Macro BMA
Defunct Argentine bank
From Wikipedia, the free encyclopedia
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]
| |
 | |
| Formerly | Banco Itaú Argentina |
|---|---|
| Company type | Subsidiary |
| Industry | Finance and Insurance |
| Founded | November 4, 2023 |
| Defunct | November 19, 2024 |
| 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] |
| 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]
