March 2013 Investor Relations Sarmiento 447 3er piso (1041) CABA- Argentina Tel:(54-11) 5222-6682 investorelations@macro.com.ar
Company Representatives Finance Manager Jorge Scarinci, CFA Head of Investor Relations Ines Lanusse Investor Relations 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 or 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. 2
Agenda Investment Highlights Page 05 Argentine Macroeconomic and Financial Scenario Page 07 BMA Business Overview Page 12 BMA Financial Performance Page 23 Appendix Page 35 3
Agenda Investment Highlights Page 05 Argentine Macroeconomic and Financial Scenario Page 07 BMA Business Overview Page 12 BMA Financial Performance Page 23 Appendix Page 35 4
Investment Highlights 5
Agenda Investment Highlights Page 05 Argentine Macroeconomic and Financial Scenario Page 07 BMA Business Overview Page 12 BMA Financial Performance Page 23 Appendix Page 35 6
Macroeconomic Environment Net Exports 85 20 Real GDP Growth 18 15.0 16 45 9.2 9.2 9.0 8.9 8.8 8.7 8.5 10.0 14 6.8 (USD Billions) (USD Billions) 12 5.0 2.5 1.9 5 10 (%) 0.0 8 -1.0 (5.0) 6 -4.4 (35) (10.0) 4 -10.9 2 (15.0) 01 02 03 04 05 06 07 08 09 10 11 12 13 (1) (75) 0 01 02 03 04 05 06 07 08 09 10 11 12 13 (1) Exports Imports Balance Fiscal Result 28 4 Debt to GDP 3 70 Primary & Fiscal Result/ GDP (%) Income Expenses/ GDP (%) 60 2 22 50 1 (%) 40 0 30 16 -1 20 -2 10 10 -3 01 03 05 07 09 11 13 (1) 0 2006 2007 2008 2009 2010 2011 2012 2013 (1) Total Income/ GDP Total Expenses/ GDP Primary Result/ GDP Fiscal Result/ GDP 7 Notes: 1- Estimated (Source: BMA/MECON/REM/BCRA)
Monetary Performance and Financial Markets FX (Average) 2 4,000 Local Stock Market (Avergae) 2 5.50 3.00 3,000 5.00 2.50 (% ) 4.50 2,000 2.00 4.00 1,000 1.50 3.50 0 3.00 1.00 Mar-09 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13 Mar-09 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13 $/USD $/BRL Merval Public Debt Maturity (US$ Million) 1 Interest Rate - BADLAR 2 2015- 20.00 2013 2014 2018-2089 Total 2018 Titulos 10,976 11,691 43,526 120,284 186,477 Públicos Préstamos 6,015 4,890 9,323 14,583 34,811 Organismos (%) 2,431 2,225 5,830 10,232 20,718 Oficiales Mercado 3,584 2,664 3,493 4,351 14,092 14.00 abierto Adelantos 6,218 - - - 6,218 BCRA Total Deuda 23,209 16,581 52,849 134,867 227,506 Pública Capital 17,174 10,840 39,582 90,893 158,490 Intereses 6,035 5,741 13,266 43,974 69,015 8.00 Mar-10 Jul-10 Nov-10 Mar-11 Jul-11 Nov-11 Mar-12 Jul-12 Nov-12 Mar-13 Source: BCRA/Yahoo Finance Note: 1- As of June 30, 2012. Including capital and interest. 8 2- As of March 31 st ., 2013.
Profitability and Financial System Loan Growth Rates (YoY) 1 Deposits - Loans / PBI 1 Avg Avg Avg Avg Avg Avg Avg Avg Avg Avg 2003 Avg 2010 2012 2008 2009 2011 2013 ∆: (34%) 2004 2005 2007 2006 ∆: 37% ∆: 30% ∆: 23% ∆: 8% ∆: 48% ∆: 31% 32 ∆: 8% ∆: 33% ∆: 41% ∆: 41% 55 27 40 25 22 (%) 19 (%) 10 17 (5) 17 12 (20) (35) 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 7 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Commercial Consumer Total Source: BCRA Note: Depósitos S Privado Préstamos S Privado 9 1- As of February 28 th ., 2013 .
Banking System Market Share / Group of Banks 1 Deposits from the provate sector Loans to the private sector Private Bank (foreign) 34% Private Bank (foreign) 35% Private Bank (local) Private Bank 33% (local) 31% Public Bank Macro Public Bank Macro 33% 26% 34% 21% Loans/Deposits evolution with the private sector (YoY) Financial System 2 50 46 42 40 37 32 30 30 29 28 28 30 26 ( %) 20 20 20 9 10 7 0 2007 2008 2009 2010 2011 2012 2013 Source: BCRA Note: Loans to Private Sector Deposits from Private Sector 1- As of December 31 st ., 2012. 10 2 – As of February 28th., 2013.
Agenda Investment Highlights Page 05 Argentine Macroeconomic and Financial Scenario Page 07 BMA Business Overview Page 12 BMA Financial Performance Page 23 Appendix Page 35 11
Successful Business Model Leveraging our nationwide presence to serve our target customer markets
BMA Strategy Focus on mantaining healthy Loans to private sector grew 29% in LTM. volumes Deposits from private sector grew 18% in LTM. Shareholder value through Net Fees covering of 63.7% of operating expenses. operational excellence and Buying back equity and debt securities if applicable. market initiatives Operational Efficiency 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 Risk Management 1.7%. Currency: net long USD position since 3Q08. Capitalization: capital ratio at conservative 20.2%. Loans growth (organic and/or inorganic). Opportunities Increase business in branches. Increase our market share in the credit card market. 13
Unique Branch Network Largest private sector branch network in Argentina and exclusive financial agent in 4 provinces Nationwide Presence 2 Strongest presence outside buenos Aires 1 Branches Macro 428 79% 14% 7% Nacion 60% 30% 10% 55 Supervielle 47% 22% 31% 626 Patagonia 47% 27% 26% 104 Credicoop 43% 41% 16% 153 HSBC 40% 27% 33% 251 428 branches throughout the country Santander Rio 35% 35% 30% 139 1058 ATMs BBVA Frances 32% 34% 34% 330 837 TAS 42 Service points Standard 31% 37% 32% 243 Galicia 29% 38% 33% 100 Provinces with Branches 0% 20% 40% 60% 80% 100% Financial Agency Agreements Interior of Argentina BA Province BA City Financial Agency Agreements Exclusive and Long Term Relationships with Provincial Governments Provincial Large Customer Government’s Branch Agreement Cross Selling Base Bank Provinces Population Market Share expires Employees and relatives Salta 1,2 m 47% 2016 Low - Cost + Companies with Funding government contracts Misiones 1,1 m 52% 2019 Jujuy 0,7 m 47% 2014 Companies operating in Public regional economies Tucumán 1,5 m 44% 2021 Employees Fee Income Payroll Accounts Source: BCRA / BMA Notes: 14 1- As of December 31 st . 2012 except Macro as of March 31 st .,2013. Bank´s with 100 branches or more. 2- As of March 31 st . 2013.
Branch Network: Buenos Aires Keep increasing our market share in Buenos Aires 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% Metropolitan Area & Great Buenos 9 PATAGONIA 67 5% Aires 1 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% Bank (total branches) Total Market Share 1 PROVINCIA DE BS AS 212 30% 2 NACION 137 19% 3 SANTANDER RIO 60 8% Rest of Buenos 4 CREDICOOP 55 8% Aires Province 1 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% Source: BCRA Notes: 1 - As of December 31 st ., 2012 except Macro as of March 31 st .,2013.
Loan & Deposit Breakdown Deposits (Ps. 39,059 million Ps.) 1 Loans (Ps. 32,732 million Ps) 1 Public Financial Public & Fin 2% 1% 24% Private 97% Private 76% Pub & Fin 3% Pub & Fin Corporate 23% 27% Corporate 47% Consumer 50% Consumer 50% Dollar 7% Dollar 9% Source: BMA Peso Notes: 93% Peso 16 1 - As of March 31 st ., 2013. 91%
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