Profile: Banco Macro SA (BMA)
12 Feb 2016
Banco Macro S.A. (the Bank), incorporated on October 8, 1966, is a bank. The Bank offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. The Bank focuses on low- and middle-income individuals and small- and medium-sized businesses, located outside of the City of Buenos Aires. The Bank offers savings and checking accounts, credit and debit cards, consumer finance loans (including personal loans), mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automatic teller machines (ATMs) and money transfers. The Bank offers Plan Sueldo payroll services, lending, corporate credit cards, mortgage finance, transaction processing and foreign exchange. 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 offers personal loans, document discounts, (housing) mortgages, overdrafts, pledged loans and credit card loans to its retail customers. The Bank offers short-term and medium- to long-term corporate lending products to its corporate customers. The short-term products include credit lines for up to 180 days and consist 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. These products also include contingency lines, such as short-term guarantees (performance guarantees and bid bonds) and import letters of credit. The medium- to long-term products include credit lines and specific lending facilities of more than 180 days. As of December 31, 2014, the Bank's total loans were $44.93 million.
The Bank owns, manages and trades a portfolio of securities issued by the Argentine and other Governments and private issuers. The Bank's securities are classified as Government securities, listed private securities and unlisted private securities. As of December 31, 2014, the Bank's total securities were $11.28 million.
Sources of Funds
The Bank's principal source of funding is deposits from individuals and corporate clients located in Argentina. Deposits include checking accounts, savings accounts and time deposits. The Bank borrowed funds under various credit facilities from the Central Bank, International banks and institutions and the Argentine financial institutions. As of December 31, 2014, the Bank's total deposits were $6,398.1 million.
The Bank competes with Banco Santander Rio S.A., Banco de Galicia y Buenos Aires S.A., BBVA Banco Frances S.A., HSBC Bank Argentina S.A. and Banco Patagonia S.A.
Banco Macro SA
Sarmiento 447 Piso 7
BUENOS AIRES 1041