Macro Bank Inc. Files 20-F Annual Report

TL;DR

<b>Macro Bank Inc. filed its 20-F annual report, detailing subsidiary operations, risk fund management, and recent bond issuances.</b>

AI Summary

Macro Bank Inc. (BMA) filed a Foreign Annual Report (20-F) with the SEC on April 29, 2024. Macro Bank Inc. filed its 20-F annual report for the fiscal year ending December 31, 2023. The report includes balance amounts of its subsidiary Macro Fondos SGFCISA. The company has a risk fund ('Fondo de Riesgo') to cover granted guarantees, with assets restricted to partner withdrawals and guarantee coverage. As of December 31, 2023, the risk fund is related to Fintech SGR, Alianza SGR, and Innova SGR. On October 31, 2023, Macro Bank Inc. issued Class F corporate bonds with a face value of USD 53,000,000 at a 5% fixed rate, maturing October 31, 2024.

Why It Matters

For investors and stakeholders tracking Macro Bank Inc., this filing contains several important signals. The filing provides a comprehensive overview of Macro Bank's financial health and operational structure, including its subsidiary Macro Fondos SGFCISA and the specific use of its risk fund. Details on the Class F corporate bonds issued in October 2023, including their face value, interest rate, maturity, and redemption terms, offer insight into the company's recent financing activities and debt management.

Risk Assessment

Risk Level: medium — Macro Bank Inc. shows moderate risk based on this filing. The company's reliance on risk funds and specific bond issuances with defined redemption terms indicates potential financial sensitivities and regulatory considerations.

Analyst Insight

Investors should review the detailed financial statements and risk factor disclosures within the 20-F to assess Macro Bank's financial stability and future prospects.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report.)
• 20240429 — Filing Date (Date the 20-F was filed.)
• 53,000,000 — Class F Bonds Face Value (Issued on October 31, 2023.)
• 5% — Class F Bonds Interest Rate (Fixed rate for bonds issued October 31, 2023.)
• 17,000,000 — Class E Bonds Face Value (Issued on May 2, 2022.)
• 1.45% — Class E Bonds Interest Rate (Fixed rate for bonds issued May 2, 2022.)

Key Players & Entities

• Macro Bank Inc. (company) — Filer of the 20-F report.
• Macro Fondos SGFCISA (company) — Subsidiary whose balance amounts are included.
• Fondo de Riesgo (other) — Risk fund mentioned in the filing.
• Fintech SGR (company) — Entity related to the risk fund as of Dec 31, 2023.
• Alianza SGR (company) — Entity related to the risk fund as of Dec 31, 2023.
• Innova SGR (company) — Entity related to the risk fund as of Dec 31, 2023.
• USD 53,000,000 (dollar_amount) — Face value of Class F corporate bonds issued.
• USD 17,000,000 (dollar_amount) — Face value of Class E corporate bonds issued.

FAQ

Risk Factors

• Risk Fund Management [medium — financial]: The company maintains a risk fund ('Fondo de Riesgo') to cover granted guarantees, with specific restrictions on asset application.
• Corporate Bond Issuances [medium — financial]: Details on Class F and Class E corporate bonds, including face value, interest rates, maturity dates, and redemption terms, are provided.

Key Financial Figures

• $1.00 — e Central Bank was Ps.808.4833 to U.S.$1.00. The accompanying consolidated financ

Filing Documents

• d89987d20f.htm (20-F) — 10208KB
• d89987dex81.htm (EX-8.1) — 6KB
• d89987dex121.htm (EX-12.1) — 6KB
• d89987dex122.htm (EX-12.2) — 6KB
• d89987dex131.htm (EX-13.1) — 4KB
• d89987dex132.htm (EX-13.2) — 4KB
• d89987dex971.htm (EX-97.1) — 55KB
• g89987dsp4.jpg (GRAPHIC) — 5KB
• g89987dsp94.jpg (GRAPHIC) — 13KB
• g89987g0424072457088.jpg (GRAPHIC) — 2KB
• g89987g0424072457347.jpg (GRAPHIC) — 2KB
• 0001193125-24-122871.txt (&nbsp;) — 41658KB
• bma-20231231.xsd (EX-101.SCH) — 364KB
• bma-20231231_cal.xml (EX-101.CAL) — 90KB
• bma-20231231_def.xml (EX-101.DEF) — 1455KB
• bma-20231231_lab.xml (EX-101.LAB) — 1570KB
• bma-20231231_pre.xml (EX-101.PRE) — 1548KB
• d89987d20f_htm.xml (XML) — 10778KB

From the Filing

Form 20-F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) Registration statement pursuant to Section 12(b) or 12(g) of the Securities Exchange Act of 1934 or Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31 , 2023 or Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 or Shell Company Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of the event requiring this shell company report. For the transition period from to Commission file number: 001-32827 BANCO MACRO S.A. (Exact Name of Registrant as Specified in its Charter) Macro Bank, Inc. (Translation of registrant's name into English) Republic of Argentina (Jurisdiction of incorporation or organization) Avenida Eduardo Madero 1182 , City of Buenos Aires , Argentina (Address of registrant's principal executive offices) Jorge Francisco Scarinci Chief Financial Officer Banco Macro S.A. Avenida Eduardo Madero 1172, 24th Floor , Argentina , C1106ACY Telephone: (+ 54 - 11 - 5222-6730 ) Email: ( jorgescarinci@ macro.com.ar ) (Name, telephone, e-mail and/or facsimile member and address of company contact person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange On Which Registered American Depositary Shares Class B ordinary shares , par value Ps.1.00 per share BMA BMA New York Stock Exchange New York Stock Exchange (*) (*) Ordinary shares of Banco Macro S.A. are not listed for trading but only in connection with the registration of American Depositary Shares which are evidenced by American Depositary Receipts. Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual report. 11,235,670 Class A ordinary shares, par value Ps.1.00 per share 628,177,738 Class B ordinary shares, par value Ps.1.00 per share Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.Yes No Note – Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or an emerging growth company. See definition of "large accelerated filer, accelerated filer and emerging growth company" in Rule 12b-2 of the Exchange Act.: Large accelerated filer Accelerated filer Non-accelerated filer Emerging growth company If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012. Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial stat

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View this 20-F filing on SEC EDGAR