ARGENTINA · BANKING
Key Facts
- The country Argentina, where Banco Macro has the most branches among private banks and trades in New York as BMA.
- Power Index Argentina ranks 4th of 14 in The Rio Times Latin America Power Index, with 61.2 points (October 2026 edition).
- What happened Banco Macro launched Macro Private Bank for clients with at least US$300,000 to invest.
- The tiers A first tier starts at US$300,000, and a fuller service starts at US$1 million.
- US angle Its shares trade in New York, and its board approved a buyback on 28 October 2026.
- The wait No revenue or asset target for the new unit has been published as of Sunday 1 November 2026.
Banco Macro, one of Argentina’s largest private banks, has launched Macro Private Bank, a wealth service for clients with at least US$300,000 to invest. The bank’s executives presented the unit publicly in the last week of October 2026.
Banco Macro’s shares trade on the New York Stock Exchange under the ticker BMA, so US investors can follow the bet. The launch came in the same week as a share buyback, and our Argentina market report for 29 October shows the stock.
In Plain English
Private banking gives wealthy clients one personal banker for investments, taxes and family money. Executives say many wealthy Argentines manage their fortunes with international banks, and Banco Macro wants to compete with firms such as JPMorgan and Morgan Stanley.
Banco Macro is a universal bank, offering every standard service, with 402 branches and 6.36 million retail customers in June 2026. It started in 1985 as a non-bank lender and says it now has the largest branch network of any local private bank in Argentina.
What Macro Private Bank Offers
The service has two tiers: clients with at least US$300,000 invested through the bank, and a fuller service for clients above US$1 million. Every client gets a personal banker, and the top tier gets a more experienced one.
Clients above US$1 million also receive a metal Visa Infinite card with a limit of up to US$1 million. They get access to about 150 private clubs in major cities worldwide and unlimited use of roughly 1,400 airport lounges.
The same tier includes tax advice from professional firms linked to the bank and its shareholders. The bank says these perks are extras and that the real product is the investment and wealth advice.
Clients can hold Argentine assets, such as company bonds and government bonds, and foreign assets through Macro Bank, the group’s subsidiary in the Bahamas. Juan Parma, the bank’s chief executive, said it is not an offshore bank and not a 100% foreign proposal.
Live Market IntelligenceArgentina — Live Market Board
Rio Times · Live Market Intelligence
Argentina — Live Market Board
-2.59%
167,921.80
-0.75%
69,779.20
-0.01%
10,254.15
-2.76%
92,079
-2.59%
2,490.92
+0.04%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| MERVAL | 92,079 | -2.59% | +12.65% | 2,859,051 | — | — | — |
| USD/ARS | 1,537 | -0.28% | +3.77% | 1,541 | 1,541 | 1,537 | — |
| YPF | 8,140 | -1.45% | +67.04% | 8,260 | 8,400 | 8,130 | 1,057,856 |
| GGAL | 5,825 | -2.27% | -17.84% | 5,960 | 6,090 | 5,820 | 1,091,278 |
| PAMPA | 5,035 | -2.04% | +11.33% | 5,140 | 5,225 | 5,025 | 226,261 |
| TXAR | 761.00 | -3.00% | +29.77% | 784.50 | 798.50 | 757.00 | 1,172,882 |
| ALUAR | 855.00 | -1.50% | +5.30% | 868.00 | 910.00 | 854.00 | 265,896 |
| TGS | 8,400 | -4.00% | -6.25% | 8,750 | 8,920 | 8,400 | 71,435 |
| CEPU | 1,920 | -1.39% | -1.35% | 1,947 | 1,999 | 1,909 | 165,948 |
| MIRGOR | 1,775 | -0.56% | -90.15% | 1,785 | 1,805 | 1,735 | 6,214 |
| COME | 35.15 | -1.90% | -14.82% | 35.83 | 35.90 | 35.01 | 2,274,189 |
| LOMA NEGRA | 3,085 | -2.14% | +2.32% | 3,153 | 3,200 | 3,085 | 110,621 |
| BYMA | 237.00 | -1.46% | +5.80% | 240.50 | 246.00 | 236.50 | 687,747 |
| TELECOM ARG | 3,870 | -3.31% | +22.00% | 4,003 | 4,108 | 3,870 | 11,330 |
| GLOBANT | 42.42 | -5.73% | -31.91% | 45.00 | 45.00 | 42.35 | 257,828 |
| MERCADOLIBRE | 1,700 | +1.89% | -26.07% | 1,669 | 1,728 | 1,672 | 504,596 |
Who Is Behind the Launch
Juan Parma has been chief executive of Banco Macro since 1 April 2025, according to its annual report. He presented the unit with Mateo Brito, president of Macro Securities, the group’s brokerage, and Macro Fondos, its fund manager.
Mateo Brito belongs to the Brito family, founding shareholders, and a trust for the heirs of the late Jorge Horacio Brito is a top holder. Parma said the aim is to be the client’s main bank, not the only one, for fortunes of US$1 million to US$15 or 20 million.
About 2,000 clients of Selecta Privada, the bank’s premium client segment, already meet the entry bar, which is about 20% of that segment. A significant share of the rest has said it is interested, the executives said.
How Banco Macro Is Doing
The bank earned 206.8 billion pesos (about US$135 million) in the second quarter, up 39% on the first quarter and 4% on a year earlier. It reported this on Wednesday 19 August 2026, with an annualised return on average equity of 13.4%.
Deposits were 14.74 trillion pesos (about US$9.6 billion), down 1% on the quarter, and dollar deposits fell 11%. Loans and other financing came to 11.69 trillion pesos (about US$7.6 billion), up 3% on the quarter but 5% below a year earlier.
The bank reported a capital adequacy ratio of 28%, a measure of its financial cushion, and non-performing loans at 6.25% of total financing. Our report on Argentina’s bank delinquency gives more background on loan quality at Argentine banks.
What It Means for You
US investors can own Banco Macro through American depositary shares, dollar-priced certificates for Argentine stock, traded in New York since March 2006. The bank has published no target for the new unit, so its size is not yet known.
On Wednesday 28 October 2026, the board approved a buyback of up to 20 million shares, capped at 160 billion pesos (about US$104 million). The price cap is 10,700 pesos (about US$7) a share, and the program runs for 45 calendar days.
The board said the recent drop in the share price does not reflect the value of the bank’s assets, and it wants to cut volatility. Our reports on the 28 October sell-off and the 29 October rebound show the shares fell 2.5% and then rose 1.8% in New York.
The launch also ties into how Argentines use dollars, which we followed in our report on households’ cash dollar purchases. Wealthy savers who move money back into a local bank would add to the deposits that Argentine lenders can use.
What Is Not Known
The bank has not published a target for assets, revenue or client numbers for Macro Private Bank. Fees and the date the first clients join have not been stated.
Banco Macro’s US regulatory filings listed through Saturday 31 October 2026 contain no separate notice on the unit. It is also not known how much of the savings Argentines keep abroad the bank can win back.
What Comes Next
The bank released third-quarter results between 23 November and 1 December in each of the last four years. Investors will look there for news of the new unit, and the 45-day buyback window runs into December.
For background, see our guide to who runs Argentina’s economy and our report on Mercado Pago’s bank licence bid. Visitors to the capital can use our Buenos Aires city page.
More: Argentina news in English, every day from The Rio Times.
Frequently Asked Questions
What is Macro Private Bank?
It is a new private banking unit of Banco Macro for wealthy clients. It offers a personal banker, local and foreign investments and wealth planning.
How much money do clients need?
Clients need at least US$300,000 invested through the bank. A fuller service starts at US$1 million.
Can US investors buy the bank’s shares?
Yes, through American depositary shares listed on the New York Stock Exchange under the ticker BMA. They trade in dollars but reflect an Argentine bank earning in pesos.
Is Macro Private Bank an offshore bank?
No, according to chief executive Juan Parma. It combines Argentine investments with foreign assets held through the group’s Bahamas subsidiary.
Is Banco Macro buying back its shares?
Yes, its board approved a buyback on 28 October 2026 of up to 20 million Class B shares. The spending cap is 160 billion pesos (about US$104 million).
Sources: Banco Macro S.A., Form 6-K to the US Securities and Exchange Commission: relevant event, stock repurchase (translation of CNV filing), 28 October 2026; Banco Macro, press release: results for the second quarter of 2026, 19 August 2026; Banco Macro S.A., annual report on Form 20-F for 2025 (management, shareholders, listing), 20 April 2026; Banco Macro executives, public presentation of Macro Private Bank (no company release or filing published as of 1 November 2026), late October 2026.
In depth
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