August 2013 Investor Relations Sarmiento 447 3er piso (1041) CABA- - - PowerPoint PPT Presentation

Investor Relations Sarmiento 447 3er piso (1041) CABA- Argentina Tel:(54-11) 5222-6682 investorelations@macro.com.ar

August 2013

Disclaimer

The information contained in this presentation is confidential and has been prepared solely for informational purposes. This presentation contains forward-looking statements which are based largely on our current beliefs, expectations and projections about future events and financial trends affecting our business. Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements among other things: inflation; changes in interest rates and the cost of deposits; government regulation; adverse legal or regulatory disputes

• r proceedings; credit and other risks of lending, such as increases in defaults by borrowers; fluctuations and declines in

the value of Argentine public debt; competition in banking, financial services; deterioration in regional and national business and economic conditions in Argentina; and fluctuations in the exchange rate of the peso. Banco Macro financial results presented as of June 30, 2013 are stated in accordance with Central Bank Rules.

Jorge Scarinci, CFA

Finance & IR Manager

Ines Lanusse

Investor Relations

Company Representatives

2

Investment Highlights Page 05 BMA Business Overview Page 13 BMA Financial Performance Page 24 Argentine Macroeconomic and Financial Scenario Page 07 Appendix Page 36

Agenda

3

Investment Highlights Page 05 BMA Business Overview Page 12 BMA Financial Performance Page 23 Argentine Macroeconomic and Financial Scenario Page 07 Appendix Page 35

Agenda

4

Investment Highlights

5

Investment Highlights Page 05 BMA Business Overview Page 13 BMA Financial Performance Page 23 Argentine Macroeconomic and Financial Scenario Page 07 Appendix Page 35

Agenda

6

Notes: 1- Estimated (Source: BMA/MECON/REM/BCRA)

Macroeconomic Environment

7

• 4.4
• 10.9

8.8 9.0 9.2 8.5 8.7 6.8

• 1.0

9.2 8.9 1.9 2.5 (15.0) (10.0) (5.0) 0.0 5.0 10.0 15.0 01 02 03 04 05 06 07 08 09 10 11 12 13 (1) (%)

Real GDP Growth

2 4 6 8 10 12 14 16 18 20 (75) (35) 5 45 85 01 02 03 04 05 06 07 08 09 10 11 12 13 (1) (USD Billions) (USD Billions)

Net Exports

Exports Imports Balance 10 20 30 40 50 60 70 2006 2007 2008 2009 2010 2011 2012 2013 (1) (%)

Debt to GDP

• 3
• 2
• 1

1 2 3 4 10 16 22 28 34 01 03 05 07 09 11 13 (1) Primary & Fiscal Result/ GDP (%) Income Expenses/ GDP (%)

Fiscal Result

Total Income/ GDP Total Expenses/ GDP Primary Result/ GDP Fiscal Result/ GDP

Monetary Performance and Financial Markets

Source: BCRA/Yahoo Finance

8

1.00 1.50 2.00 2.50 3.00 3.00 3.50 4.00 4.50 5.00 5.50 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 $/BRL $/USD

Exchange Rate

1,000 2,000 3,000 4,000 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13

Local Stock Market2

Merval 8.00 12.00 16.00 20.00 24.00 Jun-10 Oct-10 Feb-11 Jun-11 Oct-11 Feb-12 Jun-12 Oct-12 Feb-13 Jun-13 (%)

Interest Rate - BADLAR

TOTAL DEBT 208,945 PERFORMING DEBT 191,355 (92%) By currency

In Ps 81,052 (42%) In Forign Currency 110,303 (58%)

NON PERFORMING DEBT 17,590 (8%) By type of debt

Restructured debt 55,771 (29%)  NY Legislation: 11,899  London Legislation 15,985  Tokio Legislation: 361  Argentine Legislation 27,625 Debt with BCRA 59,454 (31%) International Organizations 18,335 (10%) Other securites & loans 57.795 (30%) Public sector 114,767 (60%) Private Sector 76,588 (40%)

Paris Club &

• thers

6,110 (35%) Holdouts 11,480 (65%)

Under NY trial 1,330 (12%) Plus contingent debt payment for GDP cupon for USD 20,000

By Creditor

Public Debt – As of December 2012 – Million USD

Source: BMA

Source: BCRA Note: 1- As of June 2013.

Profitability and Financial System

Loan Growth Rates (YoY)1

10

Avg 2013 ∆: 32% Avg 2009 ∆: 8% Avg 2010 ∆: 37% Avg 2008 ∆: 23% Avg 2007 ∆: 41% Avg 2006 ∆: 41% Avg 2005 ∆: 33% Avg 2004 ∆: 8% Avg 2003 ∆: (34%) Avg 2012 ∆: 30% Avg 2011 ∆: 48% 18 16 7 12 17 22 27 32 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 (%)

Deposits-Loans / GDP1

Private Deposits Private Sector Loans (35) (20) (5) 10 25 40 55 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 (%) Commercial Consumer Total

11

Banking System

Source: BCRA Note: 1- As of March 2013. 2 – As of June 2013.

Market Share / Group of Banks1 Loans/Deposits evolution with the private sector (YoY)

42 20 9 37 46 32 32 26 7 20 29 28 30 30 10 20 30 40 50 2007 2008 2009 2010 2011 2012 2013 ( %)

Financial System2

Loans to Private Sector Deposits from Private Sector Public Bank 39% Private Bank (foreign) 30% Macro 26% Private Bank (local) 31%

Loans to the private sector

Public Bank 46% Private Bank (foreign) 26% Macro 18% Private Bank (local) 28%

Deposits from the private sector

Investment Highlights Page 05 BMA Business Overview Page 13 BMA Financial Performance Page 24 Argentine Macroeconomic and Financial Scenario Page 07 Appendix Page 36

Agenda

12

Leveraging our nationwide presence to serve our target customer markets

Successful Business Model

Focus on mantaining healthy volumes Shareholder value through

• perational excellence and

market initiatives Operational Efficiency Risk Management  Loans to private sector grew 27% in LTM.  Deposits from private sector grew 18% in LTM.  Net Fees covering of 63.8% of operating expenses.  Buying back equity and debt securities if applicable.  Cost to Income ratio of 52.8%.  Liquidity: liquid assets at 29.5% of total deposits.  Asset quality: Coverage ratio at 143.93% of NPLs and NPLs ratio at 1.9%.  Currency: net long USD position since 3Q08.  Capitalization: capital ratio at conservative 21.7%.  Loans growth (organic and/or inorganic).  Increase business in branches.  Increase our market share in the credit card market. Opportunities

BMA Strategy

14

Largest private sector branch network in Argentina and exclusive financial agent in 4 provinces

Source: BCRA / BMA Notes: 1- As of March 2013 except Macro as of June 2013. Bank´s with 100 branches or more. 2- As of June 2013.

Provinces with Branches Financial Agency Agreements 428 branches throughout the country 1088 ATMs 838 TAS 55 Service points

Nationwide Presence2

+

Cross Selling  Employees and relatives  Companies with government contracts  Companies operating in regional economies

Exclusive and Long Term Relationships with Provincial Governments Provincial Government’s Bank Public Employees Payroll Accounts

Large Customer Base Low - Cost Funding Fee Income

Provinces Population Branch Market Share Agreement expires Salta 1,2 m 46% 2016 Misiones 1,1 m 52% 2019 Jujuy 0,7 m 47% 2014 Tucumán 1,5 m 44% 2021 Financial Agency Agreements

428 139 331 104 244 261 251 104 159 628 Branches

Unique Branch Network

15

29% 32% 33% 35% 40% 43% 47% 47% 60% 79% 38% 34% 36% 35% 27% 41% 22% 27% 30% 14% 33% 34% 32% 30% 33% 16% 31% 26% 10% 7% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Galicia BBVA Frances ICBC Santander Rio HSBC Credicoop Supervielle Patagonia Nacion Macro

Strongest presence outside buenos Aires1

Interior of Argentina BA Province BA City

Source: BCRA Notes: 1 - As of March 2013 except Macro as of June 2013.

Metropolitan Area & Great Buenos Aires1 Rest of Buenos Aires Province1

Branch Network: Buenos Aires

Keep increasing our market share in Buenos Aires

Total Market Share 1 SANTANDER RIO 156 11% 2 GALICIA 144 10% 3 BBVA FRANCES 133 9% 4 PROVINCIA DE BS AS 130 9% 5 NACION 113 8% 6 CREDICOOP 87 6% 7 HSBC 68 5% 8 ITAU 67 5% 9 PATAGONIA 67 5% 10 CIUDAD DE BS AS 60 4% 11 ICBC 59 4% 12 MACRO 50 4% 13 COMAFI 49 3% 14 SUPERVIELLE 48 3% Others 185 13% Financial System 1416 100% Bank (total branches) Bank (total branches) Total Market Share 1 PROVINCIA DE BS AS 212 30% 2 NACION 137 19% 3 SANTANDER RIO 60 8% 4 CREDICOOP 55 8% 5 GALICIA 42 6% 6 MACRO 41 6% 7 BBVA FRANCES 32 5% 8 PATAGONIA 17 2% 9 HSBC 16 2% 10 BANCO DE LA PAMPA 13 2% Others 83 12% Financial System 708 100%

Public & Fin 22% Private 78% Public 2% Financial 1% Private 97% Source: BMA Notes: 1 - As of June 2013.

Loans (Ps. 33,966 million Ps)1 Deposits (Ps. 39,530 million Ps.)1

Loan & Deposit Breakdown

17

Consumer 52% Corporate 45% Pub & Fin 3% Peso 94% Dollar 6% Peso 91% Dollar 9% Pub & Fin 22% Consumer 50% Institutional 28%

Personal 70% Credit Cards 27% Mortgages 1% Others 1% Consumer 52% Corporate 45% Pub & Fin 3%

Retail Customers1 Loans to Retail Customers1  1,844,577 credit cards issued  683,315 customers with personal loans  low credit risk (payment through payroll deduction)  average personal loan (sales) of Ps.19,891 (approx. US$ 3,694)2  average interest rate of 35.92%  average maturity of 44,8 months

• Ps. 18 billion

(US$ 3,3 billion)2

Source: BMA Notes: 1 - As of June 2013. 2 - Translated at the rate of Ps.5,3852 per US$1.00

Consumer Banking

 3,0 million retail customer served  90% of customers located outside Buenos Aires Metropolitan Area Accounts by product Private sector payroll plans 589,663 Public sector payroll plans 552,930 Retirees 685,435 Open Market 316,888 Total saving accounts 2,144,886 Checking accounts 480,839 Debit cards 2,055,736  Significant cross-selling opportunities  27% with personal loans  42% with credit cards

Unique focus: low and mid-income individuals

18

Corporate Banking

Corporate Customers1

Source BMA Notes: 1 - As of June 2013. 2- Translated at the rate of Ps.5.3852 per US$1.00 3 - Mostly structured loans (medium and long term). 4 – Factoring, check cashing advances and promissory notes. 5 – Primarely securing cargo trasportation.

Number of Clients Corporate 511 1% Medium 1,953 2% Agro 17,561 20% Small 70,562 77% Total 90,587 100% 19

 Small businesses represent 97% of total corporate clients  Strong relationships with large corporations  Cross selling to employees, customers and suppliers

• Ps. 15,0 billion

(US$ 2,9 billion)2

Consumer 52% Corporate 45% Pub & Fin 3% Overdraft 27% Documents 19% Mortgage Loans 9% Pledged Loans 7% Others 38%

Source: BMA /BCRA Note: 1- As of March 2013. 2- As of June 2013. 3- Buenos Aires Metropolitan Area 4- Includes Cordoba & Santa Fe 5- Includes Misiones, Corrientes y Chaco 6- Includes Salta, Mendoza, La Rioja, Catamarca, San Luis, San Juan y Santiago del Estero

Personal Loans Breakdown2

15% market share - Leader in the Argentine banking system ranking

20

Personal Loans

15% 11% 8% 7% 7% MACRO PROVINCIA BS AS SANTANDER RIO NACION GALICIA

Peer Comparison1

2,000 4,000 6,000 8,000 10,000 12,000 14,000 2006 2007 2008 2009 2010 2011 2012 Mar-13 (Million Ps.)

Personal Loans Growth

MACRO PROVINCIA BS AS SANTANDER RIO NACION GALICIA 44 49 35 42 52 45 42 45 6,006 6,809 5,725 9,491 13,192 12,223 11,024 19,891 2006 2007 2008 2009 2010 2011 2012 Jun-13

Maturity (months) & Average Loan (sales)

Maturity Average Loan (sales) 1,475 3,255 3,881 4,099 5,911 9,260 11,177 12,702 2006 2007 2008 2009 2010 2011 2012 Jun-13

Volume (Millon Ps.)

Open Market 13% Retirees 21% Private Payroll Plan 26% Public Payroll Plan 40% Tucumán 17% Jujuy 8% NOA5 19% NEA4 15% AMBA2 y South 18% Center3 24%

Credit Cards

Source: BMA/BCRA Notes: 1 – As of March 2013. 2 – As of March 31st., 2013. 3 – Includes Buenos Aires Metropolitan Area 4- Includes Cordoba & Santa Fe 5- Includes Misiones, Corrientes y Chaco 6- Includes Salta, Mendoza, La Rioja, Catamarca, San Luis, San Juan y Santiago del Estero

Credit Cards Breakdown2

21

3,951 3,603 2,459 2,188 1,913 750 1,500 2,250 3,000 3,750 4,500 GALICIA SANTANDER FRANCES MACRO PROVINCIA

Credit Cards Issue (In thousands)¹

500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 2006 2007 2008 2009 2010 2011 2012 Mar-13

Credit Card Growth (In thousands)

SANTANDER GALICIA FRANCES PROVINCIA MACRO 445 680 736 789 1,329 2,730 4,372 4,947 2006 2007 2008 2009 2010 2011 2012 Jun-13

Volume (Millon Ps.)

666 654 555 702 1,012 1,008 1,186 1,248 2006 2007 2008 2009 2010 2011 2012 Jun-13

Open accounts (in Thousands)

Open Market 34% Retirees 24% Private Payroll 26% Public Payroll 16% Tucumán 9% Jujuy 6% NOA6 14% NEA5 11% AMBA3 & South 29% Center4 31%

Assets’ Breakdown Liabilities’ Breakdown

22

Assets and Liabilities

83 80 81 79 80 79 86 85 10 11 10 12 14 14 8 10 25 50 75 100 2006 2007 2008 2009 2010 2011 2012 2Q13 (%) Non - subordinated Corporate Bonds Other liabilities Subordinated corporate bonds Other liabilities from financial intermediation Deposits 18 16 16 19 16 15 21 16 22 20 21 26 21 11 5 9 45 51 50 41 47 59 64 63 6 6 6 9 11 11 5 8 8 7 6 5 5 5 5 4 25 50 75 100 2006 2007 2008 2009 2010 2011 2012 2Q13 (%) Other assets Other receivables from financial intermediation Loans Government securities Cash

Investment Highlights Page 05 BMA Business Overview Page 13 BMA Financial Performance Page 24 Argentine Macroeconomic and Financial Scenario Page 07 Appendix Page 35

Agenda

23

BMA Results

Source: BCRA/BMA

Attractive profitability levels

24

2006A

• Rdo. Neto: Ps.424m

ROE: 22.2% Payout Ratio: 24.2% 2007A

• Rdo. Neto: Ps.495m

ROE: 20.2% Payout Ratio: 34.5% 2008A

• Rdo. Neto: Ps.660m

ROE: 23.8% Payout Ratio: 22.7% 2009A

• Rdo. Neto: Ps.752m

ROE: 24.6% Payout Ratio: 27.7% 2010A

• Rdo. Neto: Ps.1.010m

ROE: 27.1% Payout Ratio: 50% 2011A

• Rdo. Neto: Ps.1.176m

ROE: 26.7% 2012A

• Rdo. Neto: Ps.1.494m

ROE: 27.1% 2Q13

• Rdo. Neto: Ps.913.3m

ROE: 27.3% 73 99 106 147 123 115 88 169 152 161 163 184 156 163 191 242 246 222 268 274 258 258 314 346 324 332 412 426 458 460 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 460 480 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 (Million Ps.)

Source: BMA Notes: 1- Financial System as of May 2013. 2-Net interest margen / average interest earning assets (annualized). 3-Net service-charge income / Net service-charge income + Net financial income. 4-Administrative expenses / Net service-charge income + Net financial income.

25

Superior and Consistent Performance

7.1 6.8 8.2 11.7 11.1 10.9 11.9 12.6 32.4 32.0 29.9 26.0 30.2 34.1 32.5 33.7 25 30 35 2 4 6 8 10 12 14 2006 2007 2008 2009 2010 2011 2012 2Q13 Fee Income Ratio (%) NIM (%)

NIM2 and Net Fee Income Ratio3

NIM Fee Income Ratio 60.7 62.5 52.8 48.0 55.8 55.0 51.6 52.8 52.8 51.3 56.6 54.1 54.2 61.9 62.9 63.8 40 60 80 20 40 60 80 2006 2007 2008 2009 2010 2011 2012 2Q13 Net Fee Inc. / Adm. Exp. (%) Efficiency (%)

Efficiency Ratio4

Efficiency (%) Net fee Inc./ Adm. Exp (%) 22.2 20.2 23.8 24.6 27.1 26.7 27.1 27.3 14.3 11.0 13.4 19.2 24.4 25.3 25.7 24.8 5 10 15 20 25 30 2006 2007 2008 2009 2010 2011 2012 2Q13 (%)

ROE Evolution1

Macro Financial System 3.6 2.8 3.0 3.1 3.6 3.4 3.3 3.6 1.9 1.5 1.6 2.3 2.8 2.7 2.9 2.8 0.5 1 1.5 2 2.5 3 3.5 4 2006 2007 2008 2009 2010 2011 2012 2Q13 (%)

ROA Evolution1

Macro Financial System

Market Share Evolution1

Acquisitions: I- Bansud II- Suquia III- Tucuman IV- Bisel V- Banco Privado

Organic , Inorganic and Fee Income Growth

26

Source: BMA Notes: 1- As of June 2013. 2- Annualized. 4,000 8,000 12,000 16,000 20,000 24,000 28,000 32,000 36,000 2006 2007 2008 2009 2010 2011 2012 2Q13 (Million Ps.)

Loan Portfolio Growth

Organic Inorganic 69 17 3% 42 52 28 % 9% 500 1,000 1,500 2,000 2,500 3,000 3,500 2006 2007 2008 2009 2010 2011 2012 2Q13 (*) (Million Ps.)

Fee Income Growth

Fee charges on deposit accounts Debit and credit card income Credit-related fees Other

Source: BCRA/ BMA Notes: 1- As of June 2013.2013: July 2013 /2014: April 2014

27

Central Bank Notes Portfolio

10 20 30 40 50

2Q07 4Q07 2Q08 4Q08 2Q09 4Q09 2Q10 4Q10 2Q11 4Q11 2Q12 4Q12 2Q13

(%)

(NOBAC/LEBAC Income) / Net Financial Income

23 33 10 20 30 40 50 2013 2014 (Million Ps.)

BCRA Instruments Stock1 - Maturity

17 15 19 11 1 0.26 0.11 5 10 15 20 2007 2008 2009 2010 2011 2012 2Q13 (%)

LEBACs-NOBACs / Assets

4.5 3.2 3.1 3.5 2.1 1.4 1.7 1.9 3 5 2006 2007 2008 2009 2010 2011 2012 2Q13 (%)

Financial System1

2 1.5 2.6 3.2 2.1 1.5 1.8 1.9 3 5 2006 2007 2008 2009 2010 2011 2012 2Q13 (%)

Banco Macro NPLs as a % of Total Lending1 Coverage Ratio

Source: BCRA/ BMA Note: 1- Non- financial private sector. (*) Annualized.

28

Asset Quality

156.3 141.8 138.2 116.1 147.2 158.1 154.5 143.9 1.5 1 2 3 100 120 140 160 180 2006 2007 2008 2009 2010 2011 2012 2013 (*) (%) (%)

Banco Macro

Allowances as a % of NPLs

• Uncollect. Charges/Avg. Loans

108.0 115.0 117.0 115.0 148.0 176.0 141.0 132.0 2.02 1 2 3 100 120 140 160 180 2006 2007 2008 2009 2010 2011 2012 2013 (*) (%) (%)

Financial System1

Allowances as a % of NPLs

• Uncollect. Charges/Avg. Loans

 Lower exposure to Public Sector than the Banking Sector

Exposure to the Public Sector2

Source: BCRA/ BMA Notes: 1 - As of June 2013. 2 - Net of LEBACs and NOBACs.

2Q13(Million Ps.) Government Assets² 2,782 Government Liabilities

• 25

Total Net Exposure 2,757

29

Solid Capitalization and Solvency

11.2 5.4 6.3 3.9 2.5 2.4 3.9 5.1 22.5 16.3 12.7 14.4 12.1 10.7 9.7 9.7 6 12 18 24 2006 2007 2008 2009 2010 2011 2012 2Q13 (Public Sector Assets/Total Assets %) Banco Macro Financial System 13.7 9.7 7.6 8.7 9.0 8.7 8.2 12.4 8.4 7.6 7.9 7.7 8.3 7.9 5 10 15 Galicia BBVA Frances Patagonia Santander Macro Financial System 10 Largest Private Banks (%)

Assets/Equity

Mar-12 Mar-13 1,915 1,821 1,772 2,364 2,562 2,033 2,067 3,014 21.7 10 20 30 40 500 1,000 1,500 2,000 2,500 3,000 3,500 2006 2007 2008 2009 2010 2011 2012 2Q13 Capitalization Ratio (%) Excess of Capital (Million Ps.)

Excess of Capital

Excess Capital Capitalization Ratio

4,000 8,000 12,000 16,000 20,000 24,000 28,000 32,000 36,000 40,000 2006 2007 2008 2009 2010 2011 2012 1Q13 2Q13 (Million Ps.) Time deposits Sight deposits Other

 Large share of demand deposits complemented by low-cost deposits from provinces

Source: BMA/BCRA

50% low-cost funding  Appropriate liquidity available to take advantage of expected credit expansion Deposit Base Liquidity Management

3% 47% 50%

(Million Ps.) 2Q12 2Q13 Cash + cash collateral + call 9,000.1 9,187.7 Repos 3,085.5 2,429.7 Central Bank Bill (Lebacs / Nobacs) 1,111.5 57.0 Liquid Assets 12,097.1 11,674.4 Liquid Assets / Deposits 36.3% 29.5%

30

Funding & Risk Management

Notes: 1- As of June 2013. 2- As April 2013. Source: BCRA 3- As of August 14th 2013. Source: JP Morgan 4- As of June 2013, Source: Bank´s PR2Q13

Peers and Financial System2

Benchamark with Argentine Banks

31 Macro2 Galicia4 Frances4 Patagonia4 Financial System4 Profiability (ROE - annual) 28.4% 38,2% 35.7% 36.9% 28.4% Capitalization 20.2% 9,6% 12.2% 13.7% 11.9% Asset Quality (lending) 1.7% 1,7% 0.5% 1.1% 1.5% Liquidity 32.7% 21.0% 25.4% 25.4% 23.1% Average daily traded volume (6-m, US$mm) 3 1,9 2,0 0,5 0,0 n/a Float (includes ANSES) 3 60% 77.4% 24.0% 16.4% n/a

(15) 15 30 45 60 75 Oct-12 Nov-12 Dec-12 Feb-13 Mar-13 Apr-13 Jun-13 (%)

Share Evolution L180D1

BMA FRAN BPAT GGAL (25) (15) (5) 5 15 25 Apr-13 Apr-13 May-13 Jun-13 (%)

Share Evolution L60D1

BMA FRAN

Source: BCRA/BMA

32

Argentine Bank´s Rankings

Value (Million Ps) Market Share 1 NACION 96,608 22% 2 SANTANDER RIO 35,274 8%

3 GALICIA 32,929 7%

4 PROVINCIA DE BS AS 30,526 7%

5 MACRO 32,723 7%

6 BBVA FRANCES 28,755 7% 7 CIUDAD DE BS AS 19,493 4% 8 HSBC 18,220 4% 9 PATAGONIA 15,737 4% 10 CREDICOOP 14,328 3% Financial System 439,879 100% Loans ( March 2013)

Value (Million Ps) Market Share 1 NACION 20,920 21% 2 SANTANDER RIO 7,171 7% 3 MACRO 6,657 7% 4 BBVA FRANCES 5,476 6% 5 GALICIA 5,227 5% 6 HSBC 4,127 4% 7 CITI 3,844 4% 8 CIUDAD DE BS AS 3,812 4% 9 HIPOTECARIO 3,689 4% 10 PATAGONIA 3,594 4% Financial System 97,505 100% Equity (March 2013) Value (Million Ps) Market Share 1 NACION 175,692 29% 2 PROVINCIA DE BS AS 54,596 9% 3 SANTANDER RIO 42,830 7% 4 GALICIA 40,310 7% 5 MACRO 39,059 6% 6 BBVA FRANCES 34,963 6% 7 HSBC 25,739 4% 8 CREDICOOP 23,756 4% 9 CIUDAD DE BS AS 22,424 4% 10 PATAGONIA 19,249 3% Financial System 616,098 100% Deposits (March 2013) Value (Million Ps) Market Share 1 NACION 213,322 26% 2 PROVINCIA DE BS AS 62,557 8% 3 SANTANDER RIO 56,405 7% 4 GALICIA 54,079 7% 5 MACRO 51,454 6% 6 BBVA FRANCES 44,932 6% 7 HSBC 34,613 4% 8 CIUDAD DE BS AS 28,101 3% 9 CREDICOOP 27,513 3% 10 PATAGONIA 25,519 3% Financial System 812,195 100% Assets (March 2013)

Largest listed Latam banks benchmark

Operating Leverage / asset quality Profitability/ capitalization

Source: JP Morgan / Company filings as of 1Q13. Note: Santander stands for Santander Brasil and Bancolombia for Grupo Bancolombia.

Net Interest Margin Efficiency Ratio Fee Income/ATA Gross Loans/Deposits PDLs/Gross Loans Loss Reserves/PDLs ROAE ROAA Total Capital Ratio

33

10% 9% 8% 6% 6% 5% 5% 4% 4% GF Galicia Macro Santander Bradesco Bancolombia Credicorp Itau-UBB GF Banorte B.de Chile 40% 45% 47% 47% 52% 54% 54% 57% 70% Santander Bradesco Itau-UBB

• B. de Chile

Macro Credicorp GF Banorte Bancolombia GF Galicia 6% 4% 3% 3% 3% 2% 2% 2% 2% GF Galicia Macro Credicorp Bancolombia Itaú-UBB Bradesco Santander

• B. de Chile

GF Banorte 155% 147% 129% 114% 108% 107% 100% 91% 88% Itaú-UBB Bradesco

• B. de Chile

GF Galicia Bancolombia Santander GF Banorte Credicorp Macro 7% 5% 4% 4% 3% 3% 2% 2% 2% Itaú-UBB Santander GF Galicia Bradesco

• B. de Chile

Bancolombia GF Banorte Credicorp Macro 190% 170% 167% 158% 144% 114% 107% 104% 70% Bradesco Bancolombia Credicorp GF Banorte Macro Santander Itau-UUB GF Galivia

• B. de Chile

29% 28% 24% 19% 18% 18% 14% 13% 7% GF Galicia Macro

• B. de Chile

Itaú-UBB Bradesco Credicorp Bancolombia GF Banorte Santander 4% 2% 2% 2% 2% 1% 1% 1% 1% Macro GF Galicia

• B. de Chile

Credicorp Bancolombia Itaú-UBB Bradesco GF Banorte Santander 22% 22% 18% 17% 15% 15% 15% 14% 13% Macro Santander Itaú-UBB Bancolombia Bradesco Credicorp GF Banorte GF Galicia B.de Chile

Denomination Amount (USD)

Maturity

Coupon Ratings2 Original Oustanding Moodys Fitch Subordinated (Class 1) 150 150 2036 Bullet 9.75% Caa3 CCC Senior Note (Class 2) 150 106 2017 Bullet 8.50% B3 B- Quarter VN (In Million) Class 2 1Q08 9,5 3Q09 10,85 4Q08 22,21 1Q09

• 2Q09

1,05 3Q09

• Total

43,61 Quarter Shares in Million Average Price 1Q08 1,44 6.93 2Q08 13,6 6.25 3Q08 32,4 5.69 4Q08 28,6 3.62 1Q09 13,58 3.74 2Q09 1,01 3.84 Total 90,64 4.83 Quarter Shares in Million Average Price 3Q11 1,3 9.69 4Q11 8,7 9.39 Total 10,0 9.29

Class A: 11,235,670 + Class B: 583,249,498 TOTAL: 594,485,168

Anses 31% Others 9% ADS´s 20% Major Shareholders 40%

Float 29%

Source: BMA Note: 1-As of June 2013 2- As of March 2013

34

Ownership Structure1 | Debt & Equity Information

Investment Highlights Page 05 BMA Business Overview Page 13 BMA Financial Performance Page 24 Argentine Macroeconomic and Financial Scenario Page 07 Appendix Page 36

Agenda

35

2001 2003 2008 2011 1975 Hamburgo (Investment Manager) 1981 Anglia (Over the Counter Agent) 1982 Anglia Opens Brokerage House 1985 Macro (Financial Company) 1988 Commercial Bank License 1989 Banco Macro Emerges as a Leading Wholesale Bank in Argentina 1992 First Wholesale Bank to Issue Debentures 1994 First Wholesale Bank to Issue Equity / First Branch in Salta / Strategic Decision to Move into Retail 1996 Banco Salta / Banco del Noroeste / Banco Misiones 1998 Banco Jujuy 1999 Branches of Banco Mayo, Almafuerte, Mendoza and Israelita 2002 Banco Bansud / 35% of Scotiabank Argentina 2004 Nuevo Banco Suquía 2005 Banco Empresario de Tucumán 2006 Banco de Tucumán / NYSE IPO / Nuevo Banco Bisel 2007 Merger Nuevo Banco Suquía /

International Capital Markets

2009 Merger Nuevo Banco Bisel 2010 Banco Privado

de Inversiones Initial Stages Wholesale Bank Regional Bank National Bank Notes: 1- As of June 2013

2012 2013

OUR GROWTH STORY

35 years of experience in the Argentine Financial System

Analysts covering the stock

Source: BMA

37

Institution Analyst Internacional Raymond James Federico Rey Marino J.P Morgan Saul Matinez Citi Daniel Abut Santander Boris Molina Morgan Stanley Jorge Kuri Goldman Sachs Carlos Macedo BTG Pactual Alonso Aramburu Nacional Allaria Ledesma Guido Bizzozero Vat Net Research Roberto Drimer TPCG Valores Veronica Lema Pose Capital Markets Alejandro Quelch

Source: BMA filings

38

Financial Summary

Assets 46,370.6 48,089.8 48,379.0 51,454.2 53,686.6 Cash 7,221.0 7,393.7 10,047.0 9,270.3 8,323.1 Government and Private Securities 5,143.4 5,204.0 2,343.1 4,451.2 5,040.0 Loans 26,842.2 28,696.7 31,202.6 32,722.5 33,965.6 to the non-financial government sector 316.7 330.3 586.6 604.6 602.8 to the financial sector 519.7 528.1 299.3 464.4 441.0 to the non-financial private sector and foreign residents 26,757.8 28,618.5 31,203.9 32,562.1 33,869.6 Other receivables from financial intermediation 5,103.3 4,561.8 2,380.2 2,970.9 4,193.6 Receivables from financial leases 304.5 290.7 321.5 351.4 375.4 Investments in other companies 10.2 10.3 11.6 11.7 11.7 Other receivables 530.2 747.4 855.2 427.2 470.8 Other assets 1,215.8 1,185.2 1,217.8 1,249.0 1,306.4 Liabilities 41,009.2 42,316.5 42,179.9 44,797.2 46,584.5 Deposits 33,599.6 34,695.0 36,188.7 39,059.2 39,530.4 From the non-financial government sector 8,242.7 8,227.1 8,318.4 9,220.8 8,549.7 From the financial sector 20.0 21.9 24.2 20.2 24.1 From the non-financial private sector and foreign residents 25,336.9 26,446.0 27,846.1 29,818.2 30,956.6 Other liabilities from financial intermediation 5,755.4 5,657.3 3,785.0 3,808.8 5,188.9 Subordinated corporate bonds 681.0 723.6 740.2 789.8 810.4 Other liabilities 973.2 1,240.6 1,466.0 1,139.4 1,054.8 Shareholder´s Equity 5,361.4 5,773.3 6,199.1 6,657.0 7,102.1 Liabilities + Shareholder´s Equity 46,370.6 48,089.8 48,379.0 51,454.2 53,686.6 II13 Balance Sheet (Million Ps.) II12 III12 IV12 I13

Financial Summary

39

Source: BMA fillings Note: 1 - Net interest margin excluding income from government securities and guaranteed loans

Accumulated Annualized Ratios II 12 III 12 IV 12 I 13 II 13 Profitability & performance Net interest margin 11.5% 11.7% 12.1% 12.9% 12.6% Net interest margin adjusted (1) 12.0% 12.2% 12.6% 13.2% 13.3% Net fee income ratio 33.6% 33.0% 32.5% 32.4% 33.7% Efficiency ratio 50.9% 50.4% 51.6% 50.9% 52.8% Net fee income as a percentage of adm expenses 65.9% 65.5% 62.9% 63.7% 63.8% Return on average assets 3.0% 3.2% 3.3% 3.7% 3.6% Return on average equity 25.7% 26.8% 27.1% 28.4% 27.3% Liquidity Loans as a percentage of total deposits 82.1% 85.0% 88.7% 86.1% 88.3% Liquid assets as a percentage of total deposits 36.3% 35.2% 31.8% 32.7% 29.5% Capital Total equity as a percentage of total assets 11.6% 12.0% 12.8% 12.9% 13.2% Regulatory capital as a percentage of risk weighted assets 18.7% 18.5% 19.0% 20.2% 21.7% Asset Quality Allowances over total loans 2.7% 2.6% 2.8% 2.7% 2.7% Non-performing loans as a percentage of total loans 1.6% 1.6% 1.8% 1.7% 1.9% Allowances as a percentage of non-performing loans 170.8% 162.8% 155.4% 157.2% 145.9% Amparos as a percentage of average equity 0.9% 0.0% 0.0% 0.0% 0.0% Financial income 1,656.5 1,764.3 1,921.4 2,047.0 2,129.5 Financial expense (654.8) (704.6) (798.5) (880.5) (932.4) Net financial income 1,001.7 1,059.7 1,122.9 1,166.5 1,197.1 Provision for loan losses (169.9) (103.0) (197.3) (128.5) (113.9) Fee income 637.8 673.7 730.7 764.5 849.0 Fee expense (153.3) (177.4) (225.0) (204.5) (208.8) Net fee income 484.5 496.3 505.7 560.0 640.2 Administrative expenses (761.2) (767.6) (895.8) (878.5) (1,002.5) Minority interest in subsidiaries (3.4) (3.8) (4.2) (3.9) (4.1) Net other income 32.2 (16.8) 21.8 31.7 37.0 Earnings before income tax 583.9 664.8 553.1 747.3 753.8 Income tax (251.8) (252.9) (127.3) (289.4) (293.4) Net income 332.1 411.9 425.8 457.9 460.4 II13 Income Statement (Million Ps.) II12 III12 IV12 I13