Banco Macro S.A. (BMA) Stock Price & How to Invest
Last updated July 2026
Short answer
BMA is the US-listed NYSE ADR of Banco Macro, one of Argentina's largest private-sector banks, so buying it is a bet on Argentine banking and the country's disinflation and recovery story rather than a diversified financial holding.
BMA stock price
As of 2026-07-10, Banco Macro S.A. (BMA) last closed at $94.99, up 44.4% over the past year. Over the past 52 weeks it has traded between $39.27 and $104.70.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Banco Macro S.A.'s investor relations page. Walnut is informational, not investment advice.
What does Banco Macro S.A. (BMA) do?
Banco Macro (NYSE: BMA) is one of the largest privately owned banks in Argentina, with a national branch footprint and a strong presence outside Buenos Aires in the country's interior provinces. Each ADR represents ten Class B common shares. The bank offers retail and commercial banking, lending to individuals and small and medium businesses, deposits, payments, and, increasingly, digital finance (it took a 50% stake in the Personal Pay wallet to tap Telecom's customer base). It has historically run high capital ratios and holds roughly a mid-teens share of the Argentine banking system.
The investment picture is really a macro picture. Banco Macro's revenue, margins, and loan growth swing with Argentine inflation, interest rates, and the peso, all of which have been extraordinarily volatile. The 2025 and 2026 story centers on whether Argentina's disinflation and stabilization efforts hold, which would normally revive net interest margin, return on equity, and credit demand. Reported earnings have been choppy (a strong Q2 2025 offset by a weaker Q4 2025 hit by restructuring charges), and after a large share rally some observers view the ADR as richly valued versus historical norms. It is a high-beta, single-country financial rather than a stable dividend compounder.
What's driving Banco Macro S.A. (BMA)?
1. Argentina disinflation and rate normalization
The core driver is Argentina's path from very high inflation toward a more stable regime. Falling inflation and normalizing rates would let the bank grow real loan books and rebuild net interest margin. Much of the 2026 thesis rests on this stabilization actually sticking.
2. Credit growth off a low base
Private-sector credit in Argentina has been unusually depressed relative to the size of the economy. If macro conditions stabilize, banks like Macro could see loan-to-GDP expand from very low levels, giving a long runway for lending volume growth to individuals and small and medium businesses.
3. High capital and interior franchise
Banco Macro has historically carried high capital ratios and a differentiated presence in Argentina's interior provinces where competition is thinner. That capital cushion gives it room to absorb shocks and to lend into a recovery without needing to raise equity.
4. Digital and fintech push
The 50% stake in the Personal Pay digital wallet, linked to Telecom's customer base, is aimed at broadening the bank's fee income and reaching younger, digital-first customers. Execution here could diversify revenue beyond spread income tied to the rate cycle.
What are the risks to Banco Macro S.A. (BMA)?
Argentina carries some of the highest macro risk of any major economy, and BMA concentrates that risk in a single stock. The peso can devalue sharply, which erodes US-dollar-denominated ADR value even when peso earnings look fine. Inflation, capital controls, government policy shifts, and sovereign stress all feed directly into the bank's results and its accounting (which uses inflation adjustment). Earnings have been volatile quarter to quarter, and after a large rally the ADR has at times traded well above some analysts' fair-value estimates, so valuation and political risk can both bite.
How is Banco Macro S.A. (BMA) valued? (approximate, JULY 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Banco Macro S.A.'s investor relations page or your broker.
- Recent ADR price: ~$100 range in early 2026
- Q2 2025 net income: ~ARS 149.5B
- 9M 2025 net income: ~ARS 176.7B (down ~35% YoY)
- Q4 2025 net income: ~ARS 100B (down ~26% YoY)
- Return on equity: ~10% (well below its ~24% 10-year median)
- Argentine market share: ~15% of the banking sector
Argentine bank financials are reported in inflation-adjusted pesos, which makes reported figures hard to compare across periods and against US peers. ROE has compressed sharply from historical highs as rates and inflation moderated, and Q4 2025 was dented by restructuring charges. After a strong share rally, some valuation screens flagged the ADR as trading well above estimated fair value.
Who competes with Banco Macro S.A. (BMA)?
Argentine private banks
Grupo Financiero Galicia (GGAL), Grupo Supervielle (SUPV), and BBVA Argentina (BBAR) are the closest peers, all US-listed Argentine banks whose stocks trade largely on the same macro and rate cycle as Banco Macro.
State and other domestic banks
Banco de la Nacion Argentina and other public-sector and provincial banks compete for deposits and lending, especially in the interior provinces where Macro has historically been strong.
Fintechs and digital wallets
Mercado Pago (MercadoLibre) and other digital-payment players compete for payments, deposits, and younger customers, which is part of why Macro invested in the Personal Pay wallet.
How to invest in Banco Macro S.A. (BMA)
There are three common ways to get BMA exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so BMA sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where BMA fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Banco Macro S.A. (BMA)
BMA offers concentrated exposure to a well-capitalized Argentine bank whose fortunes are tied directly to Argentina's macro, currency, and rate path, which cuts both ways.
More on Banco Macro S.A. (BMA)
Whether BMA is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is BMA a buy?, and where the stock could go from here in the BMA stock forecast.
For income investors, whether BMA pays a dividend and how the payout looks is covered in does BMA pay a dividend?
Build a basket around BMA with Walnut
Use Banco Macro S.A. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is BMA stock?
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BMA is the New York Stock Exchange ADR of Banco Macro S.A., a large private-sector Argentine bank. Each ADR represents ten Class B common shares, so it gives US investors a way to hold an Argentine bank in dollars.
What does Banco Macro do?
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It is a full-service bank offering retail and commercial banking, loans to individuals and small and medium businesses, deposits, and payments. It has a national footprint with particular strength in Argentina's interior provinces.
Is BMA a US company?
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No. Banco Macro is an Argentine company. BMA is simply its ADR listed in the US, so the underlying business, currency, and regulation are all Argentine even though the shares trade in New York in dollars.
Why is BMA so volatile?
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Its results and share price track Argentina's inflation, interest rates, and the peso, all of which have been extremely volatile. Macro news and currency swings can move the ADR sharply regardless of the bank's own operations.
How did Banco Macro perform in 2025?
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Results were choppy. Q2 2025 net income jumped versus the prior quarter, but nine-month 2025 net income was down roughly 35% year over year, and Q4 2025 fell about 26% partly due to restructuring charges.
Does BMA pay a dividend?
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Banco Macro has paid dividends historically, but payouts from Argentine companies can be affected by local capital controls, inflation adjustment, and currency conversion. Investors should check the most recent declared dividend and any regulatory constraints before assuming a yield.
What are the main risks of owning BMA?
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The biggest risks are Argentine macro and currency risk. A peso devaluation can erode dollar ADR value, and inflation, capital controls, policy changes, and sovereign stress all feed directly into the bank's earnings and valuation.
How does BMA compare to Grupo Galicia and BBVA Argentina?
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They are the closest peers, all US-listed Argentine banks that move largely on the same macro cycle. Differences come from franchise mix, capital levels, and digital strategy, but country risk dominates all of them.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Banco Macro S.A.'s investor relations page or your broker before making investment decisions.