Macro BMA

Not to be confused with Banco Macro.

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]

Banco BMA S.A.U.

Formerly	Banco Itaú Argentina
Company type	Subsidiary
Industry	Finance and Insurance
Founded	November 4, 2023; 19 months ago (2023-11-04)
Defunct	November 19, 2024 (2024-11-19)
Fate	Merged with Banco Macro
Successor	Banco Macro
Headquarters	Buenos Aires, Argentina
Products	Banking Insurance Private Bank
Revenue	US$ 296.7 million (2012) [citation needed]
Net income	US$ 22.4 million (2012) [citation needed]
Total assets	US$ 2.0 billion (2012)[1]
Number of employees	1,650 [citation needed]
Parent	Banco Macro
Website	www.macrobma.com.ar (archived)

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]