Banco Macro S.A. Q4 FY2025 earnings call

Banco Macro reported net income of ARS 100 billion in Q4 2025. Operating income before general, administrative and personnel expenses saw growth. The bank reduced its branch network by 75 branches and headcount by 514 employees while gaining market share. Restructuring expenses of ARS 82.9 billion were recorded related to retirement plans and severance provisions.

In the fourth quarter of 2025, Banco Macro's net income totaled ARS 100 billion. Net interest income totaled ARS 836.5 billion, 13% higher than the third quarter of 2025. Interest income was ARS 1.4 billion, 7% higher than the third quarter. Provision for loan losses totaled ARS 169.3 million, 1% lower than the third quarter. Administrative expenses plus employee benefits totaled ARS 412.4 billion, 15% higher than the previous quarter.

Management revised guidance for 2026. Expecting 20% real loan growth, 6% real deposit growth. Adjusted ROE is expected in the 8% area. Also, expecting similar restructuring charges in the following quarters.

Risks include macroeconomic volatility affecting securities performance. Potential regulatory changes impacting dollar lending and its impact on loan growth.

Q: Update on guidance after election?

A: Revised guidance due to adjusted GDP growth (2.8%-3%) and higher inflation (27%) projections.

Q: Gap between loans and deposits?

A: Securities portfolio can finance the gap, and real interest rates being slightly positive affect deposit growth.