Business Context and Reporting Period
Macro Bank Inc. (Banco Macro) filed Form 6-K on May 11, 2015, reporting quarterly financial results for the period ended March 31, 2015. The filing includes a translation of a submission to the Buenos Aires Stock Exchange (CNV) regarding Section 63 Quotation Rules. All financial figures are expressed in thousands of Argentine Pesos (AR$).
Key Financial Metrics
- Net Income: AR$ 1,114,219 (Ordinary earnings; Special earnings were 0).
- Total Shareholders' Equity: AR$ 12,606,036.
- Capital Stock: AR$ 584,563.
- Unappropriated Earnings: AR$ 4,699,151.
- Voluntary Reserve: AR$ 4,929,430.
The filing does not provide data on revenue, operating margins, cash flow, debt levels, or liquidity ratios.
Material Changes and Corporate Actions
The company executed a capital reduction by operation of law due to the cancellation of 10,000,000 Class B treasury shares pursuant to section 67 of Act No. 26831. Registration of this capital reduction was pending before the Argentine Securities Exchange Commission at the time of filing. The filing does not provide comparative data for the prior period to assess material changes in financial performance.
Ownership Structure and Controlling Group
The controlling group, consisting of Jorge Horacio Brito, Delfín Jorge Ezequiel Carballo, and Juan Pablo Brito Devoto, holds 39.58% of the capital stock. The breakdown of share ownership is as follows:
| Shareholder Category | Class A Shares | Class B Shares | Total Capital Stock | Percentage |
|---|---|---|---|---|
| Controlling Group | 10,551,332 | 220,829,718 | 231,381,050 | 39.58% |
| Others | 684,338 | 352,497,640 | 353,181,978 | 60.42% |
| Total | 11,235,670 | 573,327,358 | 584,563,028 | 100.00% |
The controlling group does not own debt securities convertible into shares or options to purchase shares.
Investor Verification Checklist
- Verify the final registration status of the capital reduction regarding the cancellation of 10,000,000 Class B treasury shares.
- Confirm the impact of the capital reduction on the total number of outstanding shares and earnings per share.
- Review the full quarterly financial statements to obtain missing data on revenue, liquidity, and debt levels not included in this summary.
- Assess the stability of the controlling group's 39.58% ownership stake.