Profile: Banco Macro SA (BMA)

BMA on New York Consolidated

53.12USD
22 May 2015
Change (% chg)

$-0.77 (-1.43%)
Prev Close
$53.89
Open
$53.75
Day's High
$53.77
Day's Low
$52.12
Volume
104,323
Avg. Vol
155,112
52-wk High
$67.00
52-wk Low
$28.03

Search Stocks

Banco Macro S.A. (the Bank), incorporated on November 21, 1966, is a bank in Argentina. The Bank provides standard banking products and services to a nationwide customer base. The Bank has two categories of customers: retail customers, which include individuals and very small companies, and corporate customers, which include small, medium and large companies and major corporations. In addition, it provides services to four provincial governments. The Bank offers a range of standard products, which are available to both its retail and corporate customers. Retail customers are individuals, entrepreneurs and very small companies (companies with less than Pesos one million in sales per year). It provides services to them throughout Argentina, in particular outside of the City of Buenos Aires, which has higher concentrations of low- and middle-income individuals who are traditionally underserved by large private banks. The Bank serves its retail customers through its nationwide branch network. Approximately 94% of the Bank’s branches are located outside of the City of Buenos Aires.

The Bank offers its retail customers traditional banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans (including personal loans), mortgage loans, car loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines (ATMs) and money transfers. The Bank offers personal loans, document discounts, (housing) mortgages, overdrafts, pledged loans and credit card loans to its retail customers.

The Bank provides its corporate customers with traditional banking products and services, such as deposits, lending (including overdraft facilities), check cashing advances and factoring, guaranteed loans and credit lines for financing foreign trade and cash management services. It also provides them trust, payroll and financial agency services, corporate credit cards and other specialty products. The corporate business is focused on the classification by sizes and sectors. The Bank has four categories for its corporate customers: small companies, which register up to Pesos 52 million in sales per year; medium companies, which register more than Pesos 52 million and less than Pesos 150 million in sales per year; major companies, which register more than Pesos 150 million in sales per year, and agro companies, which operate in agriculture or in the commerce of its products (approximately 97% of its corporate customers are small businesses).

The Bank’s lending activities to the corporate sector (defined here as firms with loans outstanding in excess of Pesos 20,000) totaled Pesos 4,985 million. Most of its lending activity consists of working capital loans to small and medium-sized businesses. The Bank offers short-term and medium- to long-term corporate lending products. Short-term products include credit lines for up to 180 days and consist mainly of overdraft facilities, corporate credit and debit cards and factoring, as well as foreign trade related financing, such as pre-export, post-shipment and import financing. Medium-to long-term products include credit lines and specific lending facilities of more than 180 days.

The Bank offers transaction services to its corporate customers, such as cash management, customer collections, payments to suppliers, payroll administration, foreign exchange transactions, foreign trade services, corporate credit cards and information services, such as its Datanet and Interpymes services. The Bank’s payments to suppliers’ services enable its customers to meet their payment obligations to their suppliers on a timely basis through a system. This service also provides payment liquidations, tax payment receipts, invoices and any other documents required by the payer.

The Bank’s collection services include cash or check deposits at its 408 branches, automatic and direct debits from checking or savings accounts and the transportation of funds collected from corporate customers to its branches for deposit. The Bank provides its corporate clients with access to the Datanet service, which is an electronic banking network linking member banks in Argentina. These services permit its clients to obtain reliable online information on a real-time basis from their bank accounts in Datanet, as well as perform certain transactions. The Bank also provides tax collection and financial agency services to four provinces.

The Bank competes with Santander Rio, Banco de Galicia y Buenos Aires S.A., BBVA Banco Frances S.A., HSBC Argentina S.A. and Banco Patagonia S.A.

Company Address

Banco Macro SA

Sarmiento 447 Piso 7
BUENOS AIRES     1041
P: +5411.52226500
F: +5411.52226325

Company Web Links

Search Stocks