NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

(1)

Related to the capital increase of up to 75,000,000 new common, registered Class “B” shares with a face value of Ps. 1, each one entitled to one vote, and entitled to dividends under the same conditions as common, registered, Class “B” shares outstanding upon issuance, to be publicly subscribed in Argentina or abroad. On March 24, 2006, with prior approval of the US Security and Exchange Commission (SEC), the Bank’s stock began to be listed on the New York Stock Exchange. During the year ended December 31, 2006, such capital increase was fully subscribed and paid in. As required by CNV General Resolution No. 368/01, the Bank informs that has applied all funds resulting from the public subscription of shares to finance its general business operations, increasing its lending capacity and obtain funds for potential acquisitions.

(2)

Related to the capital increase through the issuance of Ps. 35,536 new book-entry Class B shares of common stock entitled to one vote and with a face value of Ps. 1 per share, delivered to the minority shareholders of Nuevo Banco Suquía S.A. in the legal merger process of that bank.

(3)

Related to the reduction of the capital stock by 60,000,000 registered Class B shares entitled to 1 vote each with a face value of Ps. 1 per share. These shares were included in the Bank’s portfolio and were acquired under section 68, Law No. 17,811, as a result of the macroeconomic context and fluctuations that the capital market went through in general. On April 21, 2009, and after BCBA authorization, the Bank’s General Regular and Special Shareholders’ meeting approved the abovementioned capital reduction. During July 2009, the CNV authorized, the I.G.J. registered, and the BCRA consented to the capital stock reduction.

(4)

Related to the capital increase through the issuance of Ps. 1,147,887 of new common, registered Class B shares with a face value of Ps. 1, each one entitled to one vote, delivered to the minority shareholders of former Nuevo Banco Bisel S.A., in the legal merger process of that bank (see also note 2.6.).

(5)

Related to the reduction of the capital stock by 30,641,692 Class B registered shares each one entitled to one vote, with a face value of Ps 1 per share. These shares were included in the Bank’s portfolio and were acquired under section 68, Law No. 17,811 for the same reasons mentioned in paragraph (3) above. On September 10, 2009, the Bank’s General Regular and Special Shareholders’ meeting approved the abovementioned capital reduction subject to the BCBA’s consent. On November 23, December 29, 2009, January 15 and March 25, 2010, the BCBA consented to such capital reduction, the CNV authorized it, the IGJ recorded it and the BCRA was made aware thereof, respectively.

10.	CORPORATE BONDS ISSUANCE

The corporate bond liabilities recorded in the accompanying financial statements amount to:

Corporate Bonds	Original value			Residual value as of 09/30/2010		09/30/2010		12/31/2009

Subordinated	U$S	4,000,000	a)						963

Subordinated – Class 1	U$S	150,000,000	b.1)	U$S	150,000,000		610,517		571,510

Non Subordinated – Class 2	U$S	150,000,000	b.2)	U$S	106,395,000		427,269		418,257

Non Subordinated – Class 3	U$S	100,000,000	b.3)	U$S	63,995,000		203,716		198,478

Total							1,241,502		1,189,208

- 28 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

On January 20, 1997, the general special shareholders’ meeting of former Banco de Salta S.A. (which was absorbed by the Bank) approved issuing Subordinated Corporate Bonds in the amount of USD 4,000,000 to exercise the power granted to it by the second clause of the Loan Agreement entered into with Banco Provincial de Salta (en liquidación) on June 28, 1996. In addition, the general special shareholders’ meeting of former Banco de Salta S.A. held on May 29, 1997, approved the IPO of such Corporate Bonds. Through Resolution No. 1,006, dated December 19, 1997, the CNV authorized the IPO of former Banco de Salta S.A. for the issuance of Corporate Bonds, and it also approved the public offering of such bonds.

The installments of the corporate bonds were paid by the Bank in the original currency until February 3, 2002, the day on which the amounts payable were switched into pesos at Ps. 1-to-USD 1, adjusted by CER.

On August 2, 2010, the Bank settled the last installment in the amount of USD 200,000 (original value).

On September 1, 2006 and June 4, 2007, the general regular shareholders’ meeting approved the creation, and subsequent extension, of a Global Program for the Issuance of simple Corporate Bonds in a short, medium or long term, either subordinated or non-subordinated, with or without guarantee, in accordance with the provisions of Law No. 23,576, as amended by Law No. 23,962, and further applicable regulations, up to a maximum amount outstanding at any time during the term of the program of USD 700,000,000 (seven hundred million US dollars), or an equal amount in other currencies, under which it will be possible to issue different classes and/or series of corporate bonds denominated in US dollars or other currencies and reissue the successive classes or series to be amortized.

b.1)

On December 18, 2006, under the abovementioned Global Program, Banco Macro S.A. issued the 1st series of Class 1 subordinated notes for a face value of USD 150,000,000 (US dollars one hundred and fifty million). The main characteristics of this issuance are:

Computable to the Bank’s required minimum capital (computable equity), as established by Communiqué “A” 4,576.

The notes fall due within a 30-year term, with full amortization upon maturity (December 18, 2036), with a full redemption option in 10 years as from the issuance date.

Interest payments will be made with a semiannual frequency (June 18 and December 18, every year).

During the first 10 years, the interest rate will be a fixed one (9.75%), and a variable one for the remaining years (six-month LIBOR, plus 7.11%). As established by Communiqué “A” 4,576 the interest rate payable can be increased only once over the life of the instrument and subsequent to the 10-year term as from their issuance.

They do not include covenants that change the subordination order.

No interest on the notes will be neither fall due and payable if: (i) payments of such interest exceed the distributable amount, as defined in the pricing supplement dated November 23, 2006; (ii) there is a general prohibition by the BCRA; (iii) the Bank is subject to the provisions of sections 34 or 35 bis, Financial Institutions Law; (iv) the Bank is receiving financial assistance from BCRA under Article 17 of BCRA Charter; (v) the Bank is not in compliance with or have failed to comply in a timely basis with reporting obligations to the BCRA; and/or (vi) the Bank is not in compliance with minimum capital requirements (both on an individual and consolidated basis) or with minimum cash reserves (on average).

The unpaid interest is not cumulative.

They have authorizations both for their public offering and their listing on domestic or foreign stock exchanges or markets.

In no case, the payment of financial services may exceed net unappropriated retained earnings as per the financial statements for the last fiscal year, with an external auditor’s report, which should be appropriated to a reserve created to such end, as established by Communiqué “A” 4,576.

The Bank used the funds derived from such issuance to grant loans.

- 29 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

b.2)

On January 29, 2007, the 1st series of Class 2 nonsubordinated corporate bonds at a fixed rate of 8.5% p.a., simple, not convertible into shares, fully amortizable upon maturity (February 1, 2017), for a face value of USD 150,000,000 (one hundred and fifty million US dollars), under the terms and conditions set forth in the price supplement dated January 10, 2007. Interest will be paid semiannually on February 1 and August 1 of every year.

Additionally, the Bank has the option to redeem such issuance, either fully or partially, at any time and periodically. The Bank used the funds derived from such issuance to grant loans.

b.3)

On June 7, 2007, the 1st series of Class 3 nonsubordinated corporate bonds (peso-linked notes) at a fixed rate over principal in pesos of 10.75% p.a., simple, not convertible into shares, fully amortizable upon maturity (June 7, 2012), for a face value of USD 100,000,000 (one hundred million US dollars), under the terms and conditions set forth in the price supplement dated May 18, 2007. Interest will be paid semiannually on June 7 and December 7 of every year.

Additionally, the Bank may fully redeem the issuance for tax purposes. The Bank used the funds derived from such issuance to grant loans.

On August 16, 2007, the SEC authorized the abovementioned exchange offers mentioned in b.1) through b.3).

As a result of the macroeconomic context and fluctuations that the capital market went through in general, as of December 31, 2009, the Bank repurchased nonsubordinated corporate bonds of Class 2 and 3 for a face value amount of USD 79,610,000 (43,605,000 and 36,005,000 of Class 2 and 3, respectively), which were fully settled. Consequently, the Bank recognized total income for such repurchases amounting to 101,291 (69,071 for the year ended December 31, 2009 and the remaining amount is related to prior years).

11.	DERIVATIVE FINANCIAL INSTRUMENTS

The Bank performs transactions that involve derivative financial instruments, as established by BCRA rules and professional accounting standards effective in Argentina. Such instruments mainly relate to:

Repurchase agreements of securities and foreign currency.

Forward transactions without delivery of the underlying asset.

Call and put options.

Interest rate swaps.

Such transactions were valued as explained in notes 3.3.h.1), 3.3.h.2) and 3.3.m).

- 30 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

Positions of transactions effective as of September 30, 2010 and December 31, 2009, are as follows:

Transaction	09/30/2010			12/31/2009

Net liability position of repurchase agreements		(1,855,339	)		(454,961	)

Net (liability) /asset position of forward transactions without delivery of the underlying asset (a)		(109	)		174,818

Interest rate swaps (b)		157,362			157,917

Position of put options sold on Boden 2012 and 2013 coupons (c)		53,309			69,900

Position of put options taken (d)		28,013			25,229

Position of call options sold (e)					22,030

Net income (loss) resulting from these transactions for the period ended September 30, 2010 and 2009, amount to income (loss):

Transaction	09/30/2010			09/30/2009

Premiums on reverse repurchase agreements		16,380			59,104

Premiums on repurchase agreements		(6,131	)		(2,448	)

Interest rate swaps		(2,764	)		2,404

Forward foreign-currency transactions offset		8,076			24,709

Transactions with options		1,200			1,467

Total		16,761			85,236

(a)

It is related mainly to negotiation transactions of forward foreign currency exchange rates, carried out through Rofex and MAE The differences of such trading transactions are settled on a daily basis based on the prices agreed upon and their quoted price upon maturity; the underlying asset is not delivered or received.

Additionally, as of September 30, 2010, the Bank had forward Badlar rate trading transactions, (offsetting sales and purchases) which are agreed through MAE. The differences of such trading transactions are settled on a daily basis based on the prices agreed upon and their listed price upon maturity; the underlying asset is not delivered or received.

- 31 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

(b)

Related to the following interest rate swap transactions:

b.1)

The Bank and the BCRA agreed swap agreements entitling the Bank to collect, an a monthly basis, the positive difference between the Badlar interest rate in Argentine pesos and interest rates ranging from 15%, to 16.50% nominal interest rate p.a., applied on a total of notional values of Ps 115,000,000. In the event that the difference between the rates is negative, the Bank shall be required to pay the difference. The agreement will expire between April 30, 2012 and October 31, 2014. The objective of the transactions is placement on medium- and long-term loans set forth in BCRA Communiqué “A” 4,776, as supplemented.

b.2)

Relates to interest rate swap agreements whereby on a quarterly basis the Bank shall be entitled to receive the positive difference between 10.25% nominal interest rate p.a. and the variable rate agreed-upon in relation to a loan granted by the Bank (Libor at 90 days plus 2.9%), applied to the residual principal of such loan. In the event that the differences between both rates were negative, the Bank shall be required to pay the difference. This agreement expires September 27, 2018. The amount booked in the Bank’s memorandum accounts is related to the residual principal amount of the loan of notional values of Ps. 42,362,000 and 41,917,000, respectively.

b.3)

As of December 31, 2009, the Bank agreed on swap agreements entitling the Bank to receive, on a monthly basis, the positive difference between 16.35% nominal interest rate p.a. and the Badlar interest rate in Argentine pesos, of notional values of Ps. 1,000,000. In the event that the difference between both rates is negative, the Bank shall be required to pay the difference. The agreement expired on April 30, 2010.

(c)

Relates to put options on coupons of the Argentine Government bonds provided in Presidential Decrees Nos. 905/02 and 1,836/02, as supplemented, which were received by the holders of rescheduled deposits through the exchanges implemented by the Argentine Government.

(d)

As of September 30, 2010, this is related to a put option purchased of trust securities to be issued by financial trust Fideicomiso Financiero Best Consumer Finance Series XII and which eventually could be received by the Bank as payment of the assignment value established in the assignment of rights agreement signed on June 30, 2010 with Banco de Servicios y Transacciones S.A. The initial price was established in 25,000, which will accrue a minimum applicable rate of 17,5%, compounded on a monthly basis. The option may be exercised within 180 days as from issuance, delivery and registration of the transacted securities under Banco Macro S.A.’s name. As of December 31, 2009, this is related to a put option purchased of trust securities to be issued by financial trust Fideicomiso Financiero Best Consumer Finance Series X. On February 4, 2010, the transaction with Credilogros Compañía Financiera S.A. was cancelled and the put option taken was thus annulled.

(e)

Related to a call option sold on a piece of real property belonging to the Bank, entitling the Bank to receive a minimum income of USD 300,000 or the resulting amount from applying a 15% nominal interest rate p.a. on a principal amount of USD 5,100,000 plus notarial expenses, maintenance expenses and service expenses, whichever higher. This option expired in September 2010, and it was not exercised.

12.	PORTFOLIO MANAGEMENT

On March 1, 1996, former Banco de Salta S.A. (which was absorbed by the Bank) and the Government of the Province of Salta entered into an “Agreement to Manage the Loan Portfolio of Banco Provincial de Salta (in liquidation)” related to the nonfinancial private sector, whereby the Bank undertakes to perform all acts necessary to manage such portfolio. In consideration thereof, the Province of Salta recognizes to the Bank a percentage of the amounts effectively recovered.

As of September 30, 2010 and December 31, 2009, the loans portfolio managed for principal and interest, after application adjustments, amounted to 14,336 and 14,359, respectively.

By virtue of the agreement formalized on August 11, 1998, between former Banco de Jujuy S.A. (which was absorbed by the Bank) and the Government of the Province of Jujuy, the Bank undertakes to perform all acts necessary to manage the loan portfolio of the former Banco de la Provincia de Jujuy and to provide a monthly report on the tasks performed. In consideration thereof, the Province of Jujuy recognizes to the Bank, for all accounts and as a lump-sum and total consideration, a percentage of the amounts actually recovered.

- 32 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

As of September 30, 2010 and December 31, 2009, the loans portfolio managed amounts to 42,619 and 43,238, respectively.

On April 6, 2001, through Provincial Decree No. 806, the Ministry of the Treasury of the Province of Salta approved an extension to the “Contract for the service of collecting, processing and arranging information, managing the loan portfolio and performing collection procedures related to the receivables of the IPDUV (Provincial Institute of Urban and Housing Development)" entered into on March 27, 2001, between such agency and the former Banco Macro S.A. Through that extension, the Bank will provide to the IPDUV, among others, the service of collecting the installments payable by successful bidders for housing and a service of performing collection procedures related to such institute’s receivables. In consideration thereof, the IPDUV recognizes to the Bank a percentage of the amounts effectively recovered.

As of September 30, 2010 and December 31, 2009, the loans portfolio managed amounts to 78,019 and 78,911, respectively.

On August 19, 2002, ABN AMRO Bank N.V. Sucursal Argentina, as trustee, the former Scotiabank Quilmes S.A., as trustor, Banco Comafi S.A., as collecting agent and manager and the former Banco Bansud S.A. (currently Banco Macro S.A.), entered into an agreement for the LAVERC financial trust’s collection administration and management, whereby former Banco Bansud S.A. will be in charge of the collection management, custody, performance and any other task related to the corpus assets recorded in the branches of former Scotiabank Quilmes S.A. received.

Through Resolution No. 523 of August 20, 2002, BCRA Board of Directors –under Section No. 35 bis II b), Financial Institutions Law– provided for excluding certain secured liabilities and the equivalent amount of certain assets from Scotiabank Quilmes S.A. (SBQ), and it authorized the transfer of 35% of total excluded assets (including certificates of participation in the LAVERC trust) and liabilities in favor of the former Banco Bansud S.A. In addition, the abovementioned Resolution authorized the former Banco Bansud S.A. to incorporate 36 branches that belonged to SBQ at the time of the transfer.

As of September 30, 2010 and December 31, 2009, the portfolio managed by the Bank amounted to 110,031 and 114,328, respectively.

On June 30, 2006, the Bank and Sud Inversiones y Análisis S.A. entered into a management and custody agreement regarding the “RETUC 1” trust loan portfolio.

As of September 30, 2010 and December 31, 2009, the portfolio managed by the Bank for principal and accrued interest amounted to 58,465 and 58,863, respectively.

As of September 30, 2010 and December 31, 2009, the Bank had under its management other portfolios for total amounts of 58,645 and 65,330, respectively.

Furthermore, as of September 30, 2010 and December 31, 2009, subsidiary Banco del Tucumán S.A. managed the following portfolios:

The trust agreement Fideicomiso Financiero Gas Tucumán I for a total amount of 10,188 and 10,111, respectively.

The trust agreement Fideicomiso Financiero BATUC I for a total of 17,501 and 17,903, respectively.

- 33 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

13.	MUTUAL FUNDS

As of September 30, 2010 the Bank, in its capacity as Depository Company, held in custody the interest in Mutual Funds subscribed by third parties and securities from the following mutual funds:

Fund	Interest in Mutual Funds		Shareholders’ equity		Assets (a)

Pionero Pesos		368,823,638		519,366		371,464

Pionero Renta Ahorro		37,509,381		60,079		59,156

Pionero Latam		1,925,785		8,556		7,850

Pionero F.F. – Fideicomiso Financieros		24,317,620		34,282		34,048

Pionero Renta		32,380,930		104,889		103,371

Pionero Acciones		1,416,026		3,691		3,475

Pionero Renta Dólares		6,325,766		12,054		10,875

Pionero América		371,721		1,709		1,642

Galileo Event Driven F.C.I.		13,334,384		98,838		92,674

Galileo Argentina F.C.I.		3,217,889		17,962		16,020

(a)

These amounts reflect the mutual funds’ assets and are recorded under the “Checks and securities in custody” memorandum account.

14.	BANK DEPOSIT GUARANTEE INSURANCE SYSTEM

Law No. 24,485, and Presidential Decree No. 540/95, provided for the organization of a Bank Deposit Guarantee Insurance System, characterized as being limited, mandatory and for valuable consideration, designed to provide coverage for risks inherent in bank deposits, subsidiary and supplementary to the bank deposit privileges and protection offered by the system created by Financial Institutions Law. Such law also provided for the organization of SEDESA to manage the Deposit Guarantee Fund. Such company was organized in August 1995. The Bank holds a 10.5653% equity interest therein, according to the percentages set forth in BCRA Communiqué “B” 9,756 of February 9, 2010.

This system shall cover the deposits in Argentine pesos and foreign currency with the participating institutions as checking accounts, savings accounts, certificates of deposit or any other modes determined by BCRA, as long as fulfilling the requirements under Presidential Decree No. 540/95 and any others established by the enforcement agency. On the other hand, BCRA established that the deposits made by other financial institutions, those made by persons related to the Bank, deposits of securities, among others, would be excluded from the deposit guarantee system.

- 34 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

15.	TRUST ACTIVITIES

The Bank is related to different types of trusts. Below the different trust agreements are disclosed, according to the Bank’s business purpose:

15.1.

Financial trusts for investment purposes

As of September 30, 2010 and December 31, 2009, the amounts recorded in the Bank’s financial statements for holdings of certificates of certification (net of allowances for 223,832 and 224,193, respectively) and debt securities in financial trusts under “Other receivables from financial intermediation - Other not covered by debtor classification standards” were as follows:

Financial Trust	09/30/2010		12/31/2009

Certificates of participation:

Luján (a)		77,348		77,348

TST & AF (b)		37,689		3,116

Tucumán (c)		63		25,163

Other (d)		8,473		10,591

Subtotal certificates of participation		123,573		116,218

Debt securities:

Underwriting agreements (e)		81,623		70,645

San Isidro (f)		93,021		82,925

Created by Decree 976-01 (g)		51,345		31,570

Galtrust (h)		35,193

Chubut oil & gas royalties (i)		24,028

Other		6,491		21,647
Subtotal debt securities		291,701		206,787
Total		415,274		323,005

(a)

Luján Trust

On May 20, 2003, the Luján Trust was created for the purpose of securing loans that Banco Macro S.A. had previously granted to Federalia S.A. de Finanzas.

The main asset managed involves the real estate properties located in the districts of Luján, Navarro and General Rodríguez in the Province of Buenos Aires.

On June 6, 2008, the Bank assigned and transferred all of the certificates of participation issued of the trust to Federalia S.A. de Finanzas on credit.

On September 16, 2009, the Bank executed an agreement with Federalia S.A. de Finanzas, whereby the Bank purchased 100% of the trust’s certificates, paying part of the agreed price in cash and the rest by cancelling the seller’s payable to Banco Macro S.A. which is why those certificates were under a security agreement.

As per the latest accounting information available to date, corpus assets amounted to about 49,432. The recoverable value of corpus assets exceeds the Bank’s book values.

This trust will end with the settlement of the certificates of participation and/or the sale of corpus assets.

- 35 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

(b)

TST & AF Trust

As of September 30, 2010, the Bank is the direct beneficiary of 36.67% of the certificates of participation issued by Fideicomiso TST & AF. As of December 31, 2009, the Bank was the beneficiary of 3.33% of such certificates (see also note 5.1(a) to the consolidated financial statements).

(c)

Tucumán Trust

On August 31, 2005, Federalia Sociedad Anónima de Finanzas, Maxifarm S.A. and Gabrinel S.A., in their capacity as trustors, entered into a trust agreement that created the financial trust “Fideicomiso Financiero Tucumán”. The purpose of the trust was to collect debt securities issued by the trust “Fideicomiso República” and settle the certificates of participation issued.

On June 6, 2008, partial settlements were made and part of the certificates were sold among the trust participants. Consequently, since that date, Banco Macro S.A. owns 100% of the trust certificates.

As per the latest accounting information available to date, corpus assets amounted to about 8,748.

This trust will end with the full settlement of the certificates of participation.

(d)

Other

Including Bisel Trust, which was created within the framework of the reorganization process of former Banco Bisel S.A., as established by section 35 bis, Law No. 21,526, on May 21, 2002, with assets transferred by former Banco Bisel S.A., and with Banco de la Nación Argentina being appointed as trustee (replaced by Sud Inversiones y Análisis S.A. as from May 20, 2008). The purpose of the trust is to realize the managed assets and settle the certificates of participation issued.

As of September 30, 2010 and December 31, 2009, Banco Macro S.A., is beneficiary of 100% of the certificates issued by such trust. Additionally, an allowance was booked for the full amounts receivable booked on account of such certificates, since they were deemed unrecoverable.

(e)

It relates to prepayments towards the placement price of trust securities of the financial trusts under public offerings, made by the Bank through underwriting agreements, such as Consubond and Tarjeta Shopping, and Albanesi Gas among others. The assets managed for these trusts are mainly related to securitizations of consumer loans and firm gas transportation rights. Trust securities are placed once public offering is authorized by the CNV. Upon expiry of the placement period, once all trust securities have been placed on the market, the Bank recovers the disbursements made plus an agreed-upon contribution (“underwriting Price”). If after making the best efforts, such trust securities cannot be placed, the Bank (“Underwriter”) will retain the securities subject to underwriting.

(f)

San Isidro Trust

On June 4, 2001, San Isidro Trust was created for the purpose of securing loans that Banco Macro S.A. had previously granted to the trustor.

Thus, the trust was required to sell the corpus assets in the same condition they were when received and use their proceeds to settle the certificates of participation in order of priority assigned to each. Subsequently, a real estate urbanization project was undertaken prior to the sale of the real property.

On November 7, 2008, the Bank proceeded to sell on credit all of the certificates of participation issued by the trust to an unrelated company, offering a security thereon.

Additionally, the Bank entered into an agreement for the subscription and payment of debt securities, whereby as of the date of these financial statements it undertook to subscribe nominal values of USD 20,300,000.

According to the accounting information available as of the date of issuance of these financial statements, the corpus assets amounted to about 176,384.

- 36 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

(g)

Created by Decree 976-01 Trust

On September 13, 2001, the Argentine Government (trustor) and Banco de la Nación Argentina (trustee) entered into a trust agreement that created the financial trust “Fideicomiso Creado por Decreto 976-01”.

The purpose thereof is the development of projects, works, services and maintenance on road and railway infrastructure in rural and semirural areas, among others. The trust revenues (corpus assets) arise, mainly, from collecting tax on gas oil, equivalent to 22% of the price per liter. Such tax was created by Law No. 26,028 and its effective term was subsequently extended until 2024 by Law 26,422.

As of the date of issuance of these financial statements, the debt securities acquired by the Bank account for less than 2% of the trust issues.

(h)

Galtrust Financial Trust

On October 13, 2000, Banco de Galicia y Buenos Aires S.A. (trustor) and First Trust of New York N.A., permanent representation in Argentina (financial trustee), organized Galtrust I financial trust.The purpose of the trust is to collect the corpus assets (BOGAR 2018) and settle the debt securities and certificates of participation issued.

BOGAR 2018 arise from the exchange of loans in US dollars granted by the trustor to several provincial governments in Argentina, secured with Federal Tax Revenue Sharing System, under Presidential Decree No. 1,579 issued on August 27, 2002.

As of the date of issuance of these financial statements, the Bank is the beneficiary of the 26% of the debt securities in force.

(i)

Fideicomiso Chubut oil & gas royalties

On July 6, 2010, the Province of Chubut (trustor) and Banco de Valores S.A. (trustee) entered into a trust agreement that created the financial trust “Fideicomiso Chubut regalías hidrocarburíferas” (Fideicomiso Chubut oil & gas royalties).

The purpose of such trust is to finance production projects, infrastructure works in the province of Chubut and financial investments aimed at increasing the state’s interest in the energy sector. Trust revenues (corpus assets) arise mainly from credits resulting from the assignment, by the Province in favor of the trustee, of the rights on such oil & gas royalties collected by the appointed concessionaire (Pan American Energy LLC., Argentine Branch).

As of the date of issuance of these financial statements, the debt securities acquired by the Bank account for 4% of the trust issues.

15.2.

Trusts created using financial assets transferred by the Bank

The Bank transferred financial assets (loans) to trusts for the purpose of issuing and selling securities the collection of which is guaranteed by the cash flow resulting from such assets or group of assets. This way, the funds originally used to finance loans are recovered early, increasing the Bank's lending capacity.

According to the latest accounting information available as of the date of issuance of these financial statements, the trust assets managed totaled 6,864.

15.3.

Trusts guaranteeing loans granted by the Bank

As it is common in the Argentine banking market, the Bank requires, in some cases, that the debtors present certain assets or entitlements to receiving assets in a trust as a guarantee for the loans granted. This way, the risk of losses is minimized and access to the security is guaranteed in case of the debtor´s noncompliance.

Trusts usually act as conduits to collect cash from the debtor’s flow of operations and send it to the bank for the payment of the debtor’s loans and thus ensure compliance with the obligations assumed by the trustor and guaranteed through the trust.

- 37 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

Additionally, other guarantee trusts manage specific assets, mainly real property.

Provided there is no noncompliance or delays by debtor in the obligations assumed with the beneficiary, the Trustee shall not execute the guaranty and all excess amounts as to the value of the obligations are reimbursed by the Trustee to the debtor.

As of September 30, 2010 and December 31, 2009, the trusts’ assets managed amount to 230,247 and 383,533, respectively.

15.4.

Trusts in which the Bank acts as trustee (administration)

The Bank performs management duties in relation to the corpus assets according to the agreements and only performs trustee duties and has no other interests in the trust.

In no case shall the Trustee be liable with its own assets or for any obligation deriving from the performance as trustee. Such obligations do not imply any type of indebtedness or commitment for the trustee and they will be fulfilled only through trust assets. In addition, the trustee will not encumber the corpus assets or dispose of them beyond the limits established in the related trust agreements. The fees earned by the Bank from its role as trustee are calculated according to the terms and conditions of the agreements.

Trusts usually manage funds derived from the activities performed by trustors for the following main purposes:

(a)

Guaranteeing in favor of the beneficiary the existence of the resources required to finance and/or pay certain obligations, such as the payment of installments regarding work or service certificates, and the payment of invoices and fees stipulated in the related agreements.

(b)

Promoting the production development of the private economic sector at a provincial level.

(c)

Being a party to public work concession agreements granting road exploitation, management, keeping and maintenance.

Additionally, other trusts manage specific assets, mainly real property.

As of September 30, 2010 and December 31, 2009, the trusts’ assets managed amount to 245,753 and 190,506, respectively.

16.	COMPLIANCE WITH REQUIREMENTS TO ACT AS OVER-THE-COUNTER SECURITIES MARKET BROKER

Under CNV Resolution 368/01, the Bank’s shareholder’s equity exceeds the minimum amount required.

17.	ACCOUNTS IDENTIFYING COMPLIANCE OF THE MINIMUM CASH REQUIREMENT

The items computed by the Bank to constitute the minimum cash requirement for September 2010 are listed below, indicating the balances as of month-end of the related accounts:

Item	Balance as of 09/30/2010

Cash

Cash on hand		1,122,535

Amounts in BCRA accounts		2,316,189

Other receivables from financial intermediation

Special guarantee accounts with the BCRA		252,078

Total		3,690,802

- 38 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

18.	TAX CLAIMS

AFIP (Federal Public Revenue Agency) has reviewed the tax returns filed by the Bank related to income tax and minimum presumed income tax for prior years.

Additionally, provincial tax authorities have reviewed other taxes (mainly turnover tax) for prior fiscal years.

The most significant claims arising from the previous paragraphs are detailed below:

AFIP challenged the income tax returns filed by the former Banco Bansud S.A. (for the fiscal years since June 30, 1995, through June 30, 1999, and of the irregular six-month period ended December 31, 1999) and by the former Banco Macro S.A. (for the fiscal years ended since December 31, 1998, through December 31, 2000).

The issues under discussion and on which the regulatory agency bases its position are the impossibility to deduct the credits with collateral security and the requirement to begin judicial collection proceedings for outstanding receivables to be deducted for tax purposes. Both issues were analyzed by the Federal Administrative Tax Court in similar cases, which issued a resolution in favor of the position assumed by the Bank.

On June 29, 2009, and August 26, 2009, the Bank partly joined the system under Law No. 26,476 Title I regularizing the credits in question that lack collateral security.

AFIP challenged the income tax returns filed by Banco Macro S.A. for the fiscal years ended from December 31, 2002, through December 31, 2004, and the minimum presumed income tax settlement of the Bank for such tax years.

The matter under discussion and on which the tax agency bases its position is the tax value of the amount pending receipt at that time of the compensation bonds resulting from the asymmetric conversion into pesos (Law No. 25,561, Presidential Decree No. 214/02 and 216/02).

On August 31, 2009, the Bank joined the system created by Law No. 26,476, regularizing the claim brought by tax authorities.

The Buenos Aires City Tax Authorities (DGR CABA) attributed turnover tax differences to Banco Macro S.A. for tax period 2002, in relation to the treatment of foreign exchange differences and the compensation bond.

On December 29, 2008, the Bank filed a complaint challenging this and a precautionary measure with the Federal Administrative Tax Court in and for the City of Buenos Aires. On February 27, 2009, the precautionary measure was rejected and, therefore, an appeal was filed with Court of Appeals in and for the City of Buenos Aires.

In September 2010, the Bank joined the program under Law No. 3,461, of the DGR CABA regularizing the claim brought by tax authorities.

The DGR CABA attributed turnover tax differences to former Banco Bansud S.A. for tax periods 2002 and 2003, based mainly on the adjustments made in objections regarding foreign exchange differences and the compensation bond.

In September 2010, the Bank joined the program under Law No. 3,461, of the DGR CABA regularizing the claim brought by tax authorities.

In October 2009, the Bank partially joined the regularization system created by DGR CABA General Resolution No. 1489/09.

The Buenos Aires Province Tax Authorities (DGR ARBA) attributed a turnover tax difference to Banco Macro S.A. in relation to period 2002 and 2006. On May 5, and October 14, 2008, the Bank filed its defense brief which was dismissed. Subsequently, two appeals were filed with the Province of Buenos Aires Tax Appeal Court, which are still pending judgment.

In August 2010, the Bank partially joined the program under Law 12,914, Regulatory Resolution No. 35/2010.

Additionally, there are other appeals which are not relevant with Tax Court.

- 39 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

The Bank’s Management believes there are no additional significant effects to those already recognized in the books that may result from the final outcome of such claims.

19.	CHANGES IN THE ARGENTINE MACROECONOMIC ENVIRONMENT, AND THE SITUATIONS OF THE FINANCIAL SYSTEM AND THE BANK

The financial and capital markets

During the year 2008 the financial markets of the world's leading countries were rocked by volatility, lack of liquidity and credit. Consequently, a worldwide economic deceleration was evidenced by stock indexes on international markets. Instead, in early 2009, although signs of a tendency towards normalcy or initiation of a globaleconomic recovery are not consolidated, this situation began turning around, showing signs of stabilization and registering improvements in financial markets and a decrease in market volatility. However, they have not fully recovered and there are still high volatility levels.

In Argentina, stock markets had shown decreases in the prices of government and private securities, as well as increases in interest rates, the country risk and in foreign exchange rates, and the effects of the mentioned economic deceleration began to show. Furthermore, on October, 2008, the AFJP (private pension fund managers) system was brought to an end. Starting from the second half of 2009, the abovementioned situation began a reversal process as the country risk premium has dropped, government securities registered significant rises in their listed prices and the foreign exchange and interest rates reduced their volatility. Subsequently, during the second quarter of 2010, the Argentine Government restructured of the government debt that had not been restructured upon the 2005 exchange.

The Bank’s Management permanently monitors the change of the abovementioned situations, to determine the possible actions to adopt and to identify the possible impacts on its financial situation that may need to be reflected in the financial statements for future periods.

The accompanying financial statements should be read considering the circumstances previously mentioned.

Legal actions

The Argentine economic and financial situation worsened in late 2001, when the Argentine government suspended payments on the sovereign debt and imposed severe restrictions on cash withdrawals from financial institutions.

The measures adopted by the Federal Executive Government with respect to the public emergency in political, economic, financial and foreign exchange matters triggered a number of legal actions (known as recursos de amparo – constitutional rights protection actions), brought by individuals and companies against the Federal Government, the BCRA and the financial institutions for considering that Public Emergency Law and its supplementary regulations are unconstitutional.

In the specific case of deposits denominated in foreign currency, in some cases, the courts ordered the reimbursement of such deposits, either in foreign currency or at free foreign exchange rate at the time of reimbursement until a final judgment is issued with respect to the constitutionality of the conversion into pesos.

Some of these claims were treated by the Argentine Supreme Court, which issued resolutions on lower-court decisions for each particular case and in different manners.

On December 27, 2006, the Argentine Supreme Court revoked prior instance judgments that ordered the reimbursement of deposits in US dollars and decided that depositors are entitled to reimbursement of their deposits switched to pesos at the Ps. 1.40-to-USD 1 exchange rate, adjusted by the CER through the payment date, and interest should be applied to such amount at a 4% rate p.a., which may not be compounded through the payment date.

As regards courts deposit in US dollars, on March 20, 2007, the Argentine Supreme Court ruled that principal should be reimbursed with no deterioration in value whatsoever, and that the sums should be kept in their original currency.

As mentioned in notes 3.3.l.2), under BCRA Communiqués “A” 3,916 and “A” 4,686, as of September 30, 2010 and December 31, 2009, the Bank continued capitalizing in “Intangible assets” the amounts of 52,068 and 48,998 at stand-alone level, respectively, and a total of 54,317 and 50,532 at consolidated level, respectively, net of related amortizations, with respect to the differences resulting from the payments of deposit-related court orders and the estimates of the additional effects of the abovementioned Supreme Court decision.

- 40 - -

NOTES TO THE FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2010

(Translation of financial statements originally issued in Spanish – See note 22)

(Figures stated in thousands of pesos, except for where indicated)

Additionally, as of September 30, 2010 and December 31, 2009, the Bank recorded the additional payables related to such regulation under the “Provisions” account in the amount of 9,793 and 9,415 at the stand-alone level, respectively, and a total of 13,770 and 19,979 at consolidated level, respectively. Considering what has been mentioned in note 3.3.l.2),the Bank’s Management believes that there would be no significant effects, other than those recognized in accounts, that could derive from the final outcome of such actions.

20.	RESTRICTION ON EARNINGS DISTRIBUTION

Central Bank Communiqué “A” 5072 set forth the general procedure to approve the request for the authorization to distribute earnings. Accordingly, entities should evidence that they meet the requirements set forth by such Communiqué (for example, that they do not have financial assistance from the Central Bank due to lack of liquidity, that there are no instances of delays or noncompliance with the reporting system, there are not deficiencies in required minimum capital or minimum cash, etc.) Additionally, the distributable amount would be either (i) unappropriated retained earnings or (ii) the excess of computable capital over required minimum capital, whichever lower, both net of certain items (for example, differences for capitalized court decisions, valuation differences of unlisted government securities and/or government debt securities at market value, among others).

Under Law No. 25,063, dividends to be distributed in cash or in kind in excess of taxable income accumulated as of the end of the fiscal year immediately preceding the payment or distribution date shall be subject to a 35% income tax withholding as single and definitive payment. Income to be considered in each year will result from deducting the tax paid for the tax period(s) in which income was distributed or the related proportional amount from taxable income, and adding dividends or income from other corporations not computed upon determining such income in the same tax period(s). This is also applied to the years ended as from December 31, 1998; thus, the dividends to be distributed based on retained earnings as of December 31, 1997, will not be subject to the abovementioned withholding.

21.	FINANCIAL STATEMENTS PUBLICATION

Under Communiqué “A” 760, the BCRA's prior intervention is not required for the publication of these financial statements.

22.	ACCOUNTING PRINCIPLES – EXPLANATION ADDED FOR TRANSLATION INTO ENGLISH

These financial statements are presented on the basis of the accounting standards set forth by the BCRA and, except for the effects of the matters mentioned in note 5, in accordance with professional accounting standards effective in Argentina. Certain accounting practices applied by the Bank may not conform with accounting principles generally accepted in other countries.

Jorge H. Brito

Chairperson

- 41 - -

EXHIBIT A

DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF SEPTEMBER 30, 2010 AND DECEMBER 31, 2009

(Translation of financial statements originally issued in Spanish - See note 22)

(Figures stated in thousands of pesos)

	09/30/2010				12/31/2009		09/30/2010
Name	Market value		Book balance		Book balance		Position without options (1)			Options		Final position

GOVERNMENT AND PRIVATE SECURITIES

GOVERNMENT SECURITIES

Holdings in investment accounts
- Local
Federal government bonds in pesos – Maturity: 2014						222,169
Federal government bonds in pesos at BADLAR Private + 2,75 – Maturity: 2014						191,384
Secured bonds under Presidential Decree No. 1,579/02						178,979
Federal government bonds in US dollars at 7% - Maturity: 2015						38,881
Discount bonds denominated in pesos - Maturity: 2033						18,207
Consolidation bonds in pesos – Sixth series						5,350
Federal government bonds in US dollars at LIBOR - Maturity: 2012						1,784
Par bonds denominated in US dollars - Maturity: 2038 (governed by Argentine legislation)						1,594
Federal government bonds in US dollars at LIBOR - Maturity: 2013						562
Par bonds denominated in US dollars - Maturity: 2038 (governed by New York State legislation)						461
Subtotal holdings in investment accounts						659,371

Holdings for trading or financial intermediation
- Local
Federal government bonds in pesos at BADLAR Private + 300 Pbs – Maturity: 2015		276,342		276,342		1,064		246,848					246,848
Federal government bonds in pesos at BADLAR Private + 275 pbs – Maturity: 2014		205,151		205,151		1,463		204,916					204,916
Secured bonds under Presidential Decree No. 1,579/02		39,173		39,173		153		38,903					38,903
Federal government bonds in US dollars at LIBOR - Maturity: 2012		32,730		32,730		52,603		400			17,597		17,997
Federal government bonds in pesos – Maturity: 2014		4,043		4,043		6,577		4,043					4,043
Federal government bonds in US dollars at 7% - Maturity: 2015		1,493		1,493		582		556					556
Consolidation bonds in pesos – Sixth series		490		490		382		(1,151	)				(1,151	)
Federal government bonds in US dollars at 7% - Maturity: 2011		477		477		380		42					42
Federal government bonds in US dollars at 7% - Maturity: 2017		461		461				4,767					4,767
Consolidation bonds in pesos – Fourth series at 2%		403		403		599		641					641
Discount bonds denominated in pesos - Maturity: 2033		317		317		1,822		6,857					6,857
Other		818		818		2,198		2,012			35,712		37,724
Subtotal holdings for trading or financial intermediation				561,898		67,823		508,834			53,309		562,143

Government securities under repo transactions with Central Bank of Argentina
- Local
Discount bonds denominated in pesos - Maturity: 2033		1,825,520		1,825,520
Federal government bonds in US dollars at 7% - Maturity: 2017						1,046,220
Subtotal Government securities under repo transactiones with Central Bank of Argentina				1,825,520		1,046,220

Unlisted government securities
- Local
Federal Government bonds in pesos at Badlar private + 3,50 - Maturity: 2013				43,132		44,541		43,133					43,133
Debt Securities at 12% in US dollars Córdoba Province - Maturity: 2017				18,049		19,160		18,049					18,049
Federal government bonds in pesos at variable rate - Maturity: 2013				8,685		9,738		8,685					8,685
Consolidation bonds in pesos – Second series at 2%				56		199		59					59
Discount bonds denominated in pesos - Maturity: 2033 (Governed by Argentine legislation)				45				45					45
Federal Government International bonds in US dollars at 8,75% - Maturity: 2017				12				12					12
Other				1		7		1					1
Subtotal unlisted government securities				69,980		73,645		69,984					69,984

Jorge H. Brito

Chairperson

- 42 - -

EXHIBIT A

(Continued)

DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF SEPTEMBER 30, 2010 AND DECEMBER 31, 2009

(Translation of financial statements originally issued in Spanish - See note 22)

(Figures stated in thousands of pesos)

	09/30/2010				12/31/2009		09/30/2010
Name	Market value		Book balance		Book balance		Position without options (1)		Options	Final position
INSTRUMENTS ISSUED BY THE CENTRAL BANK OF ARGENTINA

Central Bank of Argentina Bills - Under Repo Transactions
Central Bank of Argentina Internal Bills in pesos – Maturity: 04-27-11				327,272
Central Bank of Argentina Internal Bills in pesos – Maturity: 04-06-10				8,474
Central Bank of Argentina Internal Bills in pesos – Maturity: 12-16-10				5,281
Central Bank of Argentina Internal Bills in pesos – Maturity: 01-26-11				868
Subtotal Central Bank of Argentina Bills - Under repo Transactions				341,895

Central Bank of Argentina Internal Bills – Listed – Own Portfolio
Central Bank of Argentina Internal Bills in pesos – Maturity: 11-03-10		182,188		182,188				182,188			182,188
Central Bank of Argentina Internal Bills in pesos – Maturity: 10-20-10		120,000		120,000				120,000			120,000
Central Bank of Argentina Internal Bills in pesos – Maturity: 11-17-10		9,554		9,554				19,419			19,419
Central Bank of Argentina Internal Bills in pesos – Maturity: 01-05-11		4,855		4,855				4,855			4,855
Central Bank of Argentina Internal Bills in pesos – Maturity: 12-22-10		3,897		3,897				37,994			37,994
Central Bank of Argentina Internal Bills in pesos – Maturity: 02-16-11								9,561			9,561
Central Bank of Argentina Internal Bills in pesos – Maturity: 04-28-10						196,021
Subtotal Central Bank of Argentina Internal Bills – Listed – Own Portfolio				320,494		196,021		374,017			374,017

Central Bank of Argentina Internal Bills - Unlisted - Own Portfolio
Central Bank of Argentina Internal Bills in pesos – Maturity: 12-16-10				594,385				594,385			594,385
Central Bank of Argentina Internal Bills in pesos – Maturity: 10-27-10				317,209				317,209			317,209
Central Bank of Argentina Internal Bills in pesos – Maturity: 02-02-11				287,646				287,646			287,646
Central Bank of Argentina Internal Bills in pesos – Maturity: 11-10-10				206,255				206,255			206,255
Central Bank of Argentina Internal Bills in pesos – Maturity: 10-06-10				181,691				277,528			277,528
Central Bank of Argentina Internal Bills in pesos – Maturity: 10-13-10				49,818				49,818			49,818
Central Bank of Argentina Internal Bills in pesos – Maturity: 12-09-10				31,743				31,743			31,743
Central Bank of Argentina Internal Bills in pesos – Maturity: 12-01-10				4,901				4,901			4,901
Central Bank of Argentina Internal Bills in pesos – Maturity: 03-09-11								4,744			4,744
Central Bank of Argentina Internal Bills in pesos – Maturity: 05-19-10						733,492
Central Bank of Argentina Internal Bills in pesos – Maturity: 03-10-10						535,929
Central Bank of Argentina Internal Bills in pesos – Maturity: 01-27-10						297,480
Central Bank of Argentina Internal Bills in pesos – Maturity: 04-14-10						193,187
Central Bank of Argentina Internal Bills in pesos – Maturity: 04-07-10						193,084
Central Bank of Argentina Internal Bills in pesos – Maturity: 01-13-10						99,532
Central Bank of Argentina Internal Bills in pesos – Maturity: 02-10-10						98,528
Central Bank of Argentina Internal Bills in pesos – Maturity: 05-05-10						95,608
Subtotal Central Bank of Argentina Internal Bills - Unlisted - Own Portfolio				1,673,648		2,246,840		1,774,229			1,774,229

Central Bank of Argentina notes - Listed - Own portfolio
Central Bank of Argentina Notes in pesos with variable coupon (BADLAR rate) – Maturity: 03-25-10						34,200
Central Bank of Argentina Notes in pesos with variable coupon (BADLAR rate) – Maturity: 02-10-10						23,101
Central Bank of Argentina Notes in pesos with variable coupon (BADLAR rate) – Maturity: 01-06-10						7,728
Central Bank of Argentina Notes in pesos with variable coupon (BADLAR rate) – Maturity: 01-20-10						3,435
Subtotal Central Bank of Argentina Notes - Listed - Own portfolio						68,464

Subtotal Instruments issued by the Central Bank of Argentina				2,336,037		2,511,325		2,148,246			2,148,246

Jorge H. Brito

Chairperson

- 43 - -

Name of the auditor		Carlos M. Szpunar
Professional association		Pistrelli, Henry Martin y Asociados S.R.L.

		09/30/2010			12/31/2009

ASSETS

A.	CASH
	Cash on hand		1,122,535			1,110,141
	Due from banks and correspondents
	Central Bank of Argentina		2,316,189			2,693,319
	Local Other		13,538			11,299
	Foreign		464,928			324,410
	Other		248			237
			3,917,438			4,139,406

B.	GOVERNMENT AND PRIVATE SECURITIES (Exhibit A)
	Holdings in investment accounts					659,371
	Holdings for trading or financial intermediation		561,898			67,823
	Government securities under repo transactions with Central Bank of Argentina		1,825,520			1,046,220
	Unlisted government securities		69,980			73,645
	Instruments issued by the Central Bank of Argentina		4,662,810			4,565,724
	less: Allowances (Exhibit J)					(44	)
			7,120,208			6,412,739

C.	LOANS (Exhibits B, C and D)
	To the non-financial government sector		277,733			205,817
	To the financial sector
	Interfinancing (granted call)		28,000			50,000
	Other financing to Argentine Financial Institutions		66,081			40,442
	Accrued interest, adjustments, foreign exchange and quoted price differences receivables		451			474
	To the non-financial private sector and foreign residents
	Overdrafts		1,649,781			1,348,982
	Documents		1,422,557			1,396,939
	Mortgage loans		800,273			716,390
	Pledged loans		296,066			261,251
	Personal loans		4,338,177			3,400,982
	Credit cards		986,933			893,450
	Other (Note 6.1.)		2,757,412			2,075,770
	Accrued interest, adjustments, foreign exchange and quoted price differences receivables		183,161			172,589
	less: Unearned discount		(21,476	)		(20,466	)
	less: Allowances (Exhibit J)		(379,896	)		(416,233	)
			12,405,253			10,126,387

		09/30/2010			12/31/2009

D.	OTHER RECEIVABLES FROM FINANCIAL INTERMEDIATION
	Central Bank of Argentina		2,113,079			1,259,703
	Amounts receivable from spot and forward sales pending settlement		506,423			1,343
	Securities and foreign currency receivable from spot and forward purchases pending settlement		480,407			592,941
	Unlisted corporate bonds (Exhibits B, C and D)		152,484			30,104
	Receivables from forward transactions without delivery of underlying asset		1,390			5,295
	Other receivables not covered by debtors classification standards (Note 6.2)		639,389			547,927
	Other receivables covered by debtors classification standards (Exhibits B, C and D)		33,274			38,000
	less: Allowances (Exhibit J)		(228,563	)		(230,655	)
			3,697,883			2,244,658

E.	RECEIVABLES FROM FINANCIAL LEASES
	Receivables from financial leases (Exhibits B, C and D)		226,366			263,942
	Accrued interest and adjustments (Exhibits B, C and D)		4,386			6,069
	less: Allowances (Exhibit J)		(6,336	)		(3,314	)
			224,416			266,697

F.	INVESTMENTS IN OTHER COMPANIES (Exhibit E)
	In financial institutions		493,524			347,862
	Other		43,129			50,192
	less: Allowances (Exhibit J)		(659	)		(747	)
			535,994			397,307

G.	OTHER RECEIVABLES
	Receivables from sale of assets (Exhibits B, C and D)		8,774			12,231
	Minimum presumed income tax - Tax Credit					10,170
	Other (Note 6.3.)		487,407			319,837
	Accrued interest and adjustments receivable on receivables from sales of assets (Exhibits B, C and D)		490			481
	Other accrued interest and adjustments receivable		135
	less: Allowances (Exhibit J)		(13,538	)		(13,949	)
			483,268			328,770

H.	BANK PREMISES AND EQUIPMENT, NET (Exhibit F)		391,865			396,645

I.	OTHER ASSETS (Exhibit F)		119,166			112,874

J.	INTANGIBLE ASSETS (Exhibit G)
	Goodwill		104,458			55,045
	Organization and development costs		176,619			147,568
			281,077			202,613

K.	ITEMS PENDING ALLOCATION		2,190			2,637

TOTAL ASSETS			29,178,758			24,630,733

		09/30/2010		12/31/2009

LIABILITIES

L.	DEPOSITS (Exhibits H and I)
	From the non-financial government sector		4,472,848		3,046,958
	From the financial sector		10,797		14,046
	From the non-financial private sector and foreign residents
	Checking accounts		3,378,930		2,649,706
	Savings accounts		3,551,646		3,177,739
	Time deposits		7,634,377		7,138,604
	Investment accounts		267,767		52,286
	Other (Note 6.4.)		453,999		396,100
	Accrued interest, adjustments, foreign exchange and quoted price differences payables		54,108		61,213
			19,824,472		16,536,652

M.	OTHER LIABILITIES FROM FINANCIAL INTERMEDIATION
	Central Bank of Argentina (Exhibit I)
	Other		1,531		1,849
	Banks and International Institutions (Exhibit I)		53,463		219,743
	Non-subordinated Corporate Bonds (Note 10. and Exhibit I)		618,465		601,016
	Amounts payable for spot and forward purchases pending settlement		456,538		540,290
	Securities and foreign currency to be delivered under spot and forward sales pending settlement		2,363,540		1,047,557
	Financing received from Argentine financial institutions (Exhibit I)
	Interfinancing - (received call)		48,000		145,000
	Other financing received from Argentine Financial Institutions		17,722		18,957
	Accrued interest payables		19		78
	Receivables from forward transactions without delivery of underlying asset		273
	Other (Note 6.5. and Exhibit I)		653,778		645,582
	Accrued interest, adjustments, foreign exchange and quoted price differences payables (Exhibit I)		41,081		50,383
			4,254,410		3,270,455

N.	OTHER LIABILITIES
	Other (Note 6.6.)		524,625		814,251
			524,625		814,251

O.	PROVISIONS (Exhibit J)		82,369		74,411

P.	SUBORDINATED CORPORATE BONDS (Note 10. and Exhibit I)		610,517		572,473

Q.	ITEMS PENDING ALLOCATION		3,962		3,690

TOTAL LIABILITIES			25,300,355		21,271,932

SHAREHOLDERS' EQUITY (As per related statement)			3,878,403		3,358,801

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			29,178,758		24,630,733

	09/30/2010		12/31/2009

MEMORANDUM ACCOUNTS

DEBIT-BALANCE ACCOUNTS		10,526,208		10,311,074

Contingent		4,647,535		4,162,339
Guarantees received		4,234,468		3,656,155
Other not covered by debtors classification standards		258		359
Contingent debit-balance contra accounts		412,809		505,825
Control		5,267,026		5,126,009
Receivables classified as irrecoverable		782,236		784,046
Other (Note 6.7.)		4,224,894		4,080,777
Control debit-balance contra accounts		259,896		261,186
Derivatives		611,647		1,022,726
Notional value of put options taken (Note 11.d))		28,013		25,229
Notional value of forward transactions without delivery of underlying asset (Note 11.a))		186,427		461,234
Interest rate swap (Note 11.b))		157,362		157,917
Derivatives debit-balance contra accounts		239,845		378,346

CREDIT-BALANCE ACCOUNTS		10,526,208		10,311,074

Contingent		4,647,535		4,162,339
Other guarantees provided covered by debtors classification standards (Exhibits B, C and D)		74,389		124,324
Other guarantees provided not covered by debtors classification standards		130,722		130,826
Other covered by debtors classification standards (Exhibits B, C and D)		207,698		250,675
Contingent credit-balance contra accounts		4,234,726		3,656,514
Control		5,267,026		5,126,009
Checks to be credited		259,896		261,186
Control credit-balance contra accounts		5,007,130		4,864,823
Derivatives		611,647		1,022,726
Notional value of call option sold (Note 11.e))				22,030
Notional value of put options sold (Note 11.c))		53,309		69,900
Notional value of forward transactions without delivery of underlying asset (Note 11.a))		186,536		286,416
Derivatives credit-balance contra account		371,802		644,380

		09/30/2010		09/30/2009

A.	FINANCIAL INCOME
	Interest on cash and due from banks		242		80
	Interest on loans to the financial sector		7,808		6,346
	Interest on overdrafts		181,375		251,413
	Interest on documents		103,560		148,491
	Interest on mortgage loans		79,384		74,590
	Interest on pledged loans		36,764		43,780
	Interest on credit card loans		132,821		127,587
	Interest on financial leases		31,152		45,880
	Interest on other loans		951,588		784,716
	Income from government and private securities, net (Note 6.8.)		744,731		930,102
	Interest on other receivables from financial intermediation		424		80
	Income from guaranteed loans - Presidential Decree No. 1,387/01		22,209		3,407
	CER (Benchmark Stabilization Coefficient) adjustment		38,502		10,830
	CVS (Salary Variation Coefficient) adjustment		554		543
	Difference in quoted prices of gold and foreign currency		115,452		107,777
	Other (Note 6.9.)		47,454		144,900
			2,494,020		2,680,522

B.	FINANCIAL EXPENSE
	Interest on checking accounts		3,449		11,461
	Interest on savings accounts		13,801		12,411
	Interest on time deposits		660,063		850,457
	Interest on interfinancing received loans (received call)		3,362		1,190
	Interest on other financing from Financial Institutions		5		3
	Interest on other liabilities from financial intermediation		46,904		62,018
	Interest on subordinated bonds		42,697		40,772
	Other interest		1,414		2,153
	CER adjustment		3,837		3,313
	Contribution to Deposit Guarantee Fund		23,310		20,746
	Other (Note 6.10.)		116,054		92,813
			914,896		1,097,337

	GROSS INTERMEDIATION MARGIN - GAIN		1,579,124		1,583,185

C.	PROVISION FOR LOAN LOSSES		79,174		126,236

D.	SERVICE-CHARGE INCOME
	Related to lending transactions		50,793		35,107
	Related to deposits		541,693		457,470
	Other commissions		22,902		21,441
	Other (Note 6.11.)		232,657		178,972
			848,045		692,990

		09/30/2010		09/30/2009

E.	SERVICE-CHARGE EXPENSE
	Commissions		52,398		39,400
	Other (Note 6.12.)		136,939		111,986
			189,337		151,386

F.	ADMINISTRATIVE EXPENSES
	Personnel expenses		789,996		634,302
	Directors' and statutory auditors' fees		25,288		27,963
	Other professional fees		53,336		42,414
	Advertising and publicity		36,852		29,891
	Taxes		68,290		55,065
	Depreciation of equipment		40,545		37,726
	Amortization of organization costs		28,921		22,532
	Other operating expenses (Note 6.13.)		163,391		142,916
	Other		14,480		15,573
			1,221,099		1,008,382

	NET INCOME FROM FINANCIAL INTERMEDIATION - GAIN		937,559		990,171

G.	OTHER INCOME
	Income from long-term investments		72,338		107,327
	Penalty interest		20,457		17,469
	Recovered loans and allowances reversed		51,628		34,176
	CER adjustments		85		48
	Other (Note 6.14.)		60,133		35,480
			204,641		194,500

H.	OTHER EXPENSE
	Penalty interest and charges payable to the Central Bank of Argentina		15		8
	Charges for other receivables uncollectibility and other allowances		16,868		16,548
	Amortization of differences related to court orders		12,474		12,450
	Depreciation and loss of other assets		2,989		4,280
	Goodwill amortization		6,792		6,324
	Other (Note 6.15.)		20,571		53,756
			59,709		93,366

	NET INCOME BEFORE INCOME TAX - GAIN		1,082,491		1,091,305

I.	INCOME TAX (Note 4.)		346,500		581,210

	NET INCOME FOR THE PERIOD - GAIN		735,991		510,095

	09/30/2010																			09/30/2009
							Earnings reserved
Changes	Capital stock		Stock issuance premium		Adjustments to Shareholders' equity		Legal		Subordinated Debt Instruments			Voluntary		Unappropriated earnings			Total			Total

Balances at the beginning of the fiscal year		594,485		398,750		4,511		613,753					211		1,747,091			3,358,801			2,821,911

Own shares reacquired																					(56,665	)

Distribution of Unappropriated earnings, which was approved by the shareholders’ meeting of April 6, 2010 and May 12, 2009, respectively:
-Legal Earning Reserved								150,387							(150,387	)
-Cash Dividends															(208,070	)		(208,070	)		(148,335	)
-Normative Earning Reserved										55,527					(55,527	)
-Tax on Personal Assets															(8,319	)		(8,319	)		(10,040	)

Reversal of special reserve from Corporate Bonds										(44,688	)				44,688

Net income for the period - Gain															735,991			735,991			510,095

Balances at the end of the period		594,485		398,750		4,511		764,140		10,839			211		2,105,467			3,878,403			3,116,966

	09/30/2010			09/30/2009
CHANGES IN CASH AND CASH EQUIVALENTS
Cash at beginning of the fiscal year		4,139,611			3,083,272
Cash at end of the period		4,083,122			3,519,404

Net (Decrease) / Increase		(56,489	)		436,132

CAUSES OF CHANGES IN CASH

Operating activities
Net collections / (payments):
Government and private securities		1,554,729			(824,190	)
Loans
To the financial sector		4,192			53,225
To the non-financial government sector		(13,880	)		45,304
To the non-financial private sector and foreign residents		(764,363	)		1,301,652
Other receivables from financial intermediation		(1,669,132	)		(221,846	)
Receivables from financial leases		70,412			130,320
Deposits
From the financial sector		(3,248	)		(10,513	)
From the non-financial government sector		1,378,339			(478,604	)
From the non-financial private sector and foreign residents		1,241,616			1,325,011
Other liabilities from financial intermediation
Financing facilities from the financial sector (received calls)		(100,361	)		41,995
Others (except liabilities included under financing activities)		94,032			193,796
Collections related to service-charge income		847,169			691,104
Payments related to service-charge expenses		(189,567	)		(151,482	)
Administrative expenses paid		(1,155,808	)		(952,109	)
Payment of organization and development costs		(54,902	)		(29,201	)
Net collections related to punitive interest		20,442			17,461
Differences from payments related to court orders		(15,545	)		(20,566	)
Collections of dividends from other companies		19,591			10,437
Other collections / (payments) related to other income and losses		55,818			(6,864	)
Net payments from other operating activities		(178,441	)		(124,618	)
Payment of income tax		(660,640	)		(251,866	)

Net cash flows generated in operating activities		480,453			738,446

	09/30/2010			09/30/2009
Investing activities
Net payments for bank premises and equipment		(31,330	)		(23,968	)
Net (payments)/collections for other assets		(7,763	)		2,840
Payments from purchase of investments in other companies and irrevocable contributions (1)		(141,856	)
Collections from sales of investments in other companies					215
Other payments for other investing activities					(669	)

Net cash flows used in investing activities		(180,949	)		(21,582	)

Financing activities
Net payments for:
Non-subordinated corporate bonds		(45,780	)		(97,832	)
Central Bank of Argentina
Other		(318	)		(76,740	)
Banks and International Institutions		(167,807	)		(31,627	)
Subordinated corporate bonds		(29,730	)		(28,357	)
Financing received from Argentine financial institutions		(1,239	)		(4,894	)
Dividend payments		(208,070	)		(148,335	)
Other payments for financing activities
Own shares reacquired					(56,665	)

Net cash flows used in financing activities		(452,944	)		(444,450	)

Financial income and holding gains on cash and cash equivalents		96,951			163,718

Net (decrease) / increase in cash		(56,489	)		436,132

	Adjustments under professional accounting standards
	Stand-Alone financial statements									Consolidated financial statements
	To equity						To income			To equity						To income
Item	09/30/2010			12/31/2009			09/30/2010			09/30/2010			12/31/2009			09/30/2010
Government securities and assistance to the government sector (a)
Holdings in special investment accounts					237,913			(237,913	)					237,913			(237,913	)
Holdings of unlisted government securities		10,590			6,446			4,144			15,411			9,160			6,251
Unlisted instruments issued by the Central Bank		(10,542	)		(3,470	)		(7,072	)		(10,534	)		(2,392	)		(8,142	)
Guaranteed loans – Presidential Decree No. 1,387/01		(3,617	)		8,817			(12,434	)		(3,625	)		8,805			(12,430	)

Business combinations (b)
Acquisition of Nuevo Banco Bisel S.A.		(121,296	)		(127,663	)		6,367			(121,296	)		(127,663	)		6,367
Other		(60,237	)		(69,547	)		9,310			(60,237	)		(69,547	)		9,310
Investments in other companies (c)		9,254			9,621			(367	)
Intangible Assets – Organization and Development Costs (d)		(52,068	)		(48,998	)		(3,070	)		(53,106	)		(50,378	)		(2,728	)
Deferred assets – Income tax (e)		80,138			39,446			40,692			85,609			46,667			38,942
Other assets (f)		1,105			2,832			(1,727	)		1,105			2,832			(1,727	)
Liabilities - Provisions (g)		(52,185	)		(51,413	)		(772	)		(52,185	)		(51,413	)		(772	)
Total		(198,858	)		3,984			(202,842	)		(198,858	)		3,984			(202,842	)

Other loans	1,796,697	1,525,768
Export financing and prefinancing	960,457	540,447
Documentary credits	258	86
Government securities		9,469
	2,757,412	2,075,770

Certificates of participation in financial trusts	347,405	340,411
Debt securities in financial trusts	291,701	206,787
Other	283	729
	639,389	547,927

Tax prepayments	298,929	162,099
Sundry receivables	93,361	93,222
Advanced payments	42,760	17,489
Security deposits	42,019	38,107
Other	10,338	8,920
	487,407	319,837

Expired time deposits	292,644	259,948
Unemployment fund for workers of the construction industry	90,250	75,323
Attachments	33,755	30,927
Special deposits related to inflows of foreign funds	4,051	7,440
Security deposits	2,143	2,158
Other	31,156	20,304
	453,999	396,100

Other payment orders pending settlement	119,155	114,204
Other withholdings and additional withholdings	108,055	94,870
Purchase financing payables	95,239	90,529
Collections and other transactions on account and behalf of others	89,895	70,084
Purchase of preferred shares of former Nuevo Banco Bisel S.A.- SEDESA (see note 7.1.e))	77,500	74,519
Miscellaneous not subject to minimum cash requirements	55,103	126,561
Miscellaneous subject to minimum cash requirements	40,295	18,718
Retirement pension payment orders pending settlement	35,922	26,363
Other	32,614	29,734
	653,778	645,582

Taxes payable	401,818	682,215
Salaries and payroll taxes payable	49,529	51,366
Miscellaneous payables	47,969	50,942
Withholdings on salaries	12,702	14,030
Prepayment for the sale of assets	12,607	13,767
Other		1,931
	524,625	814,251

Checks and securities in custody	2,696,451	2,748,731
Checks not yet collected	714,289	587,927
Managed portfolios (see note 12)	362,115	375,029
Checks and securities to be debited	350,508	259,096
Checks and securities to be collected	101,531	109,994
	4,224,894	4,080,777

Net income from government securities	716,213	818,984
Net income from participation in financial trusts	21,501	28,453
Other	7,017	82,665
	744,731	930,102

Interest on loans for export prefinancing and financing	20,768	55,539
Premiums on reverse repurchase agreements with the financial sector	16,274	58,832
Other	10,412	30,529
	47,454	144,900

Turnover tax	104,929	89,938
Premiums on repurchase agreements with the financial sector	6,131	2,448
Other	4,994	427
	116,054	92,813

Debit and credit card income	145,901	116,053
Service commissions – joint ventures (see note 2.5)	20,164	11,150
Rental of safe deposit boxes	19,251	14,479
Other	47,341	37,290
	232,657	178,972

Debit and credit card expense	54,477	44,737
Turnover tax	27,276	24,858
Collection agreements	20,591	18,519
Loan origination fees	17,504	7,435
Other	17,091	16,437
	136,939	111,986

Maintenance, conservation and repair expenses	52,511	47,072
Security services	39,189	30,854
Electric power and communications	32,115	29,207
Leases	26,495	23,170
Stationery and office supplies	6,787	7,722
Insurance	6,294	4,891
	163,391	142,916

Other adjustments and interest on other receivables	6,093	8,003
Services provided to Banco del Tucumán S.A.	4,402	4,133
Gain on transactions or sale of bank premises and equipment, and other assets	4,130	5,385
Other	45,508	17,959
	60,133	35,480

Donations	5,250	2,800
Turnover tax	2,248	1,565
Income (loss) from assignment of guaranteed loans		19,897
Other	13,073	29,494
	20,571	53,756

	Banco del Tucumán S.A.		Banco Privado de Inversiones S.A.		Macro Bank Limited		Macro Securities S.A. Company de Bolsa		Other subsidiaries and related parties (1)		09/30/2010		12/31/2009

ASSETS

Cash						3,078						3,078		2,996
Loans										62,317		62,317		13,216
Other receivables from financial intermediation		90,056		24,336				64,989				179,381		70,105
Receivables from financial leases										1,975		1,975		2,462
Other receivables														14,700
Items pending allocation		12										12		4
Total assets		90,068		24,336		3,078		64,989		64,292		246,763		103,483

LIABILITIES
Deposits				50		7		33,425		61,838		95,320		130,490
Other liabilities from financial intermediation		90,024		21,925				25,808				137,757		70,180
Miscellaneous liabilities		115								3,333		3,448		64
Total liabilities		90,139		21,975		7		59,233		65,171		236,525		200,734

MEMORANDUM ACCOUNTS
Debit-balance accounts –Contingent										1,159		1,159
Debit-balance accounts –Control						205,948				245,660		451,608		432,639
Credit-balance accounts – Contingent		923						2,213				3,136		40,180

- As of December 31, 2004	608,943
- Capital stock increase approved by the shareholders’ meeting of September 26, 2005 (1)	75,000
- Capital stock increase approved by the shareholders’ meeting of June 4, 2007 (2)	36
- Capital stock decrease approved by the shareholders’ meeting of April 21, 2009 (3)	(60,000	)
- Capital stock increase approved by the shareholders’ meeting of May 27, 2009 (4)	1,148
- Capital stock decrease approved by the shareholders’ meeting of September 10, 2009 (5)	(30,642	)

As of September 30, 2010	594,485

	09/30/2010		12/31/2009

COMMERCIAL

In normal situation		6,391,193		5,045,066
With Senior “A” guarantees and counter-guarantees		315,880		215,706
With Senior “B” guarantees and counter-guarantees		886,255		635,715
Without Senior guarantees or counter-guarantees		5,189,058		4,193,645

Subject to special monitoring		44,650		114,424
In observation
With Senior “B” guarantees and counter-guarantees		10,597		5,805
Without Senior guarantees or counter-guarantees		14,048		104,281
In negociation or with rollover agreement
With Senior “B” guarantees and counter-guarantees		547		3,932
Without Senior guarantees or counter-guarantees		19,458		406

Troubled		5,425		50,101
With Senior “B” guarantees and counter-guarantees		4,295		7,446
Without Senior guarantees or counter-guarantees		1,130		42,655

With high risk of insolvency		57,499		54,398
With Senior “A” guarantees and counter-guarantees				561
With Senior “B” guarantees and counter-guarantees		8,277		8,168
Without Senior guarantees or counter-guarantees		49,222		45,669

Irrecoverable		22,408		12,744
With Senior “B” guarantees and counter-guarantees		4,993		2,429
Without Senior guarantees or counter-guarantees		17,415		10,315

Subtotal Commercial		6,521,175		5,276,733

	09/30/2010		12/31/2009

CONSUMER

Performing		6,660,284		5,646,031
With Senior “A” guarantees and counter-guarantees		20,833		27,802
With Senior “B” guarantees and counter-guarantees		614,319		694,309
Without Senior guarantees or counter-guarantees		6,025,132		4,923,920

Low risk		87,822		92,514
With Senior “A” guarantees and counter-guarantees		50		23
With Senior “B” guarantees and counter-guarantees		11,463		11,912
Without Senior guarantees or counter-guarantees		76,309		80,579

Medium risk		66,525		81,561
With Senior “A” guarantees and counter-guarantees		83
With Senior “B” guarantees and counter-guarantees		8,168		12,836
Without Senior guarantees or counter-guarantees		58,274		68,725

High risk		108,139		125,204
With Senior “A” guarantees and counter-guarantees		6		191
With Senior “B” guarantees and counter-guarantees		5,147		11,505
Without Senior guarantees or counter-guarantees		102,986		113,508

Irrecoverable		48,727		46,061
With Senior “A” guarantees and counter-guarantees
With Senior “B” guarantees and counter-guarantees		11,286		9,477
Without Senior guarantees or counter-guarantees		37,441		36,584

Irrecoverable according to Central Bank's rules		338		342

With Senior “A” guarantees and counter-guarantees				2
Without Senior guarantees or counter-guarantees		338		340

Subtotal Consumer		6,971,835		5,991,713
Total		13,493,010		11,268,446

	09/30/2010				12/31/2009
Number of customers	Outstanding balance		% of total portfolio		Outstanding balance		% of total portfolio
10 largest customers		1,836,885		13.61		1,536,292		13.63
50 next largest customers		1,869,146		13.85		1,656,436		14.70
100 next largest customers		1,043,360		7.73		898,944		7.98
Other customers		8,743,619		64.81		7,176,774		63.69
Total		13,493,010		100.00		11,268,446		100.00

	Terms remaining to maturity
Item	Matured		Up to 1 month		Over 1 month and up to 3 months		Over 3 months and up to 6 months		Over 6 months and up to 12 months		Over 12 months and up to 24 months		Over 24 months		Total
Non-financial government sector		3		67,925		9,789		6,357		10,597		16,923		237,023		348,617

Financial sector		2		49,973		32,289		32,625		12,283		24,908		8,990		161,070

Non-financial private sector and foreign residents		244,975		3,090,076		1,548,539		1,855,416		1,631,785		1,760,772		2,851,760		12,983,323
Total		244,980		3,207,974		1,590,617		1,894,398		1,654,665		1,802,603		3,097,773		13,493,010

							Information on the issuer
	09/30/2010					12/31/2009	Data from latest financial statements
Name	Class	Unit face value	Votes per share	Number	Amount	Amount	Main business activity	Period / year-end date	Capital stock	Shareholders' equity	Income (loss) for the period / year
In financial institutions, supplementary and authorized activities

- Subsidiaries
In Argentina
Banco del Tucumán S.A.	Common	100	1	395,341	229,256	182,755	Financial institution	09/30/2010	43,960	254,921	51,706
Banco Privado de Inversiones S.A.	Common	1	1	36,659	85,797		Financial institution	09/30/2010	36,659	85,797	13,758
Macro Securities S.A. Sociedad de Bolsa	Common	1	1	12,776,680	23,183	28,374	Brokerage house	09/30/2010	12,886	23,192	5,586
Sud Inversiones & Análisis S.A.	Common	1	1	6,475,143	12,758	14,509	Services	09/30/2010	6,567	12,564	1,598
Macro Fondos S.G.F.C.I.S.A.	Common	1	1	327,183	1,394	1,503	Mutual funds management	09/30/2010	1,713	7,194	3,851
Foreign
Macro Bank Limited	Common	1	1	9,816,899	177,917	164,576	Financial institution	09/30/2010	9,817	177,917	13,341
Subtotal subsidiaries					530,305	391,717

- Non-subsidiaries
In Argentina
Banelco S.A.	Common	1	1	1,071,716	2,500	2,500	Network administration	12/31/09	23,599	61,176	15,838
Provincanje S.A.	Common	1	1	600,000	603	603	Swap of securities	12/31/09	7,200	8,985	838
Visa Argentina S.A.	Common	1	1	953,178	863	862	Business services	05/31/09	15,000	151,461	91,332
C.O.E.L.S.A.	Common	1	1	77,942	119	119	Financial Services	12/31/09	1,000	2,033	200
A.C.H. S.A.	Common	1	1	110,500	196	196	Electronic information services	12/31/09	650	2,157	186
Mercado Abierto Electrónico S.A.	Common	1,200	1	8	119	119	Electronic market	12/31/09	242	12,574	534
Macroaval S.G.R.	Common	1	1	30,500	31	31	Mutual guarantee association	12/31/09	250	6,080	324
Argentina Clearing S.A.	Common	1,380	1	30	31	31	Services	07/31/09	5,658	15,317	5,698
Garantizar S.G.R.	Common	1	1	10,000	10	10	Mutual guarantee association	12/31/09	8,335	224,988	7,204
Foreign
Banco Latinoamericano de Exportaciones S.A.	Common	10	1	7,303	312	299	Financial institution	12/31/09	1,063,000	2,565,191	208,295
Banco Latinoamericano de Exportaciones S.A.	Com "E"	1	1	3,729	230	220	Financial institution	12/31/09	1,063,000	2,565,191	208,295
Banco Latinoamericano de Exportaciones S.A.	Preferred	10		259	12	12	Financial institution	12/31/09	1,063,000	2,565,191	208,295
Subtotal non-subsidiaries					5,026	5,002

Total in financial institutions, supplementary and authorized activities					535,331	396,719

In other companies
- Non-subsidiaries
In Argentina
Other					1,302	1,316
Foreign
SWIFT S.A.	Common	1	1	3	20	19	Services	12/31/09	744,150	1,553,963	83,800
Total in other companies					1,322	1,335
Total (1)					536,653	398,054

										Depreciation for the period
Item	Net book value at beginning of fiscal year		Increases		Transfers			Decreases		Years of useful life		Amount		Net book value at end of the period
Bank premises and equipment
Buildings		266,952		9,779		1,604			2,140		50		7,626		268,569
Furniture and facilities		31,016		7,374							10		3,937		34,453
Machinery and equipment		80,702		17,760							5		23,794		74,668
Vehicles		17,975		1,443					55		5		5,188		14,175
Total		396,645		36,356		1,604			2,195				40,545		391,865

Other assets
Works in progress		15,088		13,671		(703	)		77						27,979
Works of art		1,195		22											1,217
Prepayments for the purchase of assets		1,335													1,335
Foreclosed assets		17,816		212					4,912		50		242		12,874
Leased buildings		3,723							1,147		50		61		2,515
Stationery and office supplies		2,770		13,470					12,005						4,235
Other assets		70,947		4,210		(901	)		3,977		50		1,268		69,011
Total		112,874		31,585		(1,604	)		22,118				1,571		119,166

	Net book					Amortization for
	value at					the period				Net book
Item	beginning of fiscal year		Increases		Decreases	useful life		Amount		value at end of the period
Goodwill (1)		55,045		56,205			10		6,792		104,458
Organization and development costs (2)		147,568		70,446			5		41,395		176,619

Total		202,613		126,651					48,187		281,077