March 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

March 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 March 31, 2013 are stated in accordance with Central Bank Rules.

Jorge Scarinci, CFA

Finance Manager Head of Investor Relations

Ines Lanusse

Investor Relations

Company Representatives

2

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

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 12 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 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 Note: 1- As of June 30, 2012. Including capital and interest. 2- As of March 31st., 2013.

Public Debt Maturity (US$ Million)1

8

2013 2014 2015- 2018 2018-2089 Total Titulos Públicos 10,976 11,691 43,526 120,284 186,477 Préstamos 6,015 4,890 9,323 14,583 34,811 Organismos Oficiales 2,431 2,225 5,830 10,232 20,718 Mercado abierto 3,584 2,664 3,493 4,351 14,092 Adelantos BCRA 6,218

• - -

6,218 Total Deuda Pública 23,209 16,581 52,849 134,867 227,506 Capital 17,174 10,840 39,582 90,893 158,490 Intereses 6,035 5,741 13,266 43,974 69,015

8.00 14.00 20.00 Mar-10 Jul-10 Nov-10 Mar-11 Jul-11 Nov-11 Mar-12 Jul-12 Nov-12 Mar-13 (%)

Interest Rate - BADLAR2

1,000 2,000 3,000 4,000 Mar-09 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13

Local Stock Market (Avergae)2

Merval (%) 1.00 1.50 2.00 2.50 3.00 3.00 3.50 4.00 4.50 5.00 5.50 Mar-09 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13

FX (Average)2

$/USD $/BRL

Source: BCRA Note: 1- As of February 28th., 2013.

Profitability and Financial System

Loan Growth Rates (YoY)1

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Avg 2013 ∆: 31% 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% (35) (20) (5) 10 25 40 55 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 (%) Commercial Consumer Total 19 17 7 12 17 22 27 32 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 (%)

Deposits - Loans / PBI1

Depósitos S Privado Préstamos S Privado

10

Banking System

Source: BCRA Note: 1- As of December 31st., 2012. 2 – As of February 28th., 2013.

Market Share / Group of Banks1

Loans/Deposits evolution with the private sector (YoY)

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

Financial System2

Loans to Private Sector Deposits from Private Sector Public Bank 34% Private Bank (foreign) 35% Macro 21% Private Bank (local) 31%

Deposits from the provate sector

Public Bank 33% Private Bank (foreign) 34% Macro 26% Private Bank (local) 33%

Loans to the private sector

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

11

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 29% in LTM.  Deposits from private sector grew 18% in LTM.  Net Fees covering of 63.7% of operating expenses.  Buying back equity and debt securities if applicable.  Cost to Income ratio of 50.9%.  Liquidity: liquid assets at 32.7% of total deposits.  Asset quality: Coverage ratio at 157.2% of NPLs and NPLs ratio at 1.7%.  Currency: net long USD position since 3Q08.  Capitalization: capital ratio at conservative 20.2%.  Loans growth (organic and/or inorganic).  Increase business in branches.  Increase our market share in the credit card market. Opportunities

BMA Strategy

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

Source: BCRA / BMA Notes: 1- As of December 31st. 2012 except Macro as of March 31st.,2013. Bank´s with 100 branches or more. 2- As of March 31st. 2013.

Provinces with Branches Financial Agency Agreements 428 branches throughout the country 1058 ATMs 837 TAS 42 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 47% 2016 Misiones 1,1 m 52% 2019 Jujuy 0,7 m 47% 2014 Tucumán 1,5 m 44% 2021 Financial Agency Agreements

428 251 139 330 243 100 153 104 626 55 Branches

Unique Branch Network

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29% 31% 32% 35% 40% 43% 47% 47% 60% 79% 38% 37% 34% 35% 27% 41% 27% 22% 30% 14% 33% 32% 34% 30% 33% 16% 26% 31% 10% 7% 0% 20% 40% 60% 80% 100% Galicia Standard BBVA Frances Santander Rio HSBC Credicoop Patagonia Supervielle Nacion Macro

Strongest presence outside buenos Aires1

Interior of Argentina BA Province BA City

Source: BCRA Notes: 1 - As of December 31st., 2012 except Macro as of March 31st.,2013.

Metropolitan Area & Great Buenos Aires1 Rest of Buenos Aires Province1

Branch Network: Buenos Aires

Keep increasing our market share in Buenos Aires

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% Bank (total branches) Total Market Share 1 SANTANDER RIO 156 11% 2 GALICIA 141 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 STANDARD 58 4% 12 MACRO 50 4% 13 COMAFI 49 3% 14 SUPERVIELLE 48 3% Others 184 13% Financial System 1411 100%

Peso 91% Dollar 9% Source: BMA Notes: 1 - As of March 31st., 2013.

Loans (Ps. 32,732 million Ps)1 Deposits (Ps. 39,059 million Ps.)1

Loan & Deposit Breakdown

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Public 2% Financial 1% Private 97% Public & Fin 24% Private 76% Pub & Fin 23% Consumer 50% Corporate 27% Consumer 50% Corporate 47% Pub & Fin 3% Peso 93% Dollar 7%

Retail 50% Corporate 47% Pub & Fin 3%

Retail Customers1 Loans to Retail Customers1  1,777,664 credit cards issued  658,362 customers with personal loans  low credit risk (payment through payroll deduction)  average loan (sales) of Ps.14,185 (approx. US$ 2,886)2  average interest rate of 32.87%  average maturity of 44,8 months

• Ps. 15,9 billion

(US$ 3,2 billion)2

Source: BMA Notes: 1 - As of March 31st., 2013. 2 - Translated at the rate of Ps.5,122 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 569,539 Public sector payroll plans 546,592 Retirees 689,218 Open Market 320,338 Total saving accounts 2,125,687 Checking accounts 424,086 Debit cards 1,906,384  Significant cross-selling opportunities  27% with personal loans  41% with credit cards

Unique focus: low and mid-income individuals

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Personal 70% Credit Cards 27% Mortgages 2% Others 1%

Overdraft 31% Documents4 17% Mortgage Loans 8% Pledged Loans5 6% Others3 38%

Corporate Banking

Corporate Customers1

Source BMA Notes: 1 - As of March 31st., 2013. 2- Translated at the rate of Ps.5.122 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 505 1% Medium 1,927 2% Agro 17,737 20% Small 69,803 77% Total 89,972 100% 18

 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 50% Corporate 47% Pub & Fin 3%

Source: BMA and BCRA Note: 1- As of December 31st., 2012 2- As of March 31st.,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

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Personal Loans

Open Market 14% Retirees 21% Private Payroll Plan 25% Public Payroll Plan 40% Tucumán 16% Jujuy 8% NOA6 19% NEA5 15% AMBA3 y Sur 18% Center4 24% 2,000 4,000 6,000 8,000 10,000 12,000 2006 2007 2008 2009 2010 2011 2012 (Million Ps.)

Personal Loans Growth

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

Peer Comparison1

1,475 3,255 3,881 4,099 5,911 9,260 11,177 11,815 2006 2007 2008 2009 2010 2011 2012 Mar-13

Volume (Millon Ps.)

44 49 35 42 52 45 42 43 6,006 6,809 5,725 9,491 13,192 12,223 11,024 14,185 2006 2007 2008 2009 2010 2011 2012 Mar-13

Maturity & Average Loan (sales)

Maturity Average Loan (sales)

Credit Cards

Source: BMA

Notes: 1 – As of December 31st., 2012. 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

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Open Market 33% Retirees 24% Private Payroll 26% Public Payroll 17% Tucumán 9% Jujuy 6% NOA6 14% NEA5 11% AMBA3 & South 28% Center4 32% 3,892 3,643 2,369 2,076 1,892 750 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

Credit Card Growth (In thousands)

SANTANDER GALICIA FRANCES MACRO PROVINCIA 445 680 736 789 1,329 2,730 4,372 4,518 2006 2007 2008 2009 2010 2011 2012 Mar-13

Volume (Millon Ps.)

666 654 555 702 1,012 1,008 1,186 1,195 2006 2007 2008 2009 2010 2011 2012 Mar-13

Open accounts (in Thousands)

Assets’ Breakdown Liabilities’ Breakdown

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Assets and Liabilities

18 16 16 19 16 15 21 18 22 20 21 26 21 11 5 9 45 51 50 41 47 59 64 64 6 6 6 9 11 11 5 6 8 7 6 5 5 5 5 4 25 50 75 100 2006 2007 2008 2009 2010 2011 2012 IQ13 (%) Other assets Other receivables from financial intermediation Loans Government securities 83 80 81 79 80 79 86 87 10 11 10 12 14 14 8 7 25 50 75 100 2006 2007 2008 2009 2010 2011 2012 IQ13 (%) Non - subordinated Corporate Bonds Other liabilities Subordinated corporate bonds Other liabilities from financial intermediation Deposits

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

22

BMA Results

Source: BCRA/BMA

Attractive profitability levels

23

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 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 460 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 (Million Ps.) 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% 2013

• Rdo. Neto: Ps.458m

ROE: 28.4%

Source: BMA Notes: 1- Financial System as 0f Febrery 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.

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Superior and Consistent Performance

60.7 62.5 52.8 48.0 55.8 55.0 51.6 50.9 52.8 51.3 56.6 54.1 54.2 61.9 62.9 63.7 40 60 80 20 40 60 80 2006 2007 2008 2009 2010 2011 2012 1Q13 Net Fee Inc. / Adm. Exp. (%) Efficiency (%)

Efficiency Ratio4

Efficiency (%) Net fee Inc./ Adm. Exp (%) 7.1 6.8 8.2 11.7 11.1 10.9 11.9 12.9 32.4 32.0 29.9 26.0 30.2 34.1 32.5 32.4 25 30 35 2 4 6 8 10 12 14 2006 2007 2008 2009 2010 2011 2012 1Q13 Fee Income Ratio (%) NIM (%)

NIM2 and Net Fee Income Ratio3

NIM Fee Income Ratio 3.6 2.8 3.0 3.1 3.6 3.4 3.3 3.7 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 1Q13 (%)

ROA Evolution1

Macro Financial System 22.2 20.2 23.8 24.6 27.1 26.7 27.1 28.4 14.3 11.0 13.4 19.2 24.4 25.3 25.7 24.9 5 10 15 20 25 30 2006 2007 2008 2009 2010 2011 2012 1Q13 (%)

ROE 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

25

Source: BMA Notes: 1- As of February 28th, 2013. 2- Annualized. 500 1,000 1,500 2,000 2,500 3,000 2006 2007 2008 2009 2010 2011 2012 IQ13 (*) (Million Ps.)

Fee Income Growth

Fee charges on deposit accounts Debit and credit card income Credit-related fees Other 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 IQ13 (Million Ps.)

Loan Portfolio Growth

Organic Inorganic 69% 17% 3% 42% 52% 28% 4% 8.1% 6.8% 0% 2% 4% 6% 8% 10% 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Loans to Private Sector Private Sector Deposits

I II III IV V

Source: BCRA/ BMA Notes: 1- As of March 31st., 2013.

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Central Bank Notes Portfolio

267 805 272 100 200 300 400 500 600 700 800 900 Apr-13 May-13 Jun-13 (Million Ps.)

BCRA Instruments Stock1 - Maturity

10 20 30 40 50

1Q07 3Q07 1Q08 3Q08 1Q09 3Q09 1Q10 3Q10 1Q11 3Q11 1Q12 3Q12 1Q13

(%)

(NOBAC/LEBAC Income) / Net Financial Income

16 17 15 19 11 1 0.26 2.70 5 10 15 20 2006 2007 2008 2009 2010 2011 2012 1Q13 (%)

LEBACs-NOBACs / Assets

2 1.5 2.6 3.2 2.1 1.5 1.8 1.7 3 5 2006 2007 2008 2009 2010 2011 2012 1Q13 (%)

Banco Macro NPLs as a % of Total Lending1 Coverage Ratio

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

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Asset Quality

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 1Q13 (%)

Financial System1

156.3 141.8 138.2 116.1 147.2 158.1 154.5 156.2 1,7 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

108.0 115.0 117.0 115.0 148.0 176.0 141.0 136.0 1.8 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 March 31st., 2013. 2 - Net of LEBACs and NOBACs.

(Million Ps.)¹ Government Assets² 1,981 Government Liabilities

• 44

Total Net Exposure 1,937 28

Solid Capitalization and Solvency

1,915 1,821 1,772 2,364 2,562 2,033 2,067 2,506 20,2 10 20 30 40 500 1,000 1,500 2,000 2,500 2006 2007 2008 2009 2010 2011 2012 1Q13 Capitalization Ratio (%) Excess of Capital (Million Ps.)

Excess of Capital

Excess Capital Capitalization Ratio 14.1 10.1 7.8 9.7 8.8 9.0 9.0 12.8 8.7 8.1 8.0 7.8 8.7 8.2 5 10 15 Galicia BBVA Frances Patagonia Santander Macro Financial System 10 Largest Private Banks (%)

Assets/Equity

Dec-11 Dec-12 11.2 5.4 6.3 3.9 2.5 2.4 3.9 3.8 22.5 16.3 12.7 14.4 12.1 10.7 9.7 9.6 6 12 18 24 2006 2007 2008 2009 2010 2011 2012 IQ13 (Public Sector Assets/Total Assets %) Banco Macro Financial System

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 (Million Ps.) Time deposits Sight deposits Other

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

Source: BMA/BCRA

48% low-cost funding  Appropriate liquidity available to take advantage of expected credit expansion Deposit Base Liquidity Management

6% 42% 52%

(Ps. Million)

1Q12 1Q13 Cash + cash collateral + call 9,807.5 10,129 Repos 119.1 337.2 Central Bank Bill (Lebacs / Nobacs) 3,901.7 2,296 Liquid Assets 13,823.3 12,762.2 Liquid Assets / Deposits 42.2% 32.7% 29

Funding & Risk Management

Notes: 1- As of March 31, 2013. 2- As of March 31, 2013. Source: BMA Earning release 3- As of February 25,2013. Source: JP Morgan 4- As of January 31, 2013, Source: BCRA

Peers and Financial System Share Evolution L180 D1 Share Evolution L60 D1

Benchamark with Argentine Banks

30 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 Jul-12 Aug-12 Sep-12 Nov-12 Dec-12 Jan-13 Mar-13 (%) BMA FRAN BPAT GGAL (15) (5) 5 15 Jan-13 Jan-13 Feb-13 Mar-13 (%) BMA FRAN BPAT GGAL

Source: BCRA/BMA

Profitability Scale

31

Large Scale and Profitability

Value (Million Ps) Market Share 1 NACION 4,449 22% 2 SANTANDER RIO 1,954 10%

3 MACRO 1,630 8%

4 GALICIA 1,301 7% 5 BBVA FRANCES 1,264 6% 6 HSBC 1,039 5% 7 CITI 1,006 5% 8 PATAGONIA 885 4% 9 CIUDAD DE BS AS 667 3% 10 PROVINCIA DE BS AS 660 3% Financial System 19,822 100% LTM Net Income ( Dec-2012)

Value (Million Ps) Market Share 1 NACION 19,352 21% 2 SANTANDER RIO 6,693 7% 3 MACRO 6,707 7% 4 BBVA FRANCES 5,132 6% 5 GALICIA 4,904 5% 6 HSBC 3,992 4% 7 CITI 3,616 4% 8 CIUDAD DE BS AS 3,547 4% 9 HIPOTECARIO 3,456 4% 10 PROVINCIA DE BS AS 3,423 4% Financial System 90,823 100% Equity (Dec-2012)

Value (Million Ps) Market Share 1 NACION 222,414 28% 2 PROVINCIA DE BS AS 55,621 7% 3 SANTANDER RIO 53,226 7% 4 GALICIA 52,557 7% 5 MACRO 47,844 6% 6 BBVA FRANCES 43,784 6% 7 HSBC 34,121 4% 8 CREDICOOP 27,441 3% 9 CIUDAD DE BS AS 26,006 3% 10 PATAGONIA 25,823 3% Financial System 790,375 100% Total Assets (Dec-2012) Value (Million Ps) Market Share 1 NACION 178,293 30% 2 PROVINCIA DE BS AS 49,093 8% 3 SANTANDER RIO 40,734 7% 4 GALICIA 39,188 7% 5 MACRO 35,395 6% 6 BBVA FRANCES 34,171 6% 7 HSBC 26,135 4% 8 CREDICOOP 23,512 4% 9 CIUDAD DE BS AS 20,836 3% 10 PATAGONIA 18,645 3% Financial System 595,764 100% Total Deposits (Dec-2012)

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

32

9.8% 9.3% 8.9% 5.9% 5.8% 5.1% 5.0% 4.3% 4.2% GF Galicia Macro Santander Bancolombia Bradesco Itaú-UBB Credicorp

• B. de Chile

GF Banorte 38.4% 44.8% 45.3% 47.7% 51.6% 52.1% 53.5% 54.6% 69.4% Santander Bradesco Itau-UBB

• B. de Chile

Macro Credicorp GF Banorte Bancolombia GF Galicia 5.7% 4.2% 3.3% 2.9% 2.5% 2.3% 1.9% 1.7% 1.6% GF Galicia Macro Credicorp Bancolombia Itaú-UBB Bradesco Santander GF Banorte

• B. de Chile

155.7% 144.7% 125.6% 112.5% 109.7% 107.5% 100.3% 86.1% 85.7% Itaú-UBB Bradesco

• B. de Chile

GF Galicia Santander Bancolombia GF Banorte Macro Credicorp 6.6% 5.8% 4.0% 3.7% 3.3% 3.0% 2.1% 2.0% 1.7% Itaú-UBB Santander Bradesco GF Galicia

• B. de Chile

Bancolombia GF Banorte Credicorp Macro 179.3% 172.8% 157.1% 155.8% 137.4% 110.7% 109.5% 103.2% 69.9% Bradesco Credicorp Macro Bancolombia GF Banorte Itaú-UBB GF Galicia Santander

• B. de Chile

30.1% 27.8% 23.8% 20.5% 19.1% 18.2% 16.0% 14.7% 6.7% GF Galicia Macro

• B. de Chile

Credicorp Itaú-UBB Bradesco Bancolombia GF Banorte Santander 3.4% 2.3% 2.0% 2.0% 1.9% 1.5% 1.4% 1.3% 1.3% Macro GF Galicia Credicorp

• B. de Chile

Bancolombia Itaú-UBB Bradesco GF Banorte Santander 21.5% 20.2% 17.7% 17.0% 15.7% 15.6% 14.6% 14.0% 13.5% Santander Macro Itaú-UBB Bancolombia GF Banorte Bradesco Credicorp GF Galicia B.de Chile

Denomination Amount (USD)

Maturity

Coupon Ratings Original Oustanding Moodys Fitch Subordinated (Class 1) 150 150 2036 Bullet 9.75% B2 CCC Senior Note (Class 2) 150 106 2017 Bullet 8.50% B2 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 March 31, 2013

33

Ownership Structure1 | Debt & Equity Information

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

34

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 Decisionto 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 March 31st, 2013

2012 2013

OUR GROWTH STORY

37 years of experience in the Argentine Financial System

Analysts covering the stock

Source: BMA

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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

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Financial Summary

Assets 45,329.3 46,370.6 48,089.8 48,379.0 51,454.2 Cash 9,235.40 7,221.00 7,393.70 10,047.00 9,270.30 Government and Private Securities 4,800.70 5,143.40 5,204.00 2,343.10 4,451.20 Loans 25,303.80 26,842.20 28,696.70 31,202.60 32,722.50 to the non-financial government sector 322.90 316.70 330.30 586.60 604.60 to the financial sector 385.20 519.70 528.10 299.30 464.40 to the non-financial private sector and foreign residents 25,266.80 26,757.80 28,618.50 31,203.90 32,562.10 Other receivables from financial intermediation 3,805.10 5,103.30 4,561.80 2,380.20 2,970.90 Receivables from financial leases 322.20 304.50 290.70 321.50 351.40 Investments in other companies 9.40 10.20 10.30 11.60 11.70 Other receivables 675.00 530.20 747.40 855.20 427.20 Other assets 1,177.70 1,215.80 1,185.20 1,217.80 1,249.00 Liabilities 40,285.9 41,009.2 42,316.5 42,179.9 44,797.2 Deposits 32,741.8 33,599.6 34,695.0 36,188.7 39,059.2 From the non-financial government sector 7,450.3 8,242.7 8,227.1 8,318.4 9,220.8 From the financial sector 20.9 20.0 21.9 24.2 20.2 From the non-financial private sector and foreign residents 25,270.6 25,336.9 26,446.0 27,846.1 29,818.2 Other liabilities from financial intermediation 5,448.9 5,755.4 5,657.3 3,785.0 3,808.8 Subordinated corporate bonds 675.1 681.0 723.6 740.2 789.8 Other liabilities 1,420.1 973.2 1,240.6 1,466.0 1,139.4 Shareholder´s Equity 5,043.4 5,361.4 5,773.3 6,199.1 6,657.0 Liabilities + Shareholder´s Equity 45,329.3 46,370.6 48,089.8 48,379.0 51,454.2 I13 Quarterly Balance Sheet (In Million $) I12 II12 III12 IV12

Financial Summary

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

Annula Ratios I12 II12 III12 IV12 I13 Profitability & performance Net interest margin 11.6% 11.5% 12.1% 12.5% 12.9% Net interest margin adjusted (1) 11.7% 12.2% 12.6% 13.0% 13.2% Net fee income ratio 34.6% 32.6% 31.9% 31.1% 32.4% Efficiency ratio 50.6% 51.2% 49.3% 55.0% 50.9% Net fee income as a percentage of adm expenses 68.5% 63.6% 64.7% 56.5% 63.7% Return on average assets 3.1% 2.9% 3.6% 3.5% 3.7% Return on average equity 26.1% 25.2% 28.9% 27.8% 28.4% Liquidity Loans as a percentage of total deposits 79.3% 82.1% 85.0% 88.7% 86.1% Liquid assets as a percentage of total deposits 42.2% 36.3% 35.2% 31.8% 32.7% Capital Total equity as a percentage of total assets 11.1% 11.6% 12.0% 12.8% 12.9% Regulatory capital as a percentage of risk weighted assets 18.3% 18.7% 18.5% 19.0% 20.2% Asset Quality Allowances over total loans 2.6% 2.7% 2.6% 2.8% 2.7% Non-performing loans as a percentage of total loans 1.6% 1.6% 1.6% 1.8% 1.7% Allowances as a percentage of non-performing loans 161.7% 170.8% 162.8% 155.4% 157.2% Amparos as a percentage of average equity 1.0% 0.9% 0.0% 0.0% 0.0%

Financial income 1,562.2 1,656.5 1,764.3 1,921.4 2,047.0 Financial expense (669.7) (654.8) (704.6) (798.5) (880.5) Net financial income 892.5 1,001.7 1,059.7 1,122.9 1,166.5 Provision for loan losses (130.2) (169.9) (103.0) (197.3) (128.5) Fee income 602.6 637.8 673.7 730.7 764.5 Fee expense (129.7) (153.3) (177.4) (225.0) (204.5) Net fee income 472.9 484.5 496.3 505.7 560.0 Administrative expenses (690.9) (761.2) (767.6) (895.8) (878.5) Minority interest in subsidiaries (2.4) (3.4) (3.8) (4.2) (3.9) Net other income 3.4 32.2 (16.8) 21.8 31.7 Earnings before income tax 545.3 583.9 664.8 553.1 747.3 Income tax (221.5) (251.8) (252.9) (127.3) (289.4) Net income 323.8 332.1 411.9 425.8 457.9 I13 Quaterly Income Statement (In Million $) I12 II12 III12 IV12