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Banco Macro
Banco Macro (BMA) investor relations material
Banco Macro Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
Net income for Q4 2025 was ARS 100.1 billion, recovering from a prior quarter loss but 26% lower year-over-year; FY 2025 net income was ARS 290.7 billion, down 32% from FY 2024.
Excluding ARS 82.9 billion in non-recurring restructuring expenses, adjusted Q4 net income was ARS 183 billion and FY 2025 net income was ARS 393.7 billion; adjusted ROE and ROA were 6.6% and 1.8% respectively.
The bank reduced its branch network by 75 and headcount by 514 in 2025, while gaining market share in loans and deposits.
Operating income after G&A and personnel expenses for Q4 2025 was ARS 453.2 billion, up 156% sequentially but 4% lower year-over-year.
Financial highlights
Net interest income in Q4 2025 was ARS 836.5 billion, up 13% sequentially and 19% year-over-year; FY 2025 net interest income rose 44% to ARS 3.1 trillion.
Provision for loan losses in Q4 2025 was ARS 169.3 billion, up 234% year-over-year; FY 2025 provision rose 274% to ARS 538.1 billion.
Net interest margin in Q4 2025 was 21.7%, up from 18.7% in Q3 but down from 24.7% a year ago.
Administrative expenses plus employee benefits in Q4 2025 totaled ARS 412.4 billion, up 15% sequentially and 20% year-over-year.
Net fee income for Q4 2025 was ARS 192.4 billion, up 1% sequentially and 8% year-over-year; FY 2025 net fee income increased 20% to ARS 767.4 billion.
Outlook and guidance
2026 guidance: 20% real loan growth, 6% real deposit growth, adjusted ROE around 8%, and ROA near 1.8–2%.
Cost of risk forecasted at 5.2% for 2026, slightly below 2025's 5.6%.
Reported ROE expected around 5% in 2026, with adjusted ROE at 8%.
NPL ratio expected to trend to mid-to-low 3% range in 2026, with improvements more likely in the second half.
Mid-teen ROEs anticipated by 2028–2030 as restructuring benefits are fully realized and inflation normalizes.
Management highlighted ongoing focus on asset quality, capital strength, and efficiency, with continued market share gains in private sector loans and deposits.
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Next Banco Macro earnings date
Q1 202628 May, 2026
Banco Macro
Next Banco Macro earnings date
Q1 202628 May, 2026
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Frequently asked questions
Banco Macro S.A. is a financial institution providing a range of banking services primarily in Argentina. The company's offerings include savings and checking accounts, personal and business loans, credit and debit cards, and investment products. It serves individual customers, small and medium-sized enterprises, and large corporations, providing financial solutions tailored to meet diverse client needs. Banco Macro also offers digital banking services through online platforms and mobile applications. The company is headquartered in Buenos Aires, Argentina, and its shares are listed on the NYSE.
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