Macro BMA

Not to be confused with Banco Macro.
Banco BMA S.A.U.
FormerlyBanco Itaú Argentina
Company typeSubsidiary
IndustryFinance and Insurance
FoundedNovember 4, 2023; 13 months ago (2023-11-04)
DefunctNovember 19, 2024 (2024-11-19)
FateMerged with Banco Macro
SuccessorBanco Macro
HeadquartersBuenos Aires, Argentina
ProductsBanking
Insurance
Private Bank
RevenueIncrease US$ 296.7 million (2012) [citation needed]
Increase US$ 22.4 million (2012) [citation needed]
Total assetsDecrease US$ 2.0 billion (2012)[1]
Number of employees
1,650 [citation needed]
ParentBanco Macro
Websitewww.macrobma.com.ar (archived)

Macro BMA was an Argentine banking entity owned by Banco Macro between November 2023 and November 2024. It was a successor to the Argentine subsidiary of the Brazilian Itaú bank, created on November 4, 2023, one day after the Argentine Central Bank authorized Grupo Macro to acquire the aforementioned subsidiary.[2][3] It ceased to exist on November 19, 2024, after which all of Macro BMA's customers became part of Macro.[4][5][6]

History

Brazilian banking conglomerate Itaú Unibanco originally agreed to sell the entirety of its Argentine subsidiary (Banco Itaú Argentina) to Grupo Macro for US$50 million on August 24, 2023.[7][8] However, the sale required approval from the Argentine Central Bank, which authorized the transaction on November 3 of the same year.[2][3]

One day later on November 4, 2023, Banco Itaú Argentina was renamed to Macro BMA[2][3] (registered as Banco BMA S.A.U[9]). The bank existed as a separate entity from its parent for 1 year and 15 days.[5] Macro first announced it would merge the two banks together in early September 2024, anticipating the November 19, 2024 date.[10]

As planned, Macro BMA alongside all of its customers and their products were fully fused into Banco Macro on November 19, 2024.[4][5][6]

References

  1. ^ "Bancos brasileiros devem dar mais atenção para o exterior - Panorama Brasil". Archived from the original on 2012-04-01. Retrieved 2011-10-09.
  2. ^ a b c Jueguen, Francisco (2023-11-02). "El BCRA autorizó la operación y el Banco Macro cerró la compra del Itaú por US$50 millones" [The Central Bank has authorized the transaction and Banco Macro closed the purchase of Itaú for US$50 million]. La Nación (in Spanish). Archived from the original on 2023-11-06. Retrieved 2024-11-22.
  3. ^ a b c Clarín, Redacción (2023-11-03). "Qué pasará con los clientes del Banco Itaú tras la compra por el Banco Macro". Clarín (in Spanish). Archived from the original on 2023-11-03. Retrieved 2024-11-22.
  4. ^ a b Alburquerque, J. Antonio (2024-11-19). "A un año de la fusión con Banco Macro, Itaú sella su salida de Argentina | DF SUD" [One year after its merger with Banco Macro, Itaú completes its exit from Argentina | DF SUD]. dfsud.com (in Spanish). Archived from the original on 2024-11-19. Retrieved 2024-11-22.
  5. ^ a b c "Macro;". Banco Macro. 2024-11-19. Archived from the original on 2024-11-22. Retrieved 2024-11-22. A partir del 19/11/2024 Macro BMA se fusionó con Banco Macro [Macro BMA fused with Banco Macro on November 19, 2024]
  6. ^ a b Reinhold, Melisa (2024-11-11). "El Banco Macro y BMA se fusionan: qué cambia para los clientes". La Nación (in Spanish). Archived from the original on 2024-11-13. Retrieved 2024-11-22.
  7. ^ "Macro anunció la compra de Itaú en Argentina por US$ 50 millones". Perfil (in Spanish). 2023-08-24. Archived from the original on 2023-09-02. Retrieved 2024-11-22.
  8. ^ "Banco Macro confirmó la compra de Itaú por u$s50 millones". Ámbito Financiero. Archived from the original on 2023-08-25. Retrieved 2024-11-22.
  9. ^ "Macro BMA". Macro BMA (archived). 2024-01-27. Retrieved 2024-11-23.
  10. ^ Chandler, Sir (2024-09-07). "El Macro informó sobre la integración final de los clientes del Itaú" [Macro informed on the final integration of Itau's customers]. Sir Chandler (in Spanish). Archived from the original on 2024-09-07. Retrieved 2024-11-23.


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