Edition:
United States

Profile: Banco Macro SA (BMA)

BMA on New York Consolidated

68.90USD
2 Dec 2016
Change (% chg)

$-1.72 (-2.44%)
Prev Close
$70.62
Open
$70.91
Day's High
$71.18
Day's Low
$67.85
Volume
88,843
Avg. Vol
88,806
52-wk High
$83.18
52-wk Low
$51.60

Banco Macro S.A., incorporated on October 8, 1996, offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. In addition, the Bank performs certain transactions through its subsidiaries, including mainly Banco del Tucuman, Macro Bank Limited, Macro Securities S.A., Macro Fiducia S.A. and Macro Fondos S.G.F.C.I. S.A. It has approximately two categories of customers, such as retail customers, including individuals and entrepreneurs and corporate customers, which include small, medium and large companies and major corporations. In addition, it provides services to over four provincial governments.

Retail customers

Retail customers are classified according to their labor condition or their main income source, in various categories, including Plan Sueldo (Salary Plan), Retired, Open Market and Professionals and Business. It provides services to them throughout Argentina, in particular outside the City of Buenos Aires, which has higher concentrations of low- and middle-income individuals that are traditionally underserved by large private banks. It serves its retail customers through its branch network across the nation. It 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, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automatic teller machines (ATMs) and money transfers. It generates fees from providing account maintenance, account statements, check processing and other direct banking transactions, direct debits, fund transfers, payment orders and bank debit cards.

Corporate 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. Most of its lending activity consists of working capital loans to small- and medium-sized businesses. It offers short-term and medium- to long-term corporate lending products. Its short-term products include credit lines for approximately 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. Short-term products also include contingency lines, such as short-term guarantees (performance guarantees and bid bonds) and import letters of credit. Medium- to long-term products include credit lines and specific lending facilities of over 180 days. Credits are usually asset-based, such as leasing, whereby a credit enhancement is achieved by means of the underlying asset.

The Bank offers transaction services to its corporate customers, such as cash management, collection services, payments to suppliers, payroll services, foreign exchange transactions, foreign trade services, corporate credit cards, and information services, such as its Datanet and Interpymes services. Its payments to suppliers service enable its customers to meet their payment obligations to their suppliers. Its payments to suppliers service also provides payment liquidations, tax payment receipts, invoices and any other documents required by the payer. Its collection services include cash or check deposits at its approximately 440 branches, automatic and direct debits from checking or savings accounts and the transportation of funds collected from corporate customers to its branches for deposit. It provides its corporate clients with access to the Datanet service, which is an electronic banking network linking member banks in Argentina. Datanet services permit its clients to obtain online information on a real-time basis from their bank accounts in Datanet, as well as, to perform certain transactions.

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.

Company Address

Banco Macro SA

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

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