The following is a summary of the Banco Macro S.A. (BMA) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Banco Macro reported significant financial challenges in Q2 2024, with a net income loss of ARS233.2 billion, impacted by mark-to-market losses on government securities and decreased FX gains.

• Net interest income decreased by 53% year-on-year, affected by lower interest rates and reduced income from government and private securities.

Business Progress:

• Banco Macro is focusing on expanding its loan portfolio, with total financing reaching ARS3.47 trillion, showing a 17% increase quarter-on-quarter.

• The bank continued to manage a well-optimized deposit base, with private sector deposits increasing by 11% quarter-on-quarter.

Opportunities:

• The bank sees opportunities in increasing lending activities as economic conditions improve, expecting a recovery in GDP for 2025 which could lead to increased demand for loans.

Risks:

• The current economic environment poses challenges, reflected in significant losses in securities due to mark-to-market adjustments and reduced foreign exchange gains.

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