Banco Macro Acquires 100% Stake in Banco Saenz
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 20 2026
0mins
Banco Macro S.A. announced that they have entered into a stock purchase agreement with Liliana Monica Fravega, Facundo Fravega and Luciano Gonzalez-Lobo. Pursuant to this agreement, the Purchasers shall acquire, directly and indirectly, 100% of the outstanding capital stock and voting rights of Banco Saenz S.A., subject to the fulfillment of certain conditions precedent. The purchase price to be paid by the Purchasers to the Sellers on the closing date for the acquisition of the shares shall be equivalent to: (i) an amount in Argentine Pesos equal to the shareholders' equity of Banco Saenz S.A., to be determined prior to closing; plus (ii) $2M, subject to any potential price adjustments that may apply in accordance with the Agreement. This strategic transaction is part of Banco Macro S.A.'s expansion into the digital ecosystem and complements its recent entry into Personal Pay-the digital wallet of Personal-developed by Telecom Argentina S.A.. In this context, Banco Saenz S.A. will operate as a banking platform designed to support the growth of such digital solutions, maintaining a distinct operation to ensure agility and flexibility. The closing of the transaction is subject to approval by the Central Bank of the Argentine Republic. Until such approval is granted, Banco Saenz S.A. will continue to operate normally as an independent entity. Consequently, the transaction will not result in any immediate changes for Personal Pay users.
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Analyst Views on BMA
Wall Street analysts forecast BMA stock price to rise
7 Analyst Rating
6 Buy
1 Hold
0 Sell
Strong Buy
Current: 87.800
Low
74.72
Averages
99.95
High
130.00
Current: 87.800
Low
74.72
Averages
99.95
High
130.00
About BMA
Banco Macro SA is an Argentina-based public company that offers traditional banking products and services to companies, including those operating in regional economies, and individuals, thus strengthening its goal to operate as a multiservice bank. Through other companies in the group, the Company also renders services as trustee agent and director and manager of mutual funds, as well as stock exchange services. The Company began the process of acquiring entities, assets and liabilities as part of the privatization of provincial banks and other banking institutions. The Company and Worldline Argentina SA entered into a joint venture agreement with Siemens Itron Business Servicies SA, to be jointly controlled by both companies, for the purpose of facilitating the development of a tax management data processing center, modernizing the existing tax collection systems and processes used by the Province of Salta, and managing and recovering municipal taxes and fees.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Banco Macro Reports 131% Year-over-Year Net Income Growth in Q1
- Significant Income Growth: Banco Macro's Q1 net income reached Ps. 139.75 billion, reflecting a 28% increase from the previous quarter and a remarkable 131% year-over-year growth, indicating the company's resilience and enhanced profitability amid economic uncertainties.
- Deposit Trends: Total deposits decreased by 7% quarter-over-quarter to Ps. 993.7 billion but increased by 10% year-over-year to Ps. 13.99 trillion, suggesting a gradual recovery in customer confidence while still representing 76% of the bank's total liabilities.
- Private Sector Deposit Decline: Private sector deposits fell by 8%, a reduction of Ps. 1.1 trillion quarter-over-quarter, highlighting the economic environment's impact on corporate liquidity and potentially posing challenges for future credit growth.
- Currency Deposit Trends: In Q1 2026, Peso deposits decreased by 4% while USD deposits dropped by 7%, indicating a growing preference for foreign currency deposits among customers, which may affect the bank's funding structure and risk management strategies.
See More
Banco Macro Reports Q1 Net Income
- Net Income Performance: Banco Macro reported a Q1 net income of 139.8 billion Argentine pesos (approximately $99 million) late Wednesday, reflecting the company's stable performance amid economic uncertainties, despite challenges from high inflation and market volatility.
- Market Environment Impact: Despite facing numerous challenges in the Argentine economy, including high inflation rates and currency depreciation, Banco Macro has managed to maintain profitability, demonstrating its resilience and adaptability in adverse conditions.
- Investor Confidence: The release of this financial report may bolster investor confidence in Banco Macro, particularly in the current economic climate, where stable profitability could attract more investor interest.
- Future Outlook: While the current financial performance is satisfactory, the company must remain vigilant regarding macroeconomic changes to ensure sustained growth and profitability, especially in the context of Argentina's economic recovery.
See More
Banco Macro Reports Q1 2026 Financial Results
- Earnings Announcement: Banco Macro announced its financial results for the first quarter ended March 31, 2026, on May 27, 2026, with all figures reported in Argentine pesos (Ps.) and restated according to the measuring unit current at the end of the reporting period.
- Inflation Adjustment: To facilitate comparison, figures from previous quarters of 2025 have also been restated applying IAS 29 to reflect the accumulated effect of inflation adjustments through March 31, 2026.
- Conference Call Details: Banco Macro will hold its Q1 earnings conference call on May 28, 2026, at 11:00 a.m. Eastern Time (12:00 p.m. Buenos Aires Time) to provide investors with insights into its financial performance.
- Investor Relations Contacts: Investors can reach out to CFO Jorge Scarinci or Investor Relations head Nicolás A. Torres at phone number (54 11) 5222 6682 for further information.
See More
Banco Macro Reports Strong Q1 2026 Earnings
- Significant Net Income Growth: Banco Macro's net income for Q1 2026 reached Ps.139.8 billion, representing a 28% increase (Ps.30.2 billion) from the previous quarter and a 131% increase (Ps.79.2 billion) year-over-year, indicating strong profitability and market demand.
- Operating Income Performance: The operating income (after G&A and personnel expenses) for Q1 was Ps.569.8 billion, up 15% (Ps.73.8 billion) from Q4 and 24% (Ps.108.6 billion) year-over-year, reflecting effective strategies in cost control and revenue growth.
- Financing and Deposit Dynamics: Total financing decreased by 9% (Ps.1.1 trillion) quarter-over-quarter but increased by 5% (Ps.458.9 billion) year-over-year, while total deposits fell by 7% (Ps.993.7 billion) quarter-over-quarter but rose by 10% (Ps.1.22 trillion) year-over-year, demonstrating resilience amid market fluctuations.
- Robust Capital Adequacy: Banco Macro's capital adequacy ratio stands at 32.4%, exceeding regulatory requirements, with a non-performing loan ratio of 5.40% and a coverage ratio of 109.79, indicating sound risk management and capital allocation.
See More
Banco Macro to Announce Q4 Earnings on May 27
- Earnings Announcement Date: Banco Macro is set to release its Q4 2025 earnings on May 27 after market close, with market participants keenly awaiting the results, which are expected to influence stock price movements.
- EPS Expectations: The consensus EPS estimate stands at $6.16, indicating investor confidence in the company's profitability, although EPS estimates have seen one upward and one downward revision over the past three months.
- Revenue Forecast Analysis: The consensus revenue estimate is $852.58 million, reflecting a positive outlook on Banco Macro's revenue growth, with only one upward revision and no downward adjustments during this period.
- Market Reaction Outlook: As the company gradually shifts towards a 'normal' banking operation, market sentiment remains cautiously optimistic regarding Banco Macro's future performance, which may impact its stock price trajectory.
See More
Banco Macro Reports Q4 2025 Financial Recovery with Increased Income
- Net Income Recovery: Banco Macro's net income for Q4 2025 totaled Ps.100.1 billion, recovering from a loss in the previous quarter, although this figure is 26% or Ps.34.4 billion lower than Q4 2024, indicating resilience amid economic recovery.
- Operating Income Growth: The operating income (before G&A and personnel expenses) reached Ps.1.17 trillion in Q4, representing a 39% or Ps.324.2 billion increase from Q3 and a 9% or Ps.94.4 billion rise year-over-year, showcasing strong revenue generation capabilities.
- Financing Situation Change: Banco Macro's total financing decreased by 2% or Ps.210.6 billion quarter-over-quarter to Ps.10.71 trillion, yet increased by 40% or Ps.3.08 trillion year-over-year, reflecting adjustments in the financing structure.
- Deposit Increase: Total deposits rose by 8% or Ps.958.1 billion in Q4, totaling Ps.13.69 trillion, with private sector deposits increasing by 11% or Ps.1.27 trillion, indicating enhanced customer confidence and a rebound in market demand.
See More
Banco Macro Reports 131% Year-over-Year Net Income Growth in Q1
- Significant Income Growth: Banco Macro's Q1 net income reached Ps. 139.75 billion, reflecting a 28% increase from the previous quarter and a remarkable 131% year-over-year growth, indicating the company's resilience and enhanced profitability amid economic uncertainties.
- Deposit Trends: Total deposits decreased by 7% quarter-over-quarter to Ps. 993.7 billion but increased by 10% year-over-year to Ps. 13.99 trillion, suggesting a gradual recovery in customer confidence while still representing 76% of the bank's total liabilities.
- Private Sector Deposit Decline: Private sector deposits fell by 8%, a reduction of Ps. 1.1 trillion quarter-over-quarter, highlighting the economic environment's impact on corporate liquidity and potentially posing challenges for future credit growth.
- Currency Deposit Trends: In Q1 2026, Peso deposits decreased by 4% while USD deposits dropped by 7%, indicating a growing preference for foreign currency deposits among customers, which may affect the bank's funding structure and risk management strategies.
See More
Banco Macro Reports Q1 Net Income
- Net Income Performance: Banco Macro reported a Q1 net income of 139.8 billion Argentine pesos (approximately $99 million) late Wednesday, reflecting the company's stable performance amid economic uncertainties, despite challenges from high inflation and market volatility.
- Market Environment Impact: Despite facing numerous challenges in the Argentine economy, including high inflation rates and currency depreciation, Banco Macro has managed to maintain profitability, demonstrating its resilience and adaptability in adverse conditions.
- Investor Confidence: The release of this financial report may bolster investor confidence in Banco Macro, particularly in the current economic climate, where stable profitability could attract more investor interest.
- Future Outlook: While the current financial performance is satisfactory, the company must remain vigilant regarding macroeconomic changes to ensure sustained growth and profitability, especially in the context of Argentina's economic recovery.
See More
Banco Macro Reports Q1 2026 Financial Results
- Earnings Announcement: Banco Macro announced its financial results for the first quarter ended March 31, 2026, on May 27, 2026, with all figures reported in Argentine pesos (Ps.) and restated according to the measuring unit current at the end of the reporting period.
- Inflation Adjustment: To facilitate comparison, figures from previous quarters of 2025 have also been restated applying IAS 29 to reflect the accumulated effect of inflation adjustments through March 31, 2026.
- Conference Call Details: Banco Macro will hold its Q1 earnings conference call on May 28, 2026, at 11:00 a.m. Eastern Time (12:00 p.m. Buenos Aires Time) to provide investors with insights into its financial performance.
- Investor Relations Contacts: Investors can reach out to CFO Jorge Scarinci or Investor Relations head Nicolás A. Torres at phone number (54 11) 5222 6682 for further information.
See More
Banco Macro Reports Strong Q1 2026 Earnings
- Significant Net Income Growth: Banco Macro's net income for Q1 2026 reached Ps.139.8 billion, representing a 28% increase (Ps.30.2 billion) from the previous quarter and a 131% increase (Ps.79.2 billion) year-over-year, indicating strong profitability and market demand.
- Operating Income Performance: The operating income (after G&A and personnel expenses) for Q1 was Ps.569.8 billion, up 15% (Ps.73.8 billion) from Q4 and 24% (Ps.108.6 billion) year-over-year, reflecting effective strategies in cost control and revenue growth.
- Financing and Deposit Dynamics: Total financing decreased by 9% (Ps.1.1 trillion) quarter-over-quarter but increased by 5% (Ps.458.9 billion) year-over-year, while total deposits fell by 7% (Ps.993.7 billion) quarter-over-quarter but rose by 10% (Ps.1.22 trillion) year-over-year, demonstrating resilience amid market fluctuations.
- Robust Capital Adequacy: Banco Macro's capital adequacy ratio stands at 32.4%, exceeding regulatory requirements, with a non-performing loan ratio of 5.40% and a coverage ratio of 109.79, indicating sound risk management and capital allocation.
See More
Banco Macro to Announce Q4 Earnings on May 27
- Earnings Announcement Date: Banco Macro is set to release its Q4 2025 earnings on May 27 after market close, with market participants keenly awaiting the results, which are expected to influence stock price movements.
- EPS Expectations: The consensus EPS estimate stands at $6.16, indicating investor confidence in the company's profitability, although EPS estimates have seen one upward and one downward revision over the past three months.
- Revenue Forecast Analysis: The consensus revenue estimate is $852.58 million, reflecting a positive outlook on Banco Macro's revenue growth, with only one upward revision and no downward adjustments during this period.
- Market Reaction Outlook: As the company gradually shifts towards a 'normal' banking operation, market sentiment remains cautiously optimistic regarding Banco Macro's future performance, which may impact its stock price trajectory.
See More
Banco Macro Reports Q4 2025 Financial Recovery with Increased Income
- Net Income Recovery: Banco Macro's net income for Q4 2025 totaled Ps.100.1 billion, recovering from a loss in the previous quarter, although this figure is 26% or Ps.34.4 billion lower than Q4 2024, indicating resilience amid economic recovery.
- Operating Income Growth: The operating income (before G&A and personnel expenses) reached Ps.1.17 trillion in Q4, representing a 39% or Ps.324.2 billion increase from Q3 and a 9% or Ps.94.4 billion rise year-over-year, showcasing strong revenue generation capabilities.
- Financing Situation Change: Banco Macro's total financing decreased by 2% or Ps.210.6 billion quarter-over-quarter to Ps.10.71 trillion, yet increased by 40% or Ps.3.08 trillion year-over-year, reflecting adjustments in the financing structure.
- Deposit Increase: Total deposits rose by 8% or Ps.958.1 billion in Q4, totaling Ps.13.69 trillion, with private sector deposits increasing by 11% or Ps.1.27 trillion, indicating enhanced customer confidence and a rebound in market demand.
See More
