|Banco Macro head office|
Banco Macro S.A. (NYSE: BMA; Buenos Aires: BMA) is the second-largest domestically-owned private bank in Argentina with over 3.3 million retail and corporate customers. It is the only Bank that can show 56 consecutive quarters with profit. Banco Macro provides a broad range of standard banking products which are available to both retail and business customers. It offers checking and savings accounts, time deposits, Visa and Amex credit cards, personal and car loans, mortgage loans, overdrafts, home and auto insurance as well as corporate banking products, online banking and other services. Grupo Macro brands include Banco Macro, Nuevo Banco Suquía, Nuevo Banco Bisel, and Banco del Tucumán. Other subsidiaries include offshore financial institution Macro Bank Ltd (Bahamas), formerly Sud Bank & Trust. Banco Macro was established in 1976 and today operates 437 branches and 1,322 ATMs nationwide. It was formerly known as Banco Macro Bansud S.A. and changed its name to Banco Macro in 2006. In the same year, it was listed on the New York Stock Exchange, becoming the first Argentine company to be listed abroad since 1997. In 2010, Banco Macro acquired rival Banco Privado de Inversiones. As of September 30, 2015, the company had total assets of Ar$ 95.607 billion, loans of Ar$ 56,296 billion, deposits of Ar$ 69.458 billion, total equity of Ar$ 13.909 billion and employed 8,717 people.
|Total assets||Ar$ 95.607 billion (9/2015)|
|Revenue||Ar$ 11.110 billion (2014)|
|Net Income||Ar$ 3.480 billion (2014)|
Banco Macro subsidiaries:
Banco del Tucumán S.A.
Macro Bank Limited (Bahamas)
Macro Securities S.A.
Macro Fiducia S.A.
Macro Fondos S.G.F.C.I.
Head office address:
1041 Buenos Aires
Banco Macro History
Banco Macro started as a non-banking financial institution in 1985, through the purchase of Macro Financiera. In 1988, it was granted the authorization to operate as a Commercial Bank. In 1996, it began acquiring the capital stock of privatized provincial banks: Banco Misiones, Banco Salta and Banco Jujuy. Given the success achieved by such investment, it decided to strengthen the new "regional retail bank" strategy, through the purchase of the assets and liabilities of Banco Noroeste. Afterwards, it participated in the restructuring of the following Banks: Almafuerte Coop. Ltdo., Mayo S.A., Israelita de Córdoba S.A. and Mendoza S.A., incorporating branches in the northern and central areas of Argentina.
In 2001, the Bank extended its national presence through the purchase of 59.6% of the capital stock of Banco Bansud. This entity was a leader private bank in the southern part of Argentina, with significant background in its area of influence and a large branch network. Finally, in August 2002, it purchases 36 branches of Scotiabank Quilmes. Afterwards, the shareholders of Banco Macro and Banco Bansud decided to merge both financial institutions with the strategic objective of creating an institution with presence in the whole territory of Argentina. In December 2004, Macro Bansud acquired Nuevo Banco Suquía, thus becoming the third private bank in terms of net worth, the fourth in terms of deposits and the fifth in terms of credits to the private sector.
In 2005, Macro acquired Banco Empresario del Tucumán and Banco del Tucumán. These two institutions were made a part of the Macro Group, maintaining Banco del Tucumán as financial agent for the province and incorporating the branches of Banco Empresario del Tucumán to Macro. In 2006, it acquired Banco Bisel and with this acquisition, it had over 7,900 employees and 440 branches.
In March 2006, it changed its corporate name from Macro Bansud to Macro, and, at the same time, it started to be listed in the New York Stock Exchange (NYSE), where it was able to make its debut with rising prices for its shares, being the first company to be listed abroad since 1997. In October 2007, the merger with Nuevo Banco Suquía S.A. was performed. This enabled to increase presence in the argentinian provinces, with over 250 branches, and to be the number one bank in terms of deposits. In 2009, the merger with Nuevo Banco Bisel S.A. was realized, incorporating more than 150 branches. In September 2010, Grupo Macro acquired Banco Privado de Inversiones with the aim of reinforcing the strategy in Buenos Aires.