Banco Macro S.A. reported fourth‑quarter 2025 results on February 25 2026, posting earnings per share of $1.08, which fell short of the broad consensus estimate of $1.38. The miss reflects higher‑than‑anticipated loan‑loss provisions and a decline in interest income from the bank’s securities portfolio, underscoring the ongoing pressure on margins in Argentina’s high‑inflation environment.
The company’s reported revenue was $628.814 million, a shortfall relative to the $773.070 million forecasted by analysts. While the consensus estimate for revenue varied across sources, the reported figure indicates a revenue miss that highlights the impact of macro‑economic headwinds on the bank’s top line.
Loan‑loss provisions for the quarter increased sharply, with a 424% year‑over‑year rise to 128.4 billion pesos, reflecting deteriorating asset quality and a higher non‑performing loan ratio of 3.02%. This significant provisioning hit earnings and contributed to the EPS miss.
Interest income from government and private securities fell 24% to 292.8 billion pesos compared with the same period a year earlier, further compressing the bank’s net interest margin. The decline in securities income is consistent with the broader trend of lower yields in Argentina’s fixed‑income market.
Argentina’s persistent high inflation continues to erode the bank’s profitability by widening funding costs and compressing interest‑rate spreads. The combination of elevated loan‑loss provisions and reduced securities income illustrates the margin pressure that Banco Macro faces in the current economic climate.
In comparison to the prior year, Banco Macro’s Q4 2024 net income was 102.2 billion pesos, and the full‑year 2024 net income was 325.1 billion pesos. The Q4 2025 results show a recovery in net income from the previous quarter, but a year‑over‑year decline, indicating that the bank is navigating a challenging environment while maintaining a solid capital position.
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