BMA
Financial ServicesBanco Macro S.A. · Banks - Regional · $5B
What is Banco Macro S.A.?
Banco Macro S.A. is one of Argentina's leading private-sector banks, serving both retail and corporate customers across the country. Headquartered in Buenos Aires, it offers a broad range of financial products through physical branches and digital channels.
Banco Macro generates revenue through traditional banking activities — collecting deposits and extending credit to individuals and businesses. On the retail side, it provides consumer loans, mortgages, credit cards, and savings accounts. For corporate clients, it offers trade finance, factoring, cash management, and working capital facilities. The bank also earns fee income from transaction services, payroll processing, foreign exchange, and digital banking platforms, making it a full-service financial institution within the Argentine market.
Banco Macro was established in 2006 and is headquartered in Buenos Aires, Argentina.
- Retail loans: consumer, mortgage, and auto financing
- Corporate lending and trade finance solutions
- Credit and debit cards with insurance products
- Cash management and payroll services for businesses
- Internet and mobile banking platforms
Is BMA a Good Stock to Buy?
UQS Score rates BMA as Below Average overall, reflecting meaningful structural challenges in the current operating environment.
The Risk and Valuation pillars stand out as relative positives. The bank's risk profile is rated Good, suggesting manageable exposure relative to peers, while the Valuation pillar also registers as Good — meaning the stock does not appear expensive relative to its fundamentals.
Both the Quality and Moat pillars are rated Weak, pointing to limited competitive differentiation and below-average business quality metrics. Growth is rated Neutral, offering little near-term upside catalyst.
Pro members can view the full pillar breakdown and underlying financial metrics to form a more complete picture of BMA. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does BMA pay dividends?
Yes — Banco Macro S.A. pays a dividend.
Banco Macro pays a regular dividend, which is notable for a bank operating in an emerging-market context. Dividend payments reflect the company's ability to generate distributable earnings despite Argentina's challenging macroeconomic backdrop. Investors seeking income from Latin American financial exposure may find BMA's dividend policy relevant, though currency and regulatory risks in Argentina can affect the real value of distributions.
When does BMA report earnings?
Banco Macro reports earnings on a quarterly cadence, consistent with its listing obligations as a US-traded ADR.
Results have been shaped by Argentina's volatile inflation environment, which affects both loan book growth and net interest margins in ways that differ significantly from developed-market banks. Revenue trends and credit quality metrics should be interpreted in that local context.
For the most recent quarter's results and management commentary, visit Banco Macro's official investor relations page.
BMA Price History
+594.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Banco Macro S.A.?
Based on Banco Macro S.A.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
BMA Long-term Outlook
The Growth pillar's Neutral rating suggests the bank is neither accelerating meaningfully nor contracting sharply on a fundamental basis. The Good Risk rating provides some reassurance that the balance sheet is not under acute stress. However, the Weak Quality and Moat ratings temper the longer-term outlook, as they indicate limited pricing power and below-average earnings durability. Argentina's macroeconomic trajectory remains the dominant variable for any forward-looking view on BMA.
Growth drivers
- Expansion of digital banking and mobile services in an underpenetrated market
- Potential recovery in Argentine credit demand as the macro environment stabilizes
- Fee income growth from corporate cash management and trade finance
Key risks
- Argentina's persistent inflation and currency volatility eroding real returns
- Regulatory and capital control changes affecting dividend repatriation
- Weak Moat rating signals limited ability to defend margins against competition
BMA vs Peers
BMA operates in a different geographic market than most of its listed peers, making direct comparisons instructive but context-dependent.
A US community bank focused on the South and Midwest, operating in a far more stable regulatory and currency environment than BMA.
Known for its specialty real estate lending in the United States, Bank OZK competes in a mature, rule-of-law banking market with different risk dynamics.
A Peruvian financial conglomerate offering the closest emerging-market Latin American parallel to BMA's business model and customer base.
Frequently Asked Questions
What does Banco Macro do?
Banco Macro is a full-service Argentine bank providing retail and corporate banking products. Services include consumer loans, mortgages, credit cards, trade finance, cash management, and digital banking. It operates across Argentina through a branch network and mobile platforms, serving both individual customers and businesses of varying sizes.
Does BMA pay dividends?
Yes, Banco Macro pays a regular dividend. The bank distributes a portion of its earnings to shareholders, which is notable given its emerging-market operating context. Investors should be aware that Argentina's currency controls and regulatory environment can influence the effective value of dividends received outside the country.
When does BMA report earnings?
Banco Macro reports on a quarterly cadence as a US-listed ADR. Specific dates vary each quarter. For the most current earnings schedule and recent results, check Banco Macro's investor relations page directly.
Is BMA a good stock to buy?
UQS Score rates BMA as Below Average overall. The Risk and Valuation pillars are rated Good, but Quality and Moat are both Weak. Whether BMA fits a portfolio depends on an investor's tolerance for emerging-market risk and their view on Argentina's economic trajectory. The full pillar breakdown is available to Pro members.
Is BMA overvalued?
The UQS Valuation pillar for BMA is rated Good, suggesting the stock does not appear expensive relative to its fundamentals. However, valuation alone does not determine investment suitability — the Weak Quality and Moat ratings mean investors are paying a modest price for a business with limited competitive advantages.
How does BMA compare to its competitors?
BMA's closest listed peer in the Latin American banking space is Intercorp Financial Services (IFS), which operates in Peru. US-based peers like Home Bancshares and Bank OZK operate in more stable environments. BMA's Good Risk and Valuation ratings are notable, but its Weak Moat and Quality scores lag what stronger-franchise banks typically achieve.
What is BMA's market cap bracket?
Banco Macro is classified as a mid-cap stock. This places it in a range where liquidity is generally adequate for most retail investors, though it is smaller than the major global banking institutions and carries the additional consideration of being an emerging-market issuer.
Who founded Banco Macro?
Banco Macro's founding history and key executives are publicly documented. The bank traces its roots through various Argentine financial institutions and has been listed in its current form since 2006. For detailed corporate history, the company's official website and annual reports are the most reliable sources.
Is BMA a long-term quality investment?
As a long-term quality indicator, BMA's Below Average UQS Score — driven by Weak Quality and Moat ratings — suggests caution. Long-term quality investing typically favors businesses with durable competitive advantages and consistent earnings, areas where BMA currently scores below average. The Good Risk rating offers some reassurance on balance sheet stability.
What is the main competitive advantage of Banco Macro?
Banco Macro's UQS Moat pillar is rated Weak, indicating limited identifiable competitive advantages relative to peers. Its scale within Argentina and established branch network provide some operational presence, but these do not appear to translate into the kind of durable pricing power or switching costs that characterize higher-moat financial institutions.
What sector does BMA belong to?
BMA belongs to the Financial Services sector, specifically within commercial and retail banking. It is an Argentine bank listed on US exchanges as an ADR, giving international investors access to Argentina's domestic banking market through a familiar trading structure.
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Pro Analysis
BMA — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 33.8 | 28.5 | 24.0 | 35.1 | 72.7 | 18.4 | -8.9 |
| May 22, 2026 | 42.7 | 28.5 | 24.0 | 35.1 | 72.7 | 77.7 | +9.2 |
| May 21, 2026 | 33.5 | 28.5 | 24.0 | 35.1 | 72.7 | 16.4 | -0.7 |
| May 20, 2026 | 34.2 | 28.5 | 24.0 | 35.1 | 72.7 | 21.1 | +0.2 |
| May 19, 2026 | 34.0 | 28.5 | 24.0 | 35.1 | 72.7 | 19.8 | -2.8 |
| May 17, 2026 | 36.8 | 28.5 | 24.0 | 50.0 | 72.7 | 18.4 | -0.5 |
| May 16, 2026 | 37.3 | 28.5 | 24.0 | 50.0 | 72.7 | 21.9 | +0.5 |
| May 14, 2026 | 36.8 | 28.5 | 24.0 | 50.0 | 72.7 | 18.4 | +0.2 |
| May 13, 2026 | 36.6 | 28.5 | 24.0 | 50.0 | 72.7 | 16.8 | +0.1 |
| May 11, 2026 | 36.5 | 28.5 | 24.0 | 50.0 | 72.7 | 16.7 | +0.4 |
BMA — Pillar Breakdown
Quality
— 28.5/100 (25%)Banco Macro S.A. currently shows below-average quality metrics, suggesting challenges with profitability.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 35.1/100 (20%)Banco Macro S.A. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 72.7/100 (15%)Banco Macro S.A. maintains a reasonable risk profile with manageable debt levels.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 30.9/100 (15%)Banco Macro S.A. appears expensively valued relative to its fundamentals and growth prospects.
Enterprise value multiple relative to sector median.
Moat
— 24/100 (25%)Banco Macro S.A. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for BMA.
Score Composition
Financial Data
More Stock Analysis
How is the BMA UQS Score Calculated?
The UQS (Unified Quality Score) for Banco Macro S.A. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Banco Macro S.A.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Banco Macro S.A. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.