Announcement of sizeable Class B share buyback authorization.
Aug 27	Quarterly earnings	Positive	+3.6%	Q2 2025 results with sharply higher net income and strong capital.
Jun 17	Debt offering	Neutral	-0.2%	Pricing of US$400M notes due 2029 under MTN program.

Pattern Detected

Recent history shows generally positive price reactions to earnings and capital actions, with one divergence where shares rose despite weaker YoY profitability.

Recent Company History

Over the last several months, Banco Macro reported volatile earnings but consistently strong capital and liquidity. Q4 2024 and Q1 2025 showed pressured profitability, followed by stronger Q2 2025 results with higher net income and solid asset quality. A June 2025 notes offering added term funding, and an October 2025 buyback program signaled capital deployment. The current 3Q25 release highlights lower YoY income but robust solvency, fitting into a narrative of cyclical earnings against a strong balance sheet.

Market Pulse Summary

The stock moved +7.5% in the session following this news. A strong positive reaction aligns with pri...

Analysis

The stock moved +7.5% in the session following this news. A strong positive reaction aligns with prior earnings-related moves, where the stock often shifted by around mid-single digits after results. The 3Q25 release mixed weaker 9M25 income with solid capital ratios and liquidity, similar to earlier periods. Investors reviewing sustainability could weigh loan and deposit growth, asset quality metrics like the 3.19% NPL ratio, and how future quarters track against the recent 35% YoY profit decline.

Key Terms

IAS 29, ROAE, ROAA, Basel III, +3 more

7 terms

IAS 29 regulatory

"figures of previous quarters of 2024 have been restated applying IAS 29"

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

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

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

"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

"29.9% Capital Adequacy Ratio – Basel III and 29.2% Tier 1 Ratio"

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

"Capital Adequacy Ratio – Basel III and 29.2% 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 financial

"the Bank's NON-PERFORMING TO TOTAL FINANCING RATIO was 3.19%"

Non-performing describes a loan, asset, or investment that is no longer producing the expected income because payments or returns have stopped or fallen behind — like a rental property whose tenant has stopped paying rent. It matters to investors because rising levels of non-performing items signal greater risk of losses, lower cash flow and reduced asset values, and can indicate worsening financial health that may hurt future returns.

liquid assets financial

"the Bank's LIQUID ASSETS remained at an adequate level, reaching 67% of its total deposits"

Assets that can be turned into cash quickly and without losing much value, such as cash on hand, bank deposits, and commonly traded stocks or bonds. For investors, liquidity matters because it shows how easily a company or portfolio can meet short-term bills, handle unexpected needs, or seize opportunities — like having money in your wallet versus owning something hard to sell, such as real estate or specialized equipment.

AI-generated analysis. Not financial advice.

BUENOS AIRES, Argentina, Nov. 26, 2025 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; BYMA: BMA) ("Banco Macro" or "BMA" or the "Bank") announced today its results for the third quarter ended September 30, 2025 ("3Q25").  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 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through September 30, 2025.

Summary

• IN THE FIRST 9 MONTHS OF 2025 ("9M25") THE BANK'S NET INCOME totaled Ps.176.7 billion. This result was 35% or Ps.95.2 billion lower than the result posted in the same period of last year. As of 3Q25, the accumulated annualized return on average equity ("ROAE") and the accumulated annualized return on average assets ("ROAA") were 4.5% and 1.3%, respectively.
• In 9M25, OPERATING INCOME (after G&A and personnel expenses) totaled Ps.1.03 trillion, 64% or Ps.1.84 trillion lower than in 9M24.
• In 3Q25, BANCO MACRO'S TOTAL FINANCING increased 3% or Ps.332.4 billion quarter over quarter ("QoQ") totaling Ps.10.12 trillion and increased 69% or Ps.4.13 trillion year over year ("YoY"). In 3Q25 USD financing increased 10% while peso financing decreased 2%..
• In 3Q25, BANCO MACRO'S TOTAL DEPOSITS increased 5% or Ps.556.4 billion QoQ and increased 11% or Ps.1.17 trillion YoY, totaling Ps.11.81 trillion and representing 75% of the Bank's total liabilities. Private sector deposits increased 6% or Ps.604.9 billion QoQ. In 3Q25, Peso deposits decreased 1% while USD deposits increased 3%.
• Banco Macro continued showing a strong solvency ratio, with an EXCESS CAPITAL of Ps.3.30 trillion, 29.9% Capital Adequacy Ratio – Basel III and 29.2% Tier 1 Ratio. In addition, the Bank's LIQUID ASSETS remained at an adequate level, reaching 67% of its total deposits in 3Q25.
• In 3Q25, the Bank's NON-PERFORMING TO TOTAL FINANCING RATIO was 3.19% and the COVERAGE RATIO reached 120.87%.
• As of 3Q25, through its 469 branches and 8,811 employees Banco Macro serves 6.29 million retail customers (2.5 million digital customers) across 23 of the 24 Provinces in Argentina and over 219,235 corporate customers.

3Q25 Earnings Release Conference Call
Monday, December 1, 2025
Time: 11:00 a.m. Eastern Time | 1:00 p.m. Buenos Aires Time

To participate, please register here:

Banco Macro 3Q25 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

Visit our website at: www.macro.com.ar/relaciones-inversores

View original content:https://www.prnewswire.com/news-releases/banco-macro-announces-results-for-the-third-quarter-of-2025-302627163.html

SOURCE Banco Macro S.A.

FAQ

What was Banco Macro's net income for 9M25 and how did it change year-over-year (NYSE: BMA)?

Banco Macro reported 9M25 net income of Ps.176.7 billion, a 35% decrease YoY.

How large were Banco Macro's total deposits and what was the YoY change in 3Q25 (BMA)?

Total deposits were Ps.11.81 trillion in 3Q25, up 11% YoY and representing 75% of liabilities.

What capital and liquidity metrics did Banco Macro report for 3Q25 (NYSE: BMA)?

Banco Macro reported excess capital Ps.3.30 trillion, CAR 29.9%, Tier 1 29.2%, and liquid assets equal to 67% of deposits.

What were Banco Macro's asset quality metrics in 3Q25 and coverage levels (BMA)?

Non-performing to total financing ratio was 3.19% and coverage ratio was 120.87% in 3Q25.

How did Banco Macro's total financing split by currency change in 3Q25 (BMA)?

In 3Q25 USD financing increased 10% QoQ while peso financing decreased 2% QoQ.

When is Banco Macro's 3Q25 earnings conference call and how can investors participate (BMA)?

The earnings call is on December 1, 2025 at 11:00 a.m. ET; investors can register via the company's investor relations channels.