SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

August 23, 2013

Commission File Number: 333-130901

MACRO BANK INC.

(Exact name of registrant as specified in its Charter)

Sarmiento 447

Buenos Aires C1 1041

Tel: 54 11 5222 6500

(Address of registrant’s principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes ¨ No x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes ¨ No x

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨ No x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):  82-    N/A  

BANCO MACRO S.A.

Financial Statements as of June 30, 2013,

together with the limited review report

on interim-period financial statements

CONTENTS

· Limited review report on interim-period financial statements

· Cover

· Balance sheets

· Statements of income

· Statements of changes in shareholders’ equity

· Statements of cash flows

· Notes to the financial statements

· Exhibits A through L, N and O

· Consolidated balance sheets

· Consolidated statements of income

· Consolidated statements of cash flows

· Consolidated statements of debtors by situation

· Notes to the consolidated financial statements with subsidiaries

· Exhibit l to the consolidated financial statements with subsidiaries

LIMITED REVIEW REPORT ON INTERIM-PERIOD FINANCIAL STATEMENTS

Translation into English – Originally issued in Spanish

See note 22 to the Financial Statements

To the Directors of

BANCO MACRO S.A.

Registered office: Sarmiento 447

City of Buenos Aires

1. We have performed a limited review of the accompanying balance sheet of BANCO MACRO S.A. as of June 30, 2013, and the related statements of income, changes in shareholders’ equity and cash flows for the six-month period then ended. We have also performed a limited review of the accompanying consolidated balance sheet of BANCO MACRO S.A. with its subsidiaries as of June 30, 2013, and the related consolidated statements of income and cash flows for the six-month period then ended, which are disclosed as supplementary information. These financial statements are the responsibility of the Bank Management.

2. We conducted our limited review in accordance with the standards of Argentine Federation of Professional Councils in Economic Sciences Technical Resolution No. 7 applicable to a limited review of the interim-period financial statements and the “Minimum external auditing standards” issued by the BCRA (Central Bank of Argentina) applicable to the review of quarterly financial statements. Under such standards, a limited review consists primarily of applying analytical procedures to the accounting information and making inquiries of the persons in charge of accounting and financial matters. A limited review is substantially less in scope than an audit of financial statements, the objective of which is to express an opinion on the financial statements taken as a whole. Therefore, we do not express such an opinion.

3. As described in note 5. to the accompanying stand-alone financial statements, the financial statements mentioned in the first paragraph have been prepared by the Bank in accordance with the accounting standards established by the BCRA, which differ from the Argentine professional accounting standards effective in Buenos Aires City in certain valuation and disclosure aspects described and quantified in such note.

4. As further explained in note 22., certain accounting practices used by the Bank to prepare the accompanying financial statements conform with the accounting standards established by the BCRA but may not conform with the accounting principles generally accepted in other countries.

5. Based on our review, we have not become aware of anything that may lead us to believe that the financial statements mentioned in the first paragraph have not been prepared, in all material respects, in accordance with the accounting standards established by the BCRA and, except for the effect of the issue mentioned in the third paragraph, with the Argentine professional accounting standards effective in the City of Buenos Aires.

6. With respect to the balance sheet of BANCO MACRO S.A. and the consolidated balance sheet of BANCO MACRO S.A. with its subsidiaries as of December 31, 2012, and the related statements of income, changes in shareholders’ equity, and cash flows for the six-month period ended June 30, 2012, which were presented for comparative purposes, we report that:

a) On February 14, 2013, we issued an audit report on the financial statements of BANCO MACRO S.A. and the consolidated financial statements of BANCO MACRO S.A. with its subsidiaries as of December 31, 2012, in which we expressed a qualified opinion due to differences between accounting standards established by the BCRA and used by the Bank, and the Argentine professional accounting standards effective in the City of Buenos Aires, which are described and quantified in note 5. to the accompanying stand-alone financial statements. We have not audited any financial statements as of any date or for any period subsequent to December 31, 2012.

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b) On August 7, 2012, we issued a limited review report on the financial statements of BANCO MACRO S.A. and the consolidated financial statements of BANCO MACRO S.A. with its subsidiaries for the six-month period ended June 30, 2012, which included qualifications due to differences between accounting standards established by the BCRA and used by the Bank, and the Argentine professional accounting standards effective in the City of Buenos Aires, which are described and quantified in note 5. to the accompanying stand-alone financial statements.

7. In compliance with current legal requirements, we report that:

a) The financial statements mentioned in the first paragraph have been transcribed into the “Inventory and Financial Statements” book.

b) The financial statements of BANCO MACRO S.A. were derived from books kept, in their formal aspects, pursuant to current legal requirements and BCRA regulations.

c) As of June 30, 2013, the liabilities accrued in employee and employer contributions to the Integrated Pension Fund System, as recorded in the Bank’s books, amounted to Ps. 38,297,706, none of which was due as of that date.

City of Buenos Aires,

August 8, 2013

PISTRELLI, HENRY MARTIN Y ASOCIADOS S.R.L.

C.P.C.E.C.A.B.A. Vol. 1 – Fo. 13

CLAUDIO N. NOGUEIRAS

Partner

Certified Public Accountant (U.B.A.)

C.P.C.E.C.A.B.A. Vol. 197 – Fo. 64

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FINANCIAL STATEMENTS AS OF

JUNE 30, 2013

BUSINESS NAME: Banco Macro S.A.

REGISTERED OFFICE: Sarmiento 447 – City of Buenos Aires

CORPORATE PURPOSE AND MAIN BUSINESS: Commercial bank

BCRA (CENTRAL BANK OF ARGENTINA): Authorized as “Argentine private bank” under No. 285.

REGISTRATION WITH THE PUBLIC REGISTRY OF COMMERCE: Under No. 1,154 - By-laws book No. 2,

Folio 75 dated March 8, 1967

EXPIRATION OF ARTICLES OF INCORPORATION: March 8, 2066

REGISTRATION WITH THE IGJ (BUSINESS ASSOCIATIONS REGULATORY AGENCY): Under No. 9,777 – Corporations Book No. 119 Volume A, dated October 8, 1996.

SINGLE TAX IDENTIFICATION NUMBER: 30-50001008-4

REGISTRATION DATES OF AMENDMENTS TO BY-LAWS:

August 18, 1972, August 10, 1973, July 15, 1975, May 30, 1985, September 3, 1992, May 10, 1993, November 8, 1995, October 8, 1996, March 23, 1999, September 6, 1999, June 10, 2003, December 17, 2003, September 14, 2005, February 8, 2006, July 11, 2006, July 14, 2009, November 14, 2012.

Name of the auditor	Claudio N. Nogueiras
Professional association	Pistrelli, Henry Martin y Asociados S.R.L.

BALANCE SHEETS

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

		06/30/2013			12/31/2012
ASSETS
A.	CASH
	Cash on hand		1,866,778			2,451,367
	Due from banks and correspondents
	Central Bank of Argentina		4,793,018			5,961,897
	Local Other		24,608			13,591
	Foreign		292,255			294,691
	Other		337			308
			6,976,996			8,721,854
B.	GOVERNMENT AND PRIVATE SECURITIES (Exhibit A)
	Holdings booked at market value		1,627,754			956,071
	Government securities under repo transactions with Central Bank of Argentina		54,782
	Holdings booked at amortized cost		511,399			345,427
	Instruments issued by the Central Bank of Argentina		1,731,836			350,607
			3,925,771			1,652,105
C.	LOANS (Exhibits B, C and D)
	To the non-financial government sector		602,510			586,349
	To the financial sector
	Interfinancing (granted call)		186,517			48,546
	Other financing to Argentine Financial Institutions		189,272			126,767
	Accrued interest, adjustments, foreign exchange and quoted price differences receivables		1,796			1,927
	To the non-financial private sector and foreign residents
	Overdrafts		4,448,033			4,242,281
	Documents		3,607,160			3,614,176
	Mortgage loans		1,787,286			1,439,935
	Pledge loans		1,111,237			905,051
	Personal loans		10,369,486			9,149,092
	Credit cards		4,912,461			4,364,439
	Other (Note 6.1.)		4,481,902			4,706,073
	Accrued interest, adjustments, foreign exchange and quoted price differences receivables		500,803			526,709
	less:  Unearned discount		(105,954	)		(93,983	)
	less:  Allowances (Exhibit J)		(882,638	)		(828,838	)
			31,209,871			28,788,524

Jorge H. Brito

Chairperson

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BALANCE SHEETS

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

		06/30/2013			12/31/2012
D.	OTHER RECEIVABLES FROM FINANCIAL INTERMEDIATION
	Central Bank of Argentina		606,387			461,630
	Amounts receivable from spot and forward sales pending settlement		1,909,063			435,434
	Securities and foreign currency receivable from spot and forward purchases pending settlement (Exhibit O)		87,607			129,844
	Unlisted corporate bonds (Exhibits B, C and D)		139,645			80,326
	Receivables from forward transactions without delivery of underlying asset		2,377			12
	Other receivables not covered by debtors classification standards (Note 6.2.)		638,862			757,490
	Other receivables covered by debtors classification standards (Exhibits B, C and D)		110,826			130,005
	Accrued interest receivables covered by debtors classification standards (Exhibit B, C and D)		446			515
	less:  Allowances (Exhibit J)		(228,551	)		(228,023	)
			3,266,662			1,767,233
E.	RECEIVABLES FROM FINANCIAL LEASES (Exhibits B, C and D)
	Receivables from financial leases		382,308			328,307
	Accrued interest and adjustments		5,679			4,984
	less: Allowances (Exhibit J)		(6,871	)		(6,585	)
			381,116			326,706
F.	INVESTMENTS IN OTHER COMPANIES (Exhibit E)
	In financial institutions		854,168			773,355
	Other		69,705			63,354
	less: Allowances (Exhibit J)		(352	)		(311	)
			923,521			836,398
G.	OTHER RECEIVABLES
	Receivables from sale of assets (Exhibits B, C and D)		5,779			6,195
	Other (Note 6.3.)		434,699			332,889
	Accrued interest and adjustments on receivables from sales of assets (Exhibits B, C and D)		253			332
	Other accrued interest and adjustments receivable		200			35
	less:  Allowances  (Exhibit J)		(6,693	)		(8,744	)
			434,238			330,707
H.	BANK PREMISES AND EQUIPMENT, NET (Exhibit F)		620,900			593,558
I.	OTHER ASSETS  (Exhibit F)		303,711			263,373
J.	INTANGIBLE ASSETS  (Exhibit G)
	Goodwill		65,815			72,841
	Organization and development costs		229,197			206,088
			295,012			278,929
K.	ITEMS PENDING ALLOCATION		3,447			4,501
TOTAL ASSETS			48,341,245			43,563,888

Jorge H. Brito

Chairperson

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BALANCE SHEETS

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

		06/30/2013		12/31/2012
LIABILITIES
L.	DEPOSITS (Exhibits H and I)
	From the non-financial government sector (Note 6.4.)		6,587,147		6,771,268
	From the financial sector		24,146		24,072
	From the non-financial private sector and foreign residents
	Checking accounts		6,241,765		5,946,947
	Savings accounts		6,746,471		6,018,303
	Time deposits		14,428,157		12,717,720
	Investment accounts		142,635		149,325
	Other (Note 6.5.)		703,291		695,067
	Accrued interest, adjustments, foreign exchange and quoted price differences payables		209,476		171,269
			35,083,088		32,493,971
M.	OTHER LIABILITIES FROM FINANCIAL INTERMEDIATION
	Central Bank of Argentina (Exhibit I)
	Other		21,136		21,645
	Banks and International Institutions (Exhibit I)		95,049		273,968
	Non-subordinated Corporate Bonds (Note 10. and Exhibit I)		572,958		523,176
	Amounts payable for spot and forward purchases pending settlement		85,694		116,092
	Securities and foreign currency to be delivered under spot and forward sales pending settlement (Exhibit O)		1,974,412		470,703
	Financing received from Argentine financial institutions (Exhibit I)
	Interfinancing (received call)		40,000		40,000
	Other financing received from Argentine financial institutions		26,983		13,724
	Accrued interest payables		73		52
	Receivables from forward transactions without delivery of underlying asset		11
	Other (Note 6.6. and Exhibit I)		1,592,920		1,813,258
	Accrued interest, adjustments, foreign exchange and quoted price differences payables (Exhibit I)		54,941		52,724
			4,464,177		3,325,342
N.	OTHER LIABILITIES
	Fees		239		7,076
	Other (Note 6.7.)		764,460		693,369
			764,699		700,445
O.	PROVISIONS (Exhibit J)		114,306		98,289
P.	SUBORDINATED CORPORATE BONDS (Note 10. andExhibit I)		810,405		740,192
Q.	ITEMS PENDING ALLOCATION		2,432		6,554
TOTAL LIABILITIES			41,239,107		37,364,793
SHAREHOLDERS' EQUITY (As per related statement)			7,102,138		6,199,095
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			48,341,245		43,563,888

Jorge H. Brito

Chairperson

- 3 -

BALANCE SHEETS

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

	06/30/2013		12/31/2012
MEMORANDUM ACCOUNTS
DEBIT-BALANCE ACCOUNTS		39,060,581		34,516,450
Contingent		10,309,883		8,960,163
Guarantees received		9,968,955		8,557,643
Other not covered by debtors classification standards		135		165
Contingent debit-balance contra accounts		340,793		402,355
Control		26,933,903		25,169,946
Receivables classified as irrecoverable		1,073,621		953,335
Other (Note 6.8.)		25,430,232		23,718,970
Control debit-balance contra accounts		430,050		497,641
Derivatives (Exhibit O)		1,816,795		386,341
Notional value of put options taken (Note 11.d))		60,137		56,045
Notional value of forward transactions without delivery of underlying asset (Note 11.a))		840,387		127,918
Interest rate swap (Note 11.b))		70,000		85,000
Derivatives debit-balance contra accounts		846,271		117,378
CREDIT-BALANCE ACCOUNTS		39,060,581		34,516,450
Contingent		10,309,883		8,960,163
Credit lines granted (unused portion) covered by debtors classification standards (Exhibits B, C and D)				19,669
Other guarantees provided covered by debtors classification standards (Exhibits B, C and D)		126,494		131,488
Other guarantees provided not covered by debtors classification standards		152,941		153,762
Other covered by debtors classification standards (Exhibits B, C and D)		61,358		97,436
Contingent credit-balance contra accounts		9,969,090		8,557,808
Control		26,933,903		25,169,946
Checks to be credited		430,050		497,641
Control credit-balance contra accounts		26,503,853		24,672,305
Derivatives (Exhibit O)		1,816,795		386,341
Notional value of put options sold (Note 11.c))				14,713
Notional value of forward transactions without delivery of underlying asset (Note 11.a))		846,271		102,665
Derivatives credit-balance contra accounts		970,524		268,963

The accompanying notes 1 through 22 and exhibits A through L, N, O and the consolidated financial statements are an integral part of these financial statements.

Jorge H. Brito

Chairperson

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STATEMENTS OF INCOME

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012

(Translation on financial statements originally issued in Spanish - See Note 22)

(Figures stated in thousands of pesos)

		06/30/2013		06/30/2012
A.	FINANCIAL INCOME
	Interest on cash and due from banks		121		74
	Interest on loans to the financial sector		18,441		22,239
	Interest on overdrafts		466,165		300,927
	Interest on documents		273,048		191,253
	Interest on mortgage loans		141,589		89,343
	Interest on pledge loans		86,379		61,218
	Interest on credit card loans		402,818		317,304
	Interest on financial leases		32,392		31,075
	Interest on other loans (Note 6.9.)		1,893,545		1,401,978
	Net income from government and private securities (Note 6.10.)		132,311		200,648
	Interest on other receivables from financial intermediation		1,409		122
	Income from guaranteed loans - Presidential Decree No. 1,387/01		15,397		60
	CER (Benchmark Stabilization Coefficient) adjustment		21,224		530
	CVS (Salary Variation Coefficient) adjustment		345		143
	Difference in quoted prices of gold and foreign currency		210,675		157,220
	Other (Note 6.11.)		93,752		133,829
			3,789,611		2,907,963
B.	FINANCIAL EXPENSE
	Interest on savings accounts		19,483		14,651
	Interest on time deposits		1,273,495		955,355
	Interest on interfinancing received loans (received call)		2,302		2,312
	Interest on other financing from Financial Institutions		7		9
	Interest on other liabilities from financial intermediation		29,589		33,378
	Interest on subordinated bonds		37,541		32,078
	Other interest		1,653		1,376
	CER adjustment		2,121		2,223
	Contribution to Deposit Guarantee Fund		29,962		24,509
	Other (Note 6.12.)		283,998		173,332
			1,680,151		1,239,223
	GROSS INTERMEDIATION MARGIN - GAIN		2,109,460		1,668,740
C.	PROVISION FOR LOAN LOSSES		222,810		275,456
D.	SERVICE-CHARGE INCOME
	Related to lending transactions		77,315		46,279
	Related to deposits		903,510		704,195
	Other commissions		23,525		19,108
	Other (Note 6.13.)		493,164		381,828
			1,497,514		1,151,410

Jorge H. Brito

Chairperson

- 5 -

STATEMENTS OF INCOME

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012

(Translation on financial statements originally issued in Spanish - See Note 22)

(Figures stated in thousands of pesos)

		06/30/2013		06/30/2012
E.	SERVICE-CHARGE EXPENSE
	Commissions		87,937		63,570
	Other (Note 6.14.)		293,723		196,710
			381,660		260,280
F.	ADMINISTRATIVE EXPENSES
	Personnel expenses		1,043,636		792,042
	Directors' and statutory auditors' fees		39,994		23,312
	Other professional fees		60,335		43,103
	Advertising and publicity		39,673		41,019
	Taxes		91,915		70,396
	Depreciation of equipment		43,937		37,989
	Amortization of organization costs		37,652		32,582
	Other operating expenses (Note 6.15.)		246,807		180,435
	Other		115,307		101,880
			1,719,256		1,322,758
	NET INCOME FROM FINANCIAL INTERMEDIATION - GAIN		1,283,248		961,656
G.	OTHER INCOME
	Income from long-term investments		96,432		84,158
	Penalty interest		20,299		17,705
	Recovered loans and allowances reversed		58,113		26,344
	CER adjustments		31		38
	Other (Note 6.16.)		50,693		40,740
			225,568		168,985
H.	OTHER EXPENSE
	Penalty interest and charges payable to the Central Bank of Argentina		9		7
	Charges for other receivables uncollectibility and other allowances		25,023		16,957
	Amortization of differences related to court orders				9,508
	Depreciation and loss of other assets		568		904
	Goodwill amortization		7,026		7,026
	Other (Note 6.17.)		28,913		13,926
			61,539		48,328
	NET INCOME BEFORE INCOME TAX - GAIN		1,447,277		1,082,313
I.	INCOME TAX (Note 4.)		529,000		426,400
	NET INCOME FOR THE PERIOD - GAIN		918,277		655,913

The accompanying notes 1 through 22 and exhibits A through L, N, O and the consolidated financial statements are an integral part of these financial statements.

Jorge H. Brito

Chairperson

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STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012

(Translation on financial statements originally issued in Spanish - See Note 22)

(Figures stated in thousands of pesos)

	06/30/2013																			06/30/2012
							Earnings reserved
Changes	Capital stock (1)		Stock issuance premium		Adjustments to Shareholders' equity		Legal		Subordinated Corporate Bonds (2)			Voluntary		Unappropriated earnings			Total			Total
Balances at the beginning of the fiscal year		594,485		398,750		4,511		1,201,445					2,443,352		1,556,552			6,199,095			4,719,552
Distribution of unappropriated earnings, as approved by the Shareholders’ Meeting held on April 11, 2013 and April 16, 2012, respectively:
- Legal reserve								298,724							(298,724	)
- Special Reserve for Subordinated Corporate Bonds (2)										71,916					(71,916	)
- Voluntary Reserve for future distributions of earnings													1,170,681		(1,170,681	)
- Personal assets tax on shares and interests															(15,234	)		(15,234	)		(14,075	)
Reversal of special reserve from Subordinated Corporate Bonds										(40,137	)				40,137
Net income for the period - Gain															918,277			918,277			655,913
Balances at the end of the period		594,485		398,750		4,511		1,500,169		31,779			3,614,033		958,411			7,102,138			5,361,390

(1) See Note 9. and Exhibit K.

(2) See Note 3.5.q.2).

The accompanying notes 1 through 22 and exhibits A through L, N, O and the consolidated financial statements are an integral part of these financial statements.

Jorge H. Brito

Chairperson

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STATEMENTS OF CASH FLOWS

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012

(Translation on financial statements originally issued in Spanish - See Note 22)

(Figures stated in thousands of pesos)

	06/30/2013			06/30/2012
CHANGES IN CASH AND CASH EQUIVALENTS (Note 3.6.)
Cash at beginning of the fiscal year		8,741,880			4,940,328
Cash at end of the period		6,976,996			6,108,637
Net (decrease) / increase in cash		(1,764,884	)		1,168,309
CAUSES OF CHANGES IN CASH
Operating activities
Net collections / (payments):
Government and private securities		(720,830	)		(718,148	)
Loans
To the financial sector		(181,904	)		(38,583	)
To the non-financial government sector		19,771			19,437
To the non-financial private sector and foreign residents		829,732			(7,076	)
Other receivables from financial intermediation		(1,497,127	)		(299,107	)
Receivables from financial leases		(22,304	)		52,659
Deposits
From the financial sector		73			2,232
From the non-financial government sector		(356,575	)		1,990,508
From the non-financial private sector and foreign residents		1,621,804			1,124,761
Other liabilities from financial intermediation
Financing facilities from the financial sector (received calls)		(2,281	)		37,719
Others (except liabilities included under financing activities)		(143,091	)		259,294
Collections related to service-charge income		1,493,525			1,144,629
Payments related to service-charge expenses		(369,591	)		(257,769	)
Administrative expenses paid		(1,636,004	)		(1,300,071	)
Payment of organization and development costs		(60,761	)		(52,143	)
Net collections from penalty interest		20,290			17,698
Differences from payments related to court orders		(3,887	)		(7,390	)
Collections of dividends from other companies					245
Other collections related to other income and losses		55,630			40,527
Net payments from other operating activities		(399,472	)		(561,216	)
Payment of income tax		(436,464	)		(140,994	)
Net cash flows (used in) / generated by operating activities		(1,789,466	)		1,307,212

Jorge H. Brito

Chairperson

- 8 -

STATEMENTS OF CASH FLOWS

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012

(Translation on financial statements originally issued in Spanish - See Note 22)

(Figures stated in thousands of pesos)

	06/30/2013			06/30/2012
Investing activities
Net payments for bank premises and equipment		(69,434	)		(62,510	)
Net payments for other assets		(38,360	)		(42,798	)
Net cash flows used in investing activities		(107,794	)		(105,308	)
Financing activities
Net collections / (payments) for:
Non-subordinated corporate bonds		(22,532	)		(227,264	)
Central Bank of Argentina
Other Other		(1,304	)		12,104
Banks and International Institutions		(182,635	)		6,773
Subordinated corporate bonds		(39,093	)		(32,899	)
Financing received from Argentine financial institutions		13,252			(897	)
Net cash flows used in financing activities		(232,312	)		(242,183	)
Financial income and holding gains on cash and cash equivalents		364,688			208,588
Net (decrease) / increase in cash		(1,764,884	)		1,168,309

The accompanying notes 1 through 22 and exhibits A through L, N, O and the consolidated financial statements are an integral part of these financial statements.

Jorge H. Brito

Chairperson

- 9 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

1. BRIEF HISTORY OF THE BANK

Macro Compañía Financiera S.A. was created in 1977 as a non-banking financial institution. In May 1988, it received the authorization to operate as a commercial bank and it was incorporated as Banco Macro S.A. Subsequently, as a result of the merger process with other entities, it adopted other names (among them, Banco Macro Bansud S.A.) and since August 2006, Banco Macro S.A. (hereinafter, the Bank).

The Bank´s shares have been publicly listed on the BCBA (Buenos Aires Stock Exchange) since November 1994, and as from March 24, 2006, they are listed on the New York Stock Exchange (NYSE).

Since 1994, Banco Macro S.A.’s market strategy was mainly focused on the regional areas outside the City of Buenos Aires. Following this strategy, in 1996, Banco Macro S.A. started the process to acquire entities and assets and liabilities during the privatization of provincial and other banks.

In 2001, 2004, and 2006, the Bank acquired the control of Banco Bansud S.A., Nuevo Banco Suquía S.A., and Nuevo Banco Bisel S.A., respectively. Such entities merged with and into Banco Macro S.A. in December 2003, October 2007, and August 2009, respectively. During fiscal years 2006 and 2010, Banco Macro S.A. acquired control over Banco del Tucumán S.A. and Banco Privado de Inversiones S.A. (see Note 2.6.).

The Bank currently offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals, thus reinforcing the Bank's objective to be a multi-services bank.

In addition, the Bank performs certain transactions through its subsidiaries, Banco del Tucumán S.A., Banco Privado de Inversiones S.A., Macro Bank Limited (an entity organized under the laws of Bahamas), Macro Securities S.A. Sociedad de Bolsa, Macro Fiducia S.A. and Macro Fondos SGFCI S.A.

2. BANK OPERATIONS

2.1. Agreement with the Misiones Provincial Government

The Bank and the Misiones Provincial Government entered into a special-relationship agreement whereby the Bank was appointed, for a term of five years since January 1, 1996, as the Provincial Government’s exclusive financial agent, as well as revenue collection and obligation payment agent.

On November 25, 1999, and December 28, 2006, extensions to such agreement were agreed upon, making it currently effective through December 31, 2019.

As of June 30, 2013, and December 31, 2012, the deposits held by the Misiones Provincial Government with the Bank amounted to 1,552,310 and 1,472,825 (including 48,991 and 39,518 related to court deposits), respectively.

2.2. Agreement with the Salta Provincial Government

The Bank and the Salta Provincial Government entered into a special-relationship agreement whereby the Bank was appointed, for a term of ten years as from March 1, 1996, as the Provincial Government’s exclusive financial agent, as well as revenue collection and obligation payment agent.

On February 22, 2005, such agreement was extended through March 1, 2016.

As of June 30, 2013, and December 31, 2012, the deposits held by the Salta Provincial Government with the Bank amounted to 1,897,776 and 1,694,001 (including 186,670 and 177,611 related to court deposits), respectively.

2.3. Agreement with the Jujuy Provincial Government

The Bank and the Jujuy Provincial Government entered into a special-relationship agreement whereby the Bank was appointed, for a ten-year term since January 12, 1998, as the Provincial Government’s exclusive financial agent, as well as revenue collection and obligation payment agent.

On April 29, 2005, such agreement was extended through November 4, 2014.

- 10 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

As of June 30, 2013 and December 31, 2012, the deposits held by the Jujuy Provincial Government with the Bank amounted to 1,137,633 and 717,115 (including 94,749 and 88,244 related to court deposits), respectively.

2.4. Banco del Tucumán S.A.

Banco del Tucumán S. A. entered into special-relationship agreements with the Tucumán Provincial Government and with the Municipality of San Miguel de Tucumán, appointing it their exclusive financial agent, as well as revenue collection and obligation payment agent, through 2011 and 2013, respectively.

On June 30, 2010, the service agreement with the Tucumán Provincial Government was extended through July 8, 2021, while the agreement executed with the Municipality of San Miguel de Tucumán was automatically extended through July 8, 2018, as set forth in the original agreement.

As of June 30, 2013 and December 31, 2012, the deposits held by the Tucumán Provincial Government and the Municipality of San Miguel de Tucumán with Banco del Tucumán S.A. amounted to 1,749,733 and 1,296,416 (including 442,087 and 399,832 related to court deposits), respectively.

2.5. Uniones Transitorias de Empresas (joint ventures)

a) Banco Macro S.A. - Siemens Itron Business Services S.A.

On April 7, 1998, the Bank entered into a joint venture agreement with Siemens Itron Business Services S.A., in which each holds a 50% equity interest, whereby a provincial data processing center would be provided to manage tax-related issues, to modernize tax collection systems and procedures in the Province of Salta, and to manage and perform the recovery of taxes and municipal assessments payable.

b) Banco Macro Bansud S.A. - Montamat & Asociados S.R.L.

On October 22, 2004, the Bank entered into a UTE (joint venture) agreement with Montamat & Asociados S.R.L under the name “BMB M&A – Unión Transitoria de Empresas”, in which each hold a 50% equity interest. The purpose of such agreement is to render audit services related to oil and gas royalties and fiscal easements in the Province of Salta to optimize tax collection in such province.

c) Banco Macro S.A. – Gestiva S.A.

On May 4, 2010, and August 15, 2012, the Bank and Gestiva S.A. entered into a joint venture under the name “Banco Macro S.A. – Gestiva S.A. – Unión Transitoria de Empresas” which is jointly controlled and is engaged in providing a comprehensive tax processing and management system for the Province of Misiones, its administration and collection of taxes thereof. The Bank has a 5% interest in its capital stock.

As of June 30, 2013, and December 31, 2012, the net assets of such joint ventures recorded and consolidated in the Bank’s financial statements through the equity method amounted to 12,634 and 10,686, respectively.

Also, as of June 30, 2013, and 2012, net income recorded through the method mentioned in the previous paragraph amounted to 12,975 and 23,561, respectively.

2.6. Legal merger of Banco Privado de Inversiones S.A.

On March 7, 2013, the Boards of Directors of Banco Macro S.A. and Banco Privado de Inversiones S.A entered into a “Preliminary merger agreement", whereby Banco Privado de Inversiones S.A. will merge with and into Banco Macro S.A. retroactively effective since January 1, 2013, based on the financial statements of the banks as of December 31, 2012.

On June 10, 2013, the special general shareholders’ meetings of Banco Macro S.A. and Banco Privado de Inversiones S.A., approved the preliminary merger agreement, the special purpose consolidated merger balance sheet as of December 31, 2012, the shares exchange relationship and the corresponding increase in capital of the absorbing entity.

- 11 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

The share exchange relationship was agreed at 0.106195 of a common share of Banco Macro S.A. per common share of Banco Privado de Inversiones S.A. Therefore, the minority shareholders of Banco Privado de Inversiones S.A. will be entitled to receive 0.106195 shares of Banco Macro S.A. for each common share they hold in Banco Privado de Inversiones S.A.’s capital stock. Consequently, Banco Macro S.A. will issue 77,860 Class B shares of common stock with a face value of Ps 1, subject to the approvals by the appropriate agencies.

After the term within which the Bank’s creditors could file objections elapsed, the "final merger agreement" was signed on July 10, 2013.

Additionally, as of the date of issuance of these financial statements, the merger was pending approval by the Bank’s various oversight agencies.

3. SIGNIFICANT ACCOUNTING POLICIES

These financial statements, which are taken from the Bank’s books of account, are stated in thousands of pesos and have been prepared in accordance with Central Bank rules and the Argentine professional accounting standards effective in the City of Buenos Aires (see Note 5.).

3.1. Consolidated financial statements

As required under Central Bank rules, the Bank presents consolidated financial statements with its subsidiaries Banco del Tucumán S.A., Banco Privado de Inversiones S.A., Macro Bank Limited, Macro Securities S.A. Sociedad de Bolsa, Macro Fiducia S.A. and Macro Fondos SGFCI S.A. as supplementary information.

3.2. Comparative information

As required under Central Bank rules, the balance sheet as of June 30, 2013, and supplementary information are presented comparatively with those of the prior fiscal year, while the statements of income, changes in shareholders’ equity and cash flows for the six-month period ended June 30, 2013, are presented comparatively with data for the same period in the prior fiscal year.

Additionally, due to the modification of certain disclosure methods defined for certain items in the balance sheet, which do not materially affect the shareholders’ equity of the Bank, the financial statements as of December 31, 2012 were modified for the sole purpose of comparing them with the financial statements as of June 30, 2013.

3.3. Unit of measurement

Professional accounting standards in Argentina establish that the financial statements should be stated in constant pesos. In a monetary stability context, the nominal currency is used as constant currency; however, during inflationary or deflationary periods, financial statements are required to be stated in constant currency as of the latest balance sheet date, recognizing the variations in the domestic wholesale price index (domestic WPI) published by the INDEC (Argentine Institute of Statistics and Censuses), in conformity with the restatement method under FACPCE (Argentine Federation of Professional Councils in Economic Sciences) Technical Resolution No. 6.

The Bank’s financial statements reflect the changes in the peso purchasing power through February 28, 2003, under Presidential Decree No. 664/2003, IGJ (Argentine regulatory agency of business associations) General Resolution No. 4/2003, CNV General Resolution No. 441, and Central Bank Communiqué “A” 3921. Professional accounting standards provide that the restatement method established by Technical Resolution No. 6 should have been discontinued since October 1, 2003. The effects of not having recognized the changes in the peso purchasing power through such date have not been material to the financial statements taken as a whole.

3.4. Significant accounting judgments, estimates and assumptions

The preparation of financial statements requires the Bank to make, in certain cases, estimates to determine the book values of assets and liabilities, income, expenses and contingencies, as well as the disclosure thereof, as of each date of accounting information filing. The Bank´s records are based on the best estimate regarding the probability of occurrence of different future events and, therefore, the final amount may differ from such estimates, which may have a positive or negative impact on future fiscal years.

- 12 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

3.5. Valuation methods

The main valuation methods used to prepare the accompanying financial statements as of June 30, 2013, and 2012 and December 31, 2012, were as follows:

a) Assets and liabilities denominated in foreign currency:

The assets and liabilities denominated in US dollars were valued at Central Bank benchmark US dollar exchange rate effective as of the closing date of transactions on the last respective business day. Additionally, assets and liabilities denominated in other foreign currencies were translated at the exchange rate communicated by the Central Bank´s dealing room. Foreign exchange differences were recorded in the related statements of income.

b) Government and private securities:

b.1) Government securities - Holdings booked at market value:

They were valued at the quoted prices or present values reported by the Central Bank, as the case may be. Differences in quoted prices and present values were recorded in the related statements of income.

b.2) Government securities - Holdings booked at amortized cost:

As set forth in Central Bank Communiqué “A” 5180, as supplemented, they were valued at acquisition cost increased by the accrued internal rate of return, net of the related offset account, also compared with the present values calculated by the Bank. The acquisition value previously mentioned is related to the present value of each security at acquisition date.

As of June 30, 2013 and December 31, 2012, the present value calculated by the Bank for these securities amounts to 515,276 and 352,521, respectively.

b.3) Listed Instruments issued by the Central Bank – Holdings booked at market value:

They were valued at the quoted price as of the last respective business day. Differences in quoted prices were recorded in the related statements of income.

b.4) Instruments issued by the Central Bank – Holdings booked at amortized cost:

Holdings with no volatility published by the Central Bank were valued at acquisition cost plus accrued interest, exponentially applying the internal rate of return as per their issuance terms and conditions. The accruals of the internal rate of return mentioned above were recorded in the related statements of income.

c) Guaranteed loans – Presidential Decree No. 1,387/01:

As set forth in Central Bank Communiqués “A” 4898, “A” 5180, as supplemented, the guaranteed loans issued by the Argentine Government under Presidential Decree No. 1,387/01 were valued at the specific acquisition value of each security, increased by accrued income including the benchmark stabilization coefficient (CER), net of the related offset account, compared in turn with the present values reported by the Central Bank.

As of June 30, 2013 and December 31, 2012, the present value reported by the Central Bank for these securities amounted to 264,679 and 272,589, respectively.

d) Interest accrual:

Interest has been accrued according to a compound interest formula in the period in which it was generated, except interest on transactions in foreign currency and those whose maturity does not exceed 92 days, on which interest has been accrued according to a simple interest formula.

The Bank suspends the interest accrual whenever loan payments are not settled (generally, after 90 days) or when the recoverability of the collection of principal or interest accrued is doubtful. Accrued interest is considered part of the loan balance when determining the allowances for loan losses. Afterwards, interest is only recognized on a cash basis.

- 13 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

e) CER accrual:

Receivables and payables have been indexed by the CER, wherever applicable, as follows:

e.1) Guaranteed loans: as explained in Note 3.5.c).

e.2) Deposits and other assets and liabilities: The CER as of the last respective business day was applied.

f) Allowance for loan losses and provision for contingent commitments:

These provisions have been calculated based on the estimated uncollectibility risk of the Bank's credit portfolio, which, among other factors, results from the evaluation of the degree of debtors compliance and the guarantee/security supporting the respective transactions, considering Central Bank Communiqué “A” 2950, as supplemented, and the Bank’s provisioning policies.

When loans covered by specific allowances are settled or generate a reversal of the allowances recorded in the current period, and in cases where the allowances set in prior years exceed what is considered necessary, the excess allowance is reversed with effects on income for the current period.

The recovery of receivables previously classified under “Debit-balance control memorandum accounts - Receivables classified as irrecoverable” are recorded directly in the related statements of income.

The Bank assesses the credit risk related to possible commitments and determines the appropriate amount of allowances to be recorded. The allowances related to amounts recorded in memorandum accounts, contingent commitments, are included under “Provisions”.

g) Loans and deposits of Government securities:

They were valued at the quoted price as of the last respective business day, plus the related accrued interest. Differences in quoted prices and accrued interest were recorded in the related statements of income.

h) Other receivables from financial intermediation and Other liabilities from financial intermediation:

h.1) Amounts receivable from spot and forward sales pending settlement and amounts payable for spot and forward purchases pending settlement:

They were valued based on the prices agreed upon for each transaction, plus related premiums accrued.

h.2) Securities and foreign currency to be received for spot and forward purchases pending settlement and to be delivered for spot and forward sales pending settlement:

i. With volatility (active market): they were valued at the effective quoted prices for each of them at the last respective business day. Differences in quoted prices were recorded in the related statements of income.

ii. Without volatility (without active market): they were valued at their cost value increased exponentially by their internal rate of return. Such accruals were recorded in the related statements of income.

h.3) Debt securities and certificates of participation in financial trusts:

i. Debt securities: they were valued as provided by the Central Bank Communiqué “A” 4414, at their cost value, increased exponentially by their internal rate of return, translated into pesos according to the method described in Note 3.5.a), as the case may be.

ii. Debt securities in Galtrust financial trust: they were valued as provided by Central Bank Communiqué “A” 5180, as supplemented, considering the quoted price of the underlying assets (government securities) as of the last respective business day, in the appropriate proportion.

iii. Certificates of participation in TST & AF Trust: as of December 31, 2012, they were valued by the equity method, considering the residual value of the goodwill arising from the excess of the investment cost over its book value.

- 14 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

iv. Other certificates of participation: they were stated at cost or face value increased as the case may be, by interest accrued until the last respective business day, translated into Argentine pesos according to the method described in Note 3.5.a), as appropriate.

The values recorded, net of allowances, do not exceed the recoverable values from the respective trusts.

h.4) Unlisted corporate bonds purchased:

They were valued by the accrual method based on their internal rate of return, as provided by Central Bank Communiqué "A" 4414 and supplementary regulations. Such accruals were recorded in the related statements of income.

h.5) Non subordinated corporate bonds issued:

They were valued at the amount due for principal and interest accrued, translated into pesos pursuant to the method described in Note 3.5.a). Such accruals were recorded in the related statements of income.

i) Receivables from financial leases:

In accordance with Central Bank Communiqué “A” 5047, as supplemented, they were valued according to the discounted value of the sum of minimum installments pending collection (excluding any contingent installments), from the previously agreed residual value and the purchase options, for the financial lease agreements in which the Bank acts as lessor. The discounted value is calculated by applying the imputed interest rate of each lease agreement.

As of June 30, 2013 and December 31, 2012, the effective financial lease agreements do not represent significant amounts with respect to the total financing granted by the Bank. Additionally, their characteristics are among the usual ones for this kind of transactions, and there are no differentiating issues of any kind compared with the transactions agreed on the Argentine financial market. These transactions are distributed among the Bank’s customers, and there are no pre established contingent installments or automatic renewal clauses.

j) Investments in other companies:

j.1) In controlled financial institutions, supplementary and authorized activities: they were valued by the equity method.

j.2) In non-controlled financial institutions, supplementary and authorized activities:

i. In pesos: they were valued at acquisition cost, plus the nominal value of share-dividends received, restated as explained in Note 3.3., as the case may be.

ii. In foreign currency: they were valued at the acquisition cost in foreign currency, plus the nominal value of share-dividends received, translated into pesos in accordance with the criterion stated in Note 1. to the consolidated financial statements.

Such net values do not exceed the values calculated by the equity method on the basis of the latest financial statements published by the companies.

j.3) In other non-controlled companies: they were valued at acquisition cost, plus the nominal value of share-dividends received, restated as described in Note 3.3., as the case may be, net of allowances for impairment in value. Such net values do not exceed the values calculated by the equity method on the basis of the latest financial statements published by the companies.

k) Bank premises and equipment and other assets:

They were valued at their acquisition cost, restated as explained in Note 3.3., less the related accumulated depreciation calculated based on their estimated useful life using the straight line method.

- 15 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

l) Intangible assets:

Goodwill and organization and development costs: they were valued at their cost, restated as explained in Note 3.3. as the case may be, less the related accumulated amortization, calculated under the straight line method over their estimated useful life.

m) Valuation of derivatives:

m.1) Put options sold on BODEN 2013 coupons: as of December 31, 2012 such options were valued at the exchange value of the bonds plus interest and the CER adjustment accrued on the last respective business day.

m.2) Interest rate swap: this included the equivalent in pesos of the notional value in relation to which the Bank agreed to charge or pay a spread between fixed and variable rates.

m.3) Forward transactions without delivery of underlying asset: they were valued at the quoted price of the underlying assets upon maturity, as of the last respective business day. Differences in quoted prices were recorded in the related statements of income.

m.4) Put options taken: valued at the agreed-upon exercise price.

See also Note 11.

n) Severance payments:

The Bank charges these payments directly to expenses.

o) Provisions included in liabilities:

The Bank carries certain contingent liabilities related to current or future claims, lawsuits and other proceedings, including those related to labor and other obligations. Liabilities are recorded when it is probable that future costs will be incurred and whenever such costs may be reasonably estimated.

p) Subordinated corporate bonds:

They were valued at the amount due for principal and interest accrued, translated into pesos pursuant to the method described in Note 3.5.a). Such accruals were recorded in the related statements of income.

q) Shareholders’ equity accounts:

q.1) They are restated as explained in Note 3.2., except for the "Capital stock" account which has been kept at its original value. The adjustment resulting from its restatement as explained in Note 3.3. was included in the "Adjustments to shareholders’ equity" account.

q.2) Special reserve for subordinated corporate bonds: related to the reserve created for paying the financial services of subordinated corporate bonds issued by the Bank (see Note 10.a.1), this reserve is reversed on a monthly basis as the related interest is recorded in the related statements of income.

r) Statement-of-income accounts:

r.1) The accounts comprising monetary transactions (financial income (expense), service-charge income (expense), provision for loan losses, administrative expenses, among others) were computed at their historical amounts on a monthly accrual basis.

r.2) The accounts reflecting the effects on income from the sale, retirement or consumption of non monetary assets were computed on the basis of the amounts of such assets, which were restated as mentioned in Note 3.3.

r.3) The income (loss) from equity interests in subsidiaries were computed on the basis of such companies’ income (loss).

- 16 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

3.6. Statement of cash flows and cash equivalents

The Bank considers “cash and cash equivalents” to include the following accounts: Cash and Government and private securities which mature less than 90 days since their date of acquisition. Below is a breakdown of the reconciliation of the “Cash” item on the Statement of cash flows with the related balance sheet accounts:

	06/30/2013		12/31/2012		06/30/2012
Cash		6,976,996		8,721,854		6,108,637
Government and private securities
Instruments issued by the Central Bank				20,026
Cash and cash equivalents		6,976,996		8,741,880		6,108,637

4. INCOME TAX AND MINIMUM PRESUMED INCOME TAX

The Bank calculates income tax by applying the effective 35% rate to the estimated taxable income for each period, without considering the effect of temporary differences between book and taxable income.

In 1998, Law No. 25,063 established minimum presumed income tax for a ten-year term. At present, after subsequent extensions, such tax is effective through December 30, 2019. This tax is supplementary to income tax, while the latter is levied on the taxable income for the year, minimum presumed income tax is a minimum levy assessment by applying the 1% over the 20% of certain assets as provided by the law for financial institutions. Therefore, the Bank’s tax obligation for each year will be equal to the higher of these taxes. However, if minimum presumed income tax exceeds income tax in a given tax year, such excess may be computed as a payment on account of any income tax in excess of minimum presumed income tax that may occur in any of the following ten years, once accumulated net operating losses (NOLs) have been used.

As of June 30, 2013 and 2012, the Bank estimated an income tax charge of 529,000 and 426,400, respectively; hence, no minimum presumed income tax should be assessed for periods ended on such dates.

Additionally, as of June 30, 2013, the Bank made income tax prepayments for 184,533 for the 2013 fiscal year, which will be applied to the tax amount assessed in the 2013 tax return.

5. DIFFERENCES BETWEEN CENTRAL BANK RULES AND THE ARGENTINE PROFESSIONAL ACCOUNTING STANDARDS EFFECTIVE IN THE CITY OF BUENOS AIRES

Argentine professional accounting standards effective in the City of Buenos Aires differ, in certain valuation and disclosure aspects, from Central Bank accounting standards. The differences between those standards, which the Bank identified and deemed material to these financial statements, are as follows:

- 17 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

5.1. Valuation standards

The main items with differences in valuation matters as of June 30, 2013 and December 31, 2012 are as follows:

	Adjustments under professional accounting standards
	Stand-alone financial statements									Consolidated financial statements
							to total									to total
							income /									income /
	to equity						(loss) (1)			to equity						(loss) (1)
Item	06/30/2013			12/31/2012			06/30/2013			06/30/2013			12/31/2012			06/30/2013
Government securities and assistance to the government sector (a)
Government securities - Holdings booked at amortized cost		6,033			6,300			(267	)		5.863			6,583			(720	)
Instruments issued by the Central Bank and booked at amortized cost					21			(21	)		(419	)		63			(482	)
Guaranteed  loans – Presidential Decree No. 1,387/01		(28,125	)		(16,350	)		(11,775	)		(28,125	)		(16,350	)		(11,775	)
Business combinations (b)
Acquisition of Nuevo Banco Bisel S.A.		(97,500	)		(102,276	)		4,776			(97,500	)		(102,276	)		4,776
Other		(60,413	)		(62,762	)		2,349			(60,413	)		(62,762	)		2,349
Interests in other companies (c)		20,177			16,761			3,416
Deferred assets – Income tax (d)		124,444			67,950			56,494			145,210			84,386			60,824
Other assets (e)		669			(477	)		1,146			669			(477	)		1,146
Liabilities – Provisions (f)		(57,140	)		(59,351	)		2,211			(57,140	)		(59,351	)		2,211
Total		(91,855	)		(150,184	)		58,329			(91,855	)		(150,184	)		58,329

(1) Additionally, according to the Argentine professional accounting standards effective in the City of Buenos Aires, individual and consolidated income for the six-month period ended June 30, 2012, would have increased by 97,388.

(a) Holdings of government securities, instruments issued by the Central Bank and credit assistance to the nonfinancial government sector: these holdings and financing are valued based on the specific regulations and standards issued by the Argentine government and the Central Bank, which set forth, among other issues, the use of present values, technical values and offset accounts, as explained in Notes 3.5.b.2), 3.5.b.4) and 3.5.c). Pursuant to the Argentine professional accounting standards effective in the City of Buenos Aires, the securities, instruments and assistance mentioned in those notes should be stated at their market and/or present values, as the case may be. In addition, Central Bank current regulations establish that financing to the nonfinancial government sector is not subject to loan-loss provisioning, whereas the Argentine professional accounting standards effective in the City of Buenos Aires require that assets in general to be compared with their recoverable value every time financial statements are prepared.

- 18 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

(b) Business combinations: under the standards set forth by Central Bank, business acquisitions are recorded according to the book values of the acquired company and, if the purchase price exceeds the book value, the excess amount is recorded in the acquiring company´s books as a positive goodwill. On the other hand, if the purchase price is lower than book value, the difference is recorded in the acquiring company´s books as a negative goodwill. If the goodwill is positive, Central Bank standards establish that such goodwill should be amortized under the straight-line method based on an estimated useful life of ten years. If the goodwill is negative, Central Bank Communiqué “A” 3984 establishes specific amortization methods; the maximum amortization allowed per annum is 20%.

According to the Argentine professional accounting standards effective in the City of Buenos Aires, business combinations are recorded based on the market values of the acquired company’s identifiable net assets and the difference between the purchase price and the identifiable net asset measurement value is recorded as either a positive or a negative goodwill, as the case may be. If a positive goodwill is recognized, this goodwill will be amortized systematically over the estimated useful life, unless it has an indefinite useful life considering the estimates made by the Bank´s Management, in which case it shall not be amortized, but compared with its recoverable value as of each year-end. If a negative goodwill is recognized due to expected losses or future expenses of the acquired entity and which should not have been recorded as liabilities as of the acquisition date, it will either be charged to the statement of income according to the change in specific circumstances that gave rise to it or systematically, taking into account an average weighted useful life of the acquired entity’s assets subject to depreciation and amortization.

(c) Subsidiaries Banco del Tucumán S.A. and Banco Privado de Inversiones S.A., prepare its financial statements in conformity with Central Bank rules, which differ from the Argentine professional accounting standards effective in the City of Buenos Aires.

(d) Income tax: The Bank and its subsidiaries determine income tax applying the effective rate to the estimated taxable income, without considering the effect of the temporary differences between book and taxable income. According to the Argentine professional accounting standards effective in the City of Buenos Aires, income tax should be booked following the deferred tax method, according to which (i) in addition to the current tax payable, either an asset (if certain conditions are met) or a liability is recognized for deferred taxes related to the tax effect of the temporary differences between the book and tax valuation of assets and liabilities, and (ii) a tax expense (income) is recognized in relation to the portion involving the current tax expense (income) as well as the one involving the deferred tax expense (income), resulting from the creation and reversal of the abovementioned temporary differences in the year. Under Argentine professional accounting standards effective in the City of Buenos Aires, a deferred tax asset is recognized when there are unused NOLs or tax credits that can be deducted from future taxable income, provided they are likely.

(e) The Bank recorded interest rate swap agreements in conformity with the Central Bank accounting standards under memorandum accounts. According to the Argentine professional accounting standards effective in the City of Buenos Aires, the measurement of derivative financial instruments should be made at their net realizable value if they have quoted prices, or lacking this, using mathematical models that are appropriate in relation to the instrument’s characteristics and using variables that can be verified.

(f) The Bank books the effects of the Argentine Supreme Court rulings dated December 27, 2006, and August 28, 2007, upon payment of such precautionary measures, in conformity with Central Bank indications in the notice dated August 4, 2008. According to the Argentine professional accounting standards effective in the City of Buenos Aires, the Bank should have recorded a liability related to this item.

5.2. Disclosure standards

a) The Bank did not classify its assets and liabilities as current or noncurrent based on the time they are expected to be turned into cash or cash equivalents or on the time when the latter become due and payable, as required by the Argentine professional accounting standards effective in the City of Buenos Aires.

b) There are differences between the cash flow information disclosed and the requirements established by the Argentine professional accounting standard effective in the City of Buenos Aires such as the lack of segregation of the interest earned and paid by the Bank, considering that this statement is prepared according to specific standards applicable to financial institutions.

c) There are differences between the disclosure required by the Argentine professional accounting standards in the City of Buenos Aires and the disclosure made by the Bank regarding its income statement items, as this statement is prepared according to specific standards applicable to financial institutions.

- 19 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

d) The supplementary information presented by the Bank, is the information specifically required by Central Bank regulations. This regulation does not contemplate all disclosure requirements of the Argentine professional accounting standards in the City of Buenos Aires, such as the disclosure of due dates for all receivables and payables together with their interest rates or adjustments, certain information about transactions with related parties, the exchange rate applicable to different foreign currencies assets and liabilities at the end of the period, etc.

6. BREAKDOWN OF THE ITEMS INCLUDED IN “OTHER” AND MAIN SUBACCOUNTS

The breakdown of the “Other” account in the balance sheet and statement of income is as follows:

6.1) Loans - Other

	06/30/2013		12/31/2012
Other loans		3,469,228		3,715,721
Export financing and prefinancing		1,012,674		990,352
		4,481,902		4,706,073

6.2) Other receivables from financial intermediation - Other receivables not covered by debtor classification standards

Debt securities issued by financial trusts	398,081	421,755
Certificates of participation in financial trusts	240,781	335,703
Other		32
	638,862	757,490

6.3) Other receivables – Other

Sundry receivables	283,648	227,647
Security deposits	103,630	51,938
Advanced prepayments	32,317	36,631
Tax prepayments	2,432	5,823
Other	12,672	10,850
	434,699	332,889

6.4) Deposits - Nonfinancial government sector

Certificate of deposit	3,178,437	3,430,988
Checking accounts	2,133,355	2,016,288
Savings accounts	729,535	594,561
Investment accounts	163,065	224,876
Accrued interest, adjustments and listed price differences payable	41,976	47,781
Other	340,779	456,774
	6,587,147	6,771,268

6.5) Deposits - From the non-financial private sector and foreign residents - Other

Expired time deposits	405,042	441,603
Unemployment fund for workers of the construction industry	156,827	145,572
Attachments	113,838	87,487
Security deposits	1,734	1,606
Special deposits related to inflows of foreign funds	645	1,539
Other	25,205	17,260
	703,291	695,067

- 20 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

6.6) Other liabilities from financial intermediation - Other

	06/30/2013		12/31/2012
Purchase financing payables		509,187		602,147
Other withholdings and additional withholdings		247,960		279,894
Collections and other transactions on account and behalf of others		242,616		130,190
Other payment orders pending settlement		148,480		152,063
Miscellaneous not subject to minimum cash requirements		140,360		461,905
Miscellaneous subject to minimum cash requirements		95,327		25,216
Sociedad Seguro de Depósitos (SEDESA) – Purchase of preferred shares of former Nuevo Banco Bisel S.A.  (see note 7.)		83,832		83,832
Retirement pension payment orders pending settlement		62,677		41,208
Other		62,481		36,803
		1,592,920		1,813,258

6.7) Other Liabilities - Other

Taxes payable	517,410	461,627
Miscellaneous payables	111,009	94,105
Salaries and payroll taxes payable	93,282	103,186
Withholdings on salaries	38,194	29,876
Prepayment for the sale of assets	4,565	4,575
	764,460	693,369

6.8) Memorandum accounts – Debit-balance accounts – Control – Other

Checks and securities in custody – ANSES (Argentine social security administration)	17,854,414	15,843,687
Securities in custody	3,973,016	4,425,794
Checks and securities not yet collected	2,477,724	2,238,872
Checks and securities to be debited	512,671	627,706
Managed portfolios (see note 12.)	475,390	458,591
Checks and securities to be collected	137,017	124,320
	25,430,232	23,718,970

6.9) Financial income – Interest on other loans

	06/30/2013		06/30/2012
Personal loans		1,489,892		1,092,858
Other		403,653		309.120
		1,893,545		1,401,978

6.10) Financial income – Net income from government and private securities

Government securities	101,444	173,724
Financial trusts	24,815	19,149
Other	6,052	7,775
	132,311	200,648

- 21 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

6.11) Financial income – Other

	06/30/2013		06/30/2012
Premiums on reverse repurchase agreements with the financial sector		55,156		97,698
Interests on loans for export prefinancing and financing		24,151		23,568
Forward foreign-currency transactions offset		14,445		11,041
Other				1,522
		93,752		133,829

6.12) Financial expense – Other

Turnover tax and municipal assessments	281,965	170,677
Premiums on repurchase agreements with the financial sector	1,777	1,298
Other	256	1,357
	283,998	173,332

6.13) Service-charge income - Other

Debit and credit card income	323,285	224,441
Rental of safe deposit boxes	33,818	29,806
Service commissions – Joint ventures (see Note 2.5.)	24,718	44,490
Other	111,343	83,091
	493,164	381,828

6.14) Service-charge expense - Other

Debit and credit card expenses	150,383	121,770
Turnover tax and municipal assessments	66,631	40,504
Commissions paid to lending agents	60,110	25,137
Other	16,599	9,299
	293,723	196,710

6.15) Administrative expenses – Other operating expenses

Security services	78,083	50,375
Maintenance, conservation and repair expenses	77,281	52,726
Electric power and communications	43,572	38,202
Leases	32,638	26,550
Stationery and office supplies	7,825	6,683
Insurance	7,408	5,899
	246,807	180,435

6.16) Other income – Other

Other adjustments and interest on other receivables	6,143	6,070
Services provided to Banco del Tucumán S.A.	4,358	4,409
Gain on sale of bank premises and equipment, and other assets	3,980	5,849
Other	36,212	24,412
	50,693	40,740

- 22 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

6.17) Other expense – Other

	06/30/2013		06/30/2012
Donations		7,300		5,057
Turnover tax		1,954		1,379
Other		19,659		7,490
		28,913		13,926

7. RESTRICTED ASSETS

As of June 30, 2013 and December 31, 2012 the following Bank’s assets are restricted:

Item	06/30/2013		12/31/2012
Government and private securities
• Argentine Government bond in Argentine pesos at private Badlar + 275 basics points, maturing in 2014, used as security in favor of SEDESA (1)		89,270		88,984
• Argentine government bond in Argentine pesos at private Badlar + 275 basics points, maturing in 2014, securing the role of custodian of FGS (sustainability guarantee fund) investments		51,595		35,768
• Secured Bonds under Presidential Decree No. 1,579/02 as security for a loan received from Banco de Inversión y Comercio Exterior S.A. (BICE)		32,988		35,906
• Argentine Government bond in Argentine pesos at private Badlar + 275 basics points, maturing in 2014, for the performance of forward foreign currency trading transactions		30,384		5,322
• Other government and private securities		13,228		13,830
Subtotal government and private securities		217,465		179,810
Loans
• Guaranteed Loans under Presidential Decree No. 1,387/01 – Global 17 at a variable rate provided as guarantee in favor of the Central Bank in relation to the auctions of advances intended for the production sector under the Bicentennial Production Financing Program		41,450		37,664
Subtotal Loans		41,450		37,664

- 23 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

Item	06/30/2013		12/31/2012
Other receivables from financial intermediation
•    Special guarantee checking accounts opened in Central Bank for transactions related to the electronic clearing houses and similar entities		552,512		461,630
•     Interests resulting in contributions made in the Bank´s capacity by contributory partner of the following venture funds: (2)
-    Risk Fund of Compañía General de Avales SGR (mutual guarantee association), formerly Macroaval SGR, with an original contribution of 5,000 made on December 28, 2011		5,319		5,460
-    Risk Fund of Garantizar SGR, with an original contribution of 20,000 made on December 13, 2012		20,630		20,000
-    Risk Fund of Los Grobo SGR, with an original contribution of 20,000 made on December 12, 2012		20,507		20,000
Subtotal other receivables from financial intermediation		598,968		507,090
Other receivables
•    Security deposits related to credit card transactions		98,756		46,080
•    Other security deposits		4,874		5,858
Subtotal other receivables		103,630		51,938
Total		961,513		776,502

(1) As replacement for the preferred shares of former Nuevo Banco Bisel S.A. to secure to SEDESA the price payment and the fulfillment of all the obligations assumed in the purchase and sale agreement dated May 28, 2007, maturing on August 11, 2021.

(2) In order to keep tax benefits related to these contributions, they must be maintained between two and three years from the date they were made.

- 24 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

8. TRANSACTIONS WITH RELATED PARTIES

The receivables/payables and income (loss) from transactions performed with subsidiaries and affiliates are as follows:

	Banco del Tucumán S.A.		Banco Privado de Inversiones S.A.		Macro Bank Limited		Macro Securities S.A.  Sociedad  de Bolsa		Other subsidiaries and related parties (1)		06/30/2013		12/31/2012
ASSETS
Cash						3,937						3,937		3,692
Loans										202,320		202,320		138,484
Other receivables from financial intermediation								46,428		173,402		219,830		111,173
Receivables from financial leases								6,932		1,607		8,539		8,479
Other receivables		534						2,216		1,309		4,059
Items pending allocation		9										9		39
Total assets		543				3,937		55,576		378,638		438,694		261,867
LIABILITIES
Deposits				35		1,039		8,228		475,561		484,863		497,495
Other liabilities from financial intermediation				110				41,426				41,536		2,034
Total liabilities				145		1,039		49,654		475,561		526,399		499,529
MEMORANDUM ACCOUNTS
Debit-balance accounts – Contingent														64,596
Debit-balance accounts – Control						1,614				286,101		287,715		289,997
Credit-balance accounts – Contingent		923								971		1,894		3,136
Credit-balance accounts – Derivates										2,808		2,808		2,060

- 25 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

	Banco del Tucumán S.A.			Banco Privado de Inversiones S.A.			Macro Bank Limited		Macro Securities S.A.  Sociedad  de Bolsa		Other subsidiaries and related parties (1)			06/30/2013			06/30/2012
INCOME (EXPENSE)
Financial income										278		10,804			11,082			9,978
Financial expense		(1,551	)									(4,901	)		(6,452	)		(7,244	)
Service-charge income		14						1		1,636		907			2,558			2,142
Service-charge expense																		(225	)
Administrative expenses		(6	)		(611	)									(617	)		(532	)
Other income		4,777													4,777			4,479
Total income / (loss)		3,234			(611	)		1		1,914		6,810			11,348			8,598

(1) Includes amounts generated by the Bank and its subsidiaries with their related parties regarding transactions performed in the normal course of business, under normal market conditions, in terms of interest rates and prices, as well as guarantees required.

9. CAPITAL STOCK

The Bank’s subscribed and paid-in capital as of June 30, 2013, amounted to 594,485. It has remained unchanged for the last three years.

Moreover, during fiscal year 2011, the Bank acquired a total of 10,000,000 proprietary registered Class B shares of common stock for a total amount of 92,919.

10. CORPORATE BONDS ISSUANCE

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

Corporate Bonds	Original value			Residual value as of 06/30/2013		06/30/2013		12/31/2012
Subordinated – Class 1	USD	150,000,000	(a.1)	USD	150,000,000		810,405		740,192
Non-subordinated – Class 2	USD	150,000,000	(a.2)	USD	106,395,000		593,115		541,705
Total							1,403,520		1,281,897

On September 1, 2006, June 4, 2007 and April 26, 2011, 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 1,000,000,000 (one billion 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.

- 26 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

a.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” 4576.

- The Notes fall due within a 30-year term, with full amortization upon maturity (December 18, 2036), with full redemption option in 10 years since 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 establish by Communiqué “A” 4576, the interest rate payable can be increased only once over the life of the instrument and subsequent to the 10-year term since their issuance.

- They do not include covenants that change the subordination order.

- No interest on the Notes will neither fall due and payable if: (i) payments of such interest is the distributable amount, as defined in the pricing supplement dated November 23, 2006; (ii) there is a general prohibition by the Central Bank; (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 Central Bank for illiquidity under Article 17 of Central Bank Charter; (v) the Bank is not in compliance with or have failed to comply in a timely basis with reporting obligations to the Central Bank; and/or (vi) the Bank is not in compliance with minimum capital requirements (both on an individual and consolidated basis levels) or with minimum cash reserves (on average).

- 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” 4576 (see Note 20.a.3)).

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

a.2) On January 29, 2007, the Bank issued 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.

On August 16, 2007, the Securities and Exchange Commission (SEC) authorized the abovementioned exchange offers mentioned in a.1) and a.2).

11. DERIVATIVE FINANCIAL INSTRUMENTS

The Bank performs transactions that involve derivative financial instruments, as established by Central Bank rules and Argentine professional accounting standards effective in Buenos Aires City. Such instruments mainly relate to:

- Forward transactions involving securities and foreign currency.

- Forward transactions without delivery of the underlying asset.

- Options.

- Interest rate swaps.

Such transactions were valued as explained in Notes 3.5.h.1), 3.5.h.2) and 3.5.m).

- 27 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

(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 June 30, 2013 and December 31, 2012 are as follows:

Transaction	06/30/2013			12/31/2012
Net position of repurchase agreements		(1,819,212	)		(324,454	)
Net asset position of forward transactions without delivery of the underlying asset (a)		(5,884	)		25,253
Interest rate swaps (b)		70,000			85,000
Position of put options sold on BODEN 2013 coupons (c)					14,713
Position of put options taken (d)		60,137			56,045

Net income (loss) resulting from these transactions for the six-month periods ended June 30, 2013, and December 31, 2012, amount to income (loss):

Transaction	06/30/2013			06/30/2012
Premiums on reverse repurchase agreements		55,156			97,709
Premiums on repurchase agreements		(1,777	)		(1,298	)
Interest rate swap		(255	)		154
Forward foreign-currency transactions offset		14,445			11,041
Total		67,569			107,606

(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.

(b) As of June 30, 2013, and 2012, this is related to swap agreements entered into with the Central Bank entitling the Bank to collect on 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 70,000 and 85,000, respectively. In the event that the difference between the rates is negative, the Bank shall be required to pay the difference. The agreements will expire between September 30, 2013, and October 31, 2014. The purpose of these transactions is to place medium- and long-term loans in accordance with Central Bank Communiqué “A” 4776, as supplemented.

(c) Related to put options on the BODEN 2013 coupons provided in Presidential Decree No. 1,836/02, as supplemented, which were received by the holders of rescheduled deposits through the exchanges implemented by the Argentine Government. On April 30, 2013 the BODEN 2013 coupons matured, as per the terms of issue.

(d) Related to the following options:

d.1) As of June 30, 2013, this is related to a put option taken of trust securities to be issued by the financial trust Best Consumer Finance Series XXIX, which may be received by the Bank as payment of the assignment value established in the agreement executed on June 26, 2013, with Banco de Servicios y Transacciones S.A. The initial price was set at 60,000, which will accrue a minimum applicable rate of 21%, 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. The Bank has not exercised the option as of the date of these financial statements.

- 28 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

d.2) As of December 31, 2012, this is related to a put option taken of trust securities to be issued by the financial trust Best Consumer Finance Series XXVI and, may be received by the Bank as payment of the assignment value established in the agreement executed on November 28, 2012, with Banco de Servicios y Transacciones S.A. The initial price was set at 55,000, which will accrue a minimum applicable rate of 21%, 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. The Bank has not exercised the option as of the date of these financial statements.

12. PORTFOLIO MANAGEMENT

As of June 30, 2013, and December 31, 2012, the Bank manages the following portfolios:

	Managed portfolio as of
Item	06/30/2013		12/31/2012
• On March 1, 1996, former Banco de Salta S.A. (which was absorbed by the Bank) and the Salta provincial Government entered into an Agreement to Manage the Loan Portfolio of Banco Provincial de Salta (in liquidation) related to the nonfinancial private sector.		14,046		14,053
• On August 11, 1998, former Banco de Jujuy S.A. (which was absorbed by the Bank) and the Jujuy provincial Government entered into an agreement to manage the loan portfolio of the former Banco de la Provincia de Jujuy and to provide a monthly report on the tasks performed.		42,213		42,274
• 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.		101,265		89,477
• 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”.		75,222		77,767
• On June 30, 2006, the Bank and Macro Fiducia S.A. entered into a management and custody agreement regarding the “RETUC 1” trust loan portfolio.		58,118		58,085
• On November 22, 2012, the Bank (trustor) and Macro Fiducia S.A. (trustee), created the financial trust Fideicomiso Financiero Privado “SECANE”; in the trust agreement the trustor assumes the role of collection agent, administration and custodian.		90,793		93,566
• Other portfolios managed by the Bank.		93,733		83,369
Total		475,390		458,591

- 29 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

(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 June 30, 2013, the Bank, in its capacity as Depository Company, held in custody the interest in Mutual Funds subscribed by third parties and assets from the following mutual funds:

Fund	Shares of interest		Equity		Assets (1)
Pionero Pesos		466,058,137		268,732		343,053
Pionero Renta Ahorro		145,185,764		64,237		142,893
Pionero F F		294,964,834		149,493		297,538
Pionero Renta		210,912,917		45,379		203,257
Pionero Acciones		3,115,873		1,144		3,029
Pionero Renta Dólares		30,213		12
Pionero Empresas FCI Abierto PYMES		109,024		100		90
Pionero Consumo		101,575		100		100
Argenfunds Ahorro Pesos		170,727,264		143,962		170,807
Argenfunds Renta Privada		223,589,905		199,097		224,361

(1) 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 9.8289% equity interest therein, according to the percentages set forth in Central Bank Communiqué “B” 10539 of February 28, 2013.

This system shall cover the deposits (up to the amount of 120) in Argentine pesos and foreign currency with the participating institutions as checking accounts, savings accounts, certificates of deposit or any other modes determined by the Central Bank, as long as the requirements under Presidential Decree No. 540/95 and any others established by the enforcement agency, are met. On the other hand, Central Bank established that the deposits made by other financial institutions, those made by persons related to the Bank, and deposits of securities, among others, must be excluded from the deposit guarantee system.

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 June 30, 2013, and December 31, 2012, the amounts recorded in the Bank’s financial statements for holdings of certificates of participation (net of allowances for 223,832 as of both dates) and debt securities in financial trusts under “Other receivables from financial intermediation - Other not covered by debtor classification standards” were as follows:

Financial trust	06/30/2013		12/31/2012
Certificates of participation:
Frávega Créditos I and II (a)		14,707		50,977
TST & AF  (b)				57,731
Other		2,242		3,163
Subtotal certificates of participation		16,949		111,871

- 30 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

Financial trust	06/30/2013		12/31/2012
Debt securities:
Underwriting agreements  (c)		220,130		238,182
Loma Blanca  (d)		86,183		76,350
Other (e)		91,768		107,223
Subtotal debt securities		398,081		421,755
Total		415,030		533,626

(a) Frávega Créditos I and II Trust

On June 28, and December 20, 2012, Frávega S.A.C.I. e I, as trustor, collection agent and beneficiary, Macro Fiducia S.A. as trustee and Banco Sáenz S.A. as the loan portfolio manager, entered into two trust agreements called Frávega Créditos I and Frávega Créditos II, respectively, whereby each trust issued Class “A” and Class “B” certificates of participation.

The purpose of both trusts is to pay the certificates of participation in full once the receivables and promissory notes transferred by the trustor have been collected. Upon expiration of the trusts, the holders of Class “B” certificates of participation will receive the remaining receivables.

As of June 30, 2013, the Bank is the direct beneficiary of 100% of the Class “A” certificates of participation issued by the trusts Frávega Créditos I and Frávega Créditos II.

According to the latest accounting information available as of the date of issuance of these financial statements, the corpus assets totaled around 58,281.

(b) TST & AF Trust

On July 14, 1999, Austral Financial LLC, in its capacity as trustor, and First Trust of New York National Association, in its capacity as trustee, entered into a trust agreement known as TST & AF Financial Trust. On November 29, 2005, the trustor, the trustee and the beneficiaries (Austral Financial LLC, Proa del Puerto S.A. and Macro Bank Limited) agreed to replace the trustee by Macro Fiducia S.A.

The purpose of the trust is to develop a real estate project in Puerto Madero and subsequent sale thereof to settle the certificates of participation. Therefore, it will terminate 30 years after its execution date and/or the date in which the project is paid in full, sold or otherwise fully disposed of. In addition, as of December 31, 2012, the Bank was the direct beneficiary of 53.34% of the certificates of participation issued by the TST & AF Trust (see also Note 7.1.a) to the consolidated financial statements).

On May 15, 2013, the Trust redeemed the certificates of participation held by the Bank, which received property and cash as payment. This transaction did not materially impact in the income statement.

(c) Underwriting agreements

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 (Consubond, Accicom and Pvcred). The assets managed for these trusts are mainly related to securitizations of consumer loans. 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 compensation (“underwriting Price”). If after making the best efforts, such trust securities cannot be placed, the Bank (“Underwriter”) will retain the securities subject to underwriting.

(d) Fideicomiso Loma Blanca

On December 6, 2011, Isolux Ingeniería S.A. and Isolux Corsán Argentina S.A. (trustors) and Nación Fideicomisos S.A. (trustee), set up the trust called “Fideicomiso Financiero Loma Blanca Serie I”.

The purpose of the trust consists on the set-up, start-up, operation and maintenance of all four awarded wind farms, located in the Municipality of Trelew, Province of Chubut.

- 31 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

As of the date of issuance of these financial statements, the Class A debt securities acquired by the Bank account for 14% of the total trust issues, The final amortization of such debt securities will operate on March 16, 2016.

According to the latest accounting information available as of the date of issuance of these financial statements, the corpus assets totaled around 591,035.

(e) Other

It includes, among others, the following trusts:

i) Trust created by Presidential Decree 976/01

The trust manages the collection of certain taxes for the purpose of developing infrastructure projects.

ii) Chubut oil & gas royalties Trust

The trust manages assigned receivables and rights on oil & gas royalties for the purpose of financing production projects, infrastructure works in the Province of Chubut and financial investments aimed at increasing the state’s interest in the energy sector.

iii) TATSA (formerly SAETA)

It manages the credit transferred by the trustor, resulting from the sale agreement of passenger transport units with the purpose of financing their manufacturing. As of June 30, 2013, the Bank is a direct beneficiary of 100% of the debt securities and certificates of participation included in “Others”, issued by the trust.

iv) Galtrust I financial Trust

It manages investments in federal government securities for the purpose of settling the securities issued by the trust.

Additionally, Note 7.1. to the consolidated financial statements include a list of the holdings for investment held by the Bank´s subsidiaries.

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 that were originally used to finance the loans are obtained earlier.

As of June 30, 2013, and December 31, 2012, considering the latest available accounting information as of the date of the financial statements, the assets managed through Macro Fiducia S.A. (subsidiary) of this type of trusts total 7,595 and 7,147, respectively.

Additionally, Note 7.2. to the consolidated financial statements includes a list of those trusts with similar purposes to those included in this note, but created with corpus assets transferred by the Bank’s subsidiaries.

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 receive 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.

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

- 32 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

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 June 30, 2013, and December 31, 2012, considering the latest available accounting information as of the date of the financial statements, the assets managed by the Bank, Macro Fiducia S.A. and Banco del Tucumán S.A. (subsidiaries) amount to 667,455 and 667,866, respectively.

15.4. Trusts in which the Bank acts as trustee (administration)

The Bank performs management duties of the corpus assets directly according to the agreements, performing only 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:

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

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

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

As of June 30, 2013, and December 31, 2012, considering the latest available accounting information as of the date of the financial statements, the assets managed by the Bank amount to 490,949 and 400,026, respectively.

Additionally, Note 7.3. to the consolidated financial statements includes a list of those trusts with similar purposes to those included in this note, but managed by the Bank’s subsidiaries.

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. MINIMUM CASH AND MINIMUM CAPITAL REQUIREMENTS

17.1. Accounts identifying compliance with the minimum cash requirements:

The items computed by the Bank to constitute the minimum cash requirement effective for June 2013 are listed below, indicating the balances as of month-end of the related accounts:

Item	06/30/2013
Cash
Amounts in Central Bank accounts		4,793,018
Other receivables from financial intermediation
Special guarantee accounts with the Central Bank		552,512
Total		5,345,530

- 33 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

17.2. Minimum capital requirements:

As the table disclosed, the minimum capital requirements measured on an individual basis, effective for June 2013, along with its computable capital as of the end of that month:

Item	06/30/2013
Minimum capital requirement		3,871,260
Computable capital		6,450,053
Excess amount		2,578,793

18. TAX CLAIMS

The AFIP (Federal Public Revenue Agency) and provincial tax authorities have reviewed the tax returns filed by the Bank related to income tax, minimum presumed income tax and other taxes (mainly turnover tax) for the fiscal years prior to 2005.

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

a) 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 matter under discussion that as yet has not been resolved and on which the regulatory agency bases its position is the impossibility of deducting credits that have collateral security, an issue that has been addressed by the Federal Administrative Tax Court and the Argentine Supreme Court in similar cases, which have issued resolutions that are favorable to the Bank’s position.

b) The Buenos Aires City Tax Authorities attributed a turnover tax difference to Banco Macro S.A. for tax period 2002, in relation to the treatment of the compensation bond, over which a precautionary measure was issued in 2009 in favor of the Bank.

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

The Bank’s Management and its legal and tax advisors believe 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 AND CAPITAL SYSTEM AND THE BANK

The financial and capital markets

The international macroeconomic context generates a certain degree of uncertainty with regard to how it will evolve in the future, due to the shrinking growth levels, the volatility of financial assets and of the exchange market, and the higher unemployment rates, among other matters.

Locally, over the past few years the economy has reflected, on average, sustained growth and the main economic and financial indicators point to a situation that differs from the one mentioned above, while displaying volatility in financial asset prices and increased interest rates. Also, there are some important variations in prices of other relevant economic variables, such as salary costs, the prices of major raw materials and the exchange rate, which may affect the interpretation of accounting information and financial position and income of companies in general. From a regulatory standpoint, regulations have increased and, in relation to the foreign exchange market in particular, since October 2011 the Government has imposed certain restrictions on access to the free exchange market (MULC), which is the only market established by Argentine regulations for buying and selling foreign currency. Finally, on December 27, 2012, a new Capital Markets Law was enforced, regulated by Presidential Decree No. 1,023/2013 dated July 29, 2013, leaving the CNV as enforcement authority, with the ability to issue additional rules and clarifications that are necessary to implement the provisions of the Law.

- 34 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

Given all of the above, the Bank’s Management permanently monitors the changes in the abovementioned situations in the international and local markets, to determine the possible actions to be taken and to identify the potential effects on its assets and financial situation that may need to be reflected in the financial statements for future periods.

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 Central Bank 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.

Additionally, as of June 30, 2013 and December 31, 2012, the Bank recorded the additional payables related to such regulation under the “Provisions” account in the amount of 11,739 and 10,719 at the stand-alone level, respectively, and a total of 18,824 and 17,112 at consolidated level, respectively. The Bank´s Management believes that there would be no additional significant effects, other than those recognized in accounts that could derive from the final outcome of such actions.

20. RESTRICTION ON EARNINGS DISTRIBUTION

a) According to Central Bank provisions, 20% of income for the year plus/minus prior-year adjustments and less accumulated losses as of the prior year-end, if any, should be allocated to the legal reserve.

b) 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).

c) Through Communiqué “A” 5072, the Central Bank established the general procedure to admit the distribution of earnings. According to that procedure, earnings may only be distributed upon express authorization by the Central Bank, provided there are no records of the Bank having received financial aid from the Central Bank due to illiquidity or shortages in payments of minimum capital, among other previous conditions listed in the communiqué.

Therefore, earnings may only be distributed as long as the Bank has income after deducting, on a nonaccounting basis, from unappropriated retained earnings and the voluntary reserve for future distribution of earnings, the amounts of the legal and statutory reserves which are mandatory, the positive net difference between the book value and market value or present value reported by the Central Bank, as the case may be, of government debt securities and/or instruments issued by the Central Bank not valued at market price, among other items.

Lastly, the maximum amount to be distributed cannot exceed the excess payments of the required capital minimum considering, for this purpose only, an increasing adjustment of 75% of the required amount and deducting the abovementioned adjustments.

- 35 -

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

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

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

21. FINANCIAL STATEMENTS PUBLICATION

Under Communiqué “A” 760, the Central Bank 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 Central Bank and, except for the effects of the matters mentioned in Note 5, in accordance with Argentine professional accounting standards effective in the City of Buenos Aires. Certain accounting practices applied by the Bank may not conform with accounting principles generally accepted in other countries.

Jorge H. Brito

Chairperson

- 36 -

EXHIBIT A

DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF JUNE 30, 2013 AND DECEMBER, 31 2012

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

(Figures stated in thousands of pesos)

	06/30/2013				12/31/2012		06/30/2013
Name	Market value or Present Value		Book balance		Book balance		Position without options (1)		Options	Final position
GOVERNMENT AND PRIVATE SECURITIES
GOVERNMENT SECURITIES
Holdings booked at market value
- Local
Federal government bonds in pesos at Badlar Private + 2.75% - Maturity: 2014				895,133		566,583		890,697			890,697
Secured bonds under Presidential Decree No. 1,579/02 at 2.00%				273,792		69,678		270,817			270,817
Federal government bonds in pesos at Badlar Private + 3.00% - Maturity: 2015				182,466		119,993		194,710			194,710
Consolidation bonds in pesos - 7° serie - Maturity: 01-04-2016				54,424				56,047			56,047
Federal government bonds in US dollars at 7.00% - Maturity: 2015				41,735		10,470		516			516
Consolidation bonds in pesos - 6° serie - Maturity: 2024 at 2.00%				34,925		38,653		19,358			19,358
Discount bonds denominated in pesos at 5.83% - Maturity: 2033				27,755		62,879		31,215			31,215
Debt securities Series II Fixed rate for 360-day term secured in US dollars – Maturity: 11-14-2013				27,582				27,582			27,582
Consolidation bonds in pesos - 8° serie				21,748		36		23,470			23,470
Consolidation bonds in pesos - 4° serie at 2.00%				21,486		217		15,373			15,373
Other				46,708		87,562		32,732			32,732
Subtotal holdings booked at market value				1,627,754		956,071		1,562,517			1,562,517
Government securities under repo transactions with Central Bank of Argentina
- Local
Federal government bonds in US dollars at 7% - Maturity: 2017		54,782		54,782
Subtotal government securities under repo transactiones with Central Bank of Argentina				54,782
Holdings booked at amortized cost
- Local
Debt Securities of the Province of Neuquén Series 1 Class I in US dollars - Maturity: 06-12-2016		159,757		159,757				159,757			159,757
Secured Province of Neuquén Treasury Bills Class 1 in US dollars – Maturity: 05-23-2014		110,062		106,185		146,341		106,185			106,185
Province of Buenos Aires Treasury Bills in pesos – Maturity: 05-29-2014		101,701		101,701				101,701			101,701
Debt Securities of the Province of Mendoza Class 1 in US dollars - Maturity: 05-28-2016		64,080		64,080				64,080			64,080
Province of Entre Ríos Treasury Bills in pesos – Maturity: 10-24-2013		25,099		25,099				25,099			25,099
Province of Chubut Treasury Bills Class 2 Serie VII in pesos – Maturity: 10-25-2013		24,435		24,435				24,435			24,435
Province of Chubut Treasury Bills Class 3 Serie VI in pesos – Maturity: 09-24-2013		15,076		15,076				15,076			15,076
Province of Chubut Treasury Bills Class 2 Serie VI in pesos – Maturity: 08-26-2013		15,066		15,066				15,066			15,066
Province of Buenos Aires Treasury Bills in pesos – Maturity: 06-06-2013						51,525
Province of Buenos Aires Treasury Bills in pesos – Maturity: 01-31-2013						51,819
Debt Securities of the Province of Entre Ríos Series II in pesos Class A - Maturity: 03-26-2013						25,757
Debt securities Series II Fixed rate for 360-day term secured in US dollars – Maturity: 11-14-2013						25,010
Province of Chubut Treasury Bills Series III in pesos – Maturity: 05-24-2013						20,396
Province of Chaco Treasury Bills in US dollars - Maturity: 03-14-2013						19,526
Debt Securities of the Province of Entre Ríos Series II in pesos Class A - Maturity: 02-26-2013						5,053
Subtotal Holdings booked at amortized cost				511,399		345,427		511,399			511,399

Jorge H. Brito

Chairperson

- 37 -

EXHIBIT A

(Continued)

DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF JUNE 30, 2013 AND DECEMBER, 31 2012

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

(Figures stated in thousands of pesos)

	06/30/2013			12/31/2012		06/30/2013
Name	Market value or Present Value	Book balance		Book Balance		Position without options (1)	Options	Final position
INSTRUMENTS ISSUED BY THE CENTRAL BANK OF ARGENTINA
Central Bank of Argentina Internal Bills - Under Repo Transactions
Central Bank of Argentina Internal Bills in pesos – Maturity: 10-30-2013			1,453,294
Central Bank of Argentina Internal Bills in pesos – Maturity: 01-28-2015			278,525
Central Bank of Argentina Internal Bills in pesos – Maturity: 09-25-2013					48,942
Central Bank of Argentina Internal Bills in pesos – Maturity: 01-30-2013					43,529
Central Bank of Argentina Internal Bills in pesos – Maturity: 03-06-2013					38,972
Subtotal Central Bank of Argentina Internal Bills - Under repo Transactions			1,731,819		131,443
Central Bank of Argentina Internal Bills at amortized cost - Own Portfolio
Central Bank of Argentina Internal Bills in pesos – Maturity: 02-27-2013					11,038
Central Bank of Argentina Internal Bills in pesos – Maturity: 02-06-2013					8,988
Subtotal Central Bank of Argentina Notes at amortized cost - Own portfolio					20,026
Central Bank of Argentina notes at market value - Own portfolio
Central Bank of Argentina Internal Notes in pesos with variable coupon (Badlar rate) + 2.5% - Maturity: 05-15-2013					26,320
Subtotal Central Bank of Argentina Notes at market value - Own portfolio					26,320
Subtotal Instruments issued by the Central Bank of Argentina			1,731,819		177,789

Jorge H. Brito

Chairperson

- 38 -

EXHIBIT A

(Continued)

DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF JUNE 30, 2013 AND DECEMBER, 31 2012

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

(Figures stated in thousands of pesos)

	06/30/2013			12/31/2012		06/30/2013
Name	Market value or Present Value	Book balance		Book balance		Position without options (1)		Options	Final position
INSTRUMENTS ISSUED BY THE CENTRAL BANK OF ARGENTINA (Continued)			1,731,819		177,789
Central Bank of Argentina Notes - Under Repo Transactions
Central Bank of Argentina Internal Notes in pesos with variable coupon (Badlar rate) + 2.5% - Maturity: 05-15-2013					33,120
Central Bank of Argentina Internal Notes in pesos with variable coupon (Badlar rate) + 2.5% - Maturity: 01-23-2013					139,698
Subtotal Central Bank of Argentina Notes - Under repo Transactions					172,818
Central Bank of Argentina Notes at amortized cost - Own portfolio
Central Bank of Argentina Internal Notes in pesos with variable coupon (Badlar rate) + 2.5% – Maturity: 04-23-2013			17				17			17
Subtotal Central Bank of Argentina Notes at amortized cost - Own portfolio			17				17			17
Total Instruments issued by the Central Bank of Argentina			1,731,836		350,607		17			17
Total Government securities			3,925,771		1,652,105		2,073,933			2,073,933
Total government and private Securities			3,925,771		1,652,105		2,073,933			2,073,933

(1) Position without options as of June 30, 2013, includes “Holdings” plus: “loans” and “spot and forward purchases pending settlement", less “deposits” and "spot and forward sales pending settlement".

Jorge H. Brito

Chairperson

- 39 -

EXHIBIT B

FINANCING-FACILITIES CLASSIFICATION BY SITUATION

AND GUARANTEES RECEIVED

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

	06/30/2013		12/31/2012
COMMERCIAL
In normal situation		13,937,489		13,254,939
With Senior “A” guarantees and counter-guarantees		880,519		598,104
With Senior “B” guarantees and counter-guarantees		2,387,102		1,987,574
Without Senior guarantees or counter-guarantees		10,669,868		10,669,261
Subject to special monitoring		47,252		142,630
In observation
With Senior “B” guarantees and counter-guarantees		31,302		25,625
Without Senior guarantees or counter-guarantees		13,292		117,005
Under negotiation or refinancing agreement
With Senior “B” guarantees and counter-guarantees		2,177
Without Senior guarantees or counter-guarantees		481
Troubled		27,606		19,854
With Senior “B” guarantees and counter-guarantees		15,446		11,516
Without Senior guarantees or counter-guarantees		12,160		8,338
With high risk of insolvency		79,038		71,126
With Senior “A” guarantees and counter-guarantees		3,453
With Senior “B” guarantees and counter-guarantees		42,952		22,723
Without Senior guarantees or counter-guarantees		32,633		48,403
Irrecoverable		116,170		91,931
With Senior “A” guarantees and counter-guarantees		8,264
With Senior “B” guarantees and counter-guarantees		3,552		1,642
Without Senior guarantees or counter-guarantees		104,354		90,289
Subtotal Commercial		14,207,555		13,580,480

Jorge H. Brito

Chairperson

- 40 -

EXHIBIT B

(Continued)

FINANCING-FACILITIES CLASSIFICATION BY SITUATION

AND GUARANTEES RECEIVED

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

	06/30/2013		12/31/2012
CONSUMER
Performing		18,019,139		16,203,898
With Senior “A” guarantees and counter-guarantees		287,122		46,170
With Senior “B” guarantees and counter-guarantees		1,396,084		1,226,121
Without Senior guarantees or counter-guarantees		16,335,933		14,931,607
Low risk		282,806		265,584
With Senior “A” guarantees and counter-guarantees		2,213		157
With Senior “B” guarantees and counter-guarantees		8,937		12,499
Without Senior guarantees or counter-guarantees		271,656		252,928
Medium risk		189,679		169,675
With Senior “A” guarantees and counter-guarantees		49		9
With Senior “B” guarantees and counter-guarantees		3,807		4,520
Without Senior guarantees or counter-guarantees		185,823		165,146
High risk		126,445		108,676
With Senior “A” guarantees and counter-guarantees		225		69
With Senior “B” guarantees and counter-guarantees		5,160		4,407
Without Senior guarantees or counter-guarantees		121,060		104,200
Irrecoverable		99,537		88,172
With Senior “A” guarantees and counter-guarantees		1
With Senior “B” guarantees and counter-guarantees		8,112		7,063
Without Senior guarantees or counter-guarantees		91,424		81,109
Irrecoverable according to Central Bank's rules		136		134
Without Senior guarantees or counter-guarantees		136		134
Subtotal Consumer		18,717,742		16,836,139
Total		32,925,297		30,416,619

Jorge H. Brito

Chairperson

- 41 -

EXHIBIT C

FINANCING-FACILITIES CONCENTRATION

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

	06/30/2013				12/31/2012
Number of customers	Outstanding balance		% of total portfolio		Outstanding balance		% of total portfolio
10 largest customers		2,324,517		7.06		2,684,306		8.83
50 next largest customers		3,395,851		10.31		3,817,902		12.55
100 next largest customers		2,494,517		7.58		2,177,917		7.16
Other customers		24,710,412		75.05		21,736,494		71.46
Total		32,925,297		100.00		30,416,619		100.00

Jorge H. Brito

Chairperson

- 42 -

EXHIBIT D

BREAKDOWN BY FINANCING TERMS

AS OF JUNE 30, 2013

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

(Figures stated in thousands of pesos)

	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		16		29,264		15,047		5,973		49,002		152,715		373,347		625,364
Financial sector				302,272		28,468		9,305		82,880		19,415		91		442,431
Non-financial private sector and foreign residents		285,165		10,735,030		3,713,715		3,045,946		3,002,766		4,208,609		6,866,271		31,857,502
Total		285,181		11,066,566		3,757,230		3,061,224		3,134,648		4,380,739		7,239,709		32,925,297

Jorge H. Brito

Chairperson

- 43 -

EXHIBIT E

DETAIL OF INVESTMENTS IN OTHER COMPANIES

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

												Information on the issuer
	06/30/2013									12/31/2012		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		528,490		456,898	Financial institution		06-30-13		43,960		587,655		79,607
Banco Privado de Inversiones S.A.	Common		1		1		85,925,820		103,068		96,779	Financial institution		06-30-13		86,659		103,948		6,343
Macro Securities S.A. Sociedad de Bolsa	Common		1		1		12,776,680		47,248		39,367	Brokerage house		06-30-13		12,886		46,407		7,168
Macro Fiducia S.A	Common		1		1		6,475,143		11,972		12,555	Services		06-30-13		6,567		11,822		627
Macro Fondos SGFCI S.A.	Common		1		1		327,183		3,317		4,321	Mutual funds management		06-30-13		1,713		16,081		5,893
Foreign
Macro Bank Limited	Common		1		1		9,816,899		221,870		219,002	Financial institution		06-30-13		9,817		221,870		2,869
Subtotal subsidiaries									915,965		828,922
- Non-subsidiaries
In Argentina
Banelco S.A.	Common		1		1		1,071,716		2,500		2,500	Network administration		12-31-12		23,599		62,631		25,777
Provincanje S.A.	Common		1		1		600,000		603		603	Swap of securities		12-31-12		7,200		6,743		(962	)
Visa Argentina S.A.	Common		1		1		1,033,503		2,086		2,086	Business services		05-31-12		15,000		231,208		169,876
COEL S.A.	Common		1		1		86,236		138		124	Financial Services		12-31-12		1,000		3,106		500
ACH  S.A.	Common		1		1		110,500		196		196	Electronic information services		12-31-11		650		371		153
Mercado Abierto Electrónico  S.A.	Common		1,200		1		7		113		113	Electronic market		12-31-12		242		16,222		280
Argentina Clearing S.A.	Common		2,500		1		30		31		31	Services		07-31-12		10,250		33,071		8,307
Garantizar SGR	Common		1		1		10,000		10		10	Mutual guarantee association		12-31-12		13,419		562,680		4,079
Foreign
Banco Latinoamericano de Exportaciones S.A.	Common		10		1		7,303		424		388	Financial institution		12-31-12		1,376,746		4,064,026		457,466
Banco Latinoamericano de Exportaciones S.A.	Com "E"		1		1		3,729		316		288	Financial institution		12-31-12		1,376,746		4,064,026		457,466
Subtotal non-subsidiaries									6,417		6,339
Total in financial institutions, supplementary  and authorized activities									922,382		835,261
In other companies
- Non-subsidiaries
In Argentina
Other									1,464		1,424
Foreign
SWIFT S.A.	Common		1		1		5		27		24	Services		12-31-12		973,323		1,638,274		90,222
Total in other companies									1,491		1,448
Total (1)									923,873		836,709

(1) As of June 30, 2013 and December 31, 2012 the Bank booked allowances for impairment in value amounting for 352 and 311, respectively (see Exhibit J).

Jorge H. Brito

Chairperson

- 44 -

EXHIBIT F

MOVEMENT OF BANK PREMISES AND EQUIPMENT AND OTHER ASSETS

AS OF JUNE 30, 2013

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

(Figures stated in thousands of pesos)

	Net book value at									Depreciation for the period				Net book
Item	beginning of fiscal year		Increases		Transfers			Decreases		Years of useful life		Amount		value at end of period
Bank premises and equipment
Buildings		346,553		7,835		1,157			220		50		7,158		348,167
Furniture and facilities		79,856		7,544							10		5,914		81,486
Machinery and equipment		130,753		49,716							5		24,670		155,799
Vehicles		36,396		5,247							5		6,195		35,448
Total		593,558		70,342		1,157			220				43,937		620,900
Other assets
Works in progress		53,393		19,707		(1,157	)								71,943
Works of art		1,177							7						1,170
Prepayments for the purchase of assets		13,256		425											13,681
Foreclosed assets		5,195		727					259		50		40		5,623
Leased buildings		572									50		1		571
Stationery and office supplies		9,265		17,319					16,280						10,304
Other assets		180,515		31,481					11,062		50		515		200,419
Total		263,373		69,659		(1,157	)		27,608				556		303,711

Jorge H. Brito

Chairperson

- 45 -

EXHIBIT G

DETAIL OF INTANGIBLE ASSETS

AS OF JUNE 30, 2013

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

(Figures stated in thousands of pesos)

	Net book value at				Amortization for the period				Net book
Item	beginning of fiscal year		Increases		Years of useful life		Amount		value at end of the period
Goodwill (a)		72,841				10		7,026		65,815
Organization and development costs (b)		206,088		60,761		5		37,652		229,197
Total		278,929		60,761				44,678		295,012

(a) Related to the difference between the total price of the transaction and the value by the equity method of Banco del Tucumán S.A., former Nuevo Banco Bisel S.A. and Banco Privado de Inversiones S.A. acquisitions.

(b) Includes the cost of information technology projects hired from independent parties and leasehold improvements.

Jorge H. Brito

Chairperson

- 46 -

EXHIBIT H

DEPOSIT CONCENTRATION

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

	06/30/2013				12/31/2012
Number of customers	Outstanding balance		% of total portfolio		Outstanding balance		% of total portfolio
10 largest customers		5,862,442		16.71		5,962,115		18.35
50 next largest customers		3,855,916		10.99		3,563,116		10.97
100 next largest customers		1,760,948		5.02		1,804,974		5.55
Other customers		23,603,782		67.28		21,163,766		65.13
Total		35,083,088		100.00		32,493,971		100.00

Jorge H. Brito

Chairperson

- 47 -

EXHIBIT I

BREAKDOWN OF DEPOSITS, OTHER LIABILITIES FROM FINANCIAL INTERMEDIATION AND

SUBORDINATED CORPORATE BONDS

AS OF JUNE 30, 2013

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

(Figures stated in thousands of pesos)

	Terms remaining to maturity
Item	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
Deposits		28,616,648		5,442,607		834,318		184,322		3,262		1,931		35,083,088
Other liabilities from financial intermediation
Central Bank of Argentina		2,974				430		2,886		5,444		9,402		21,136
Banks and International Institutions		24,850		47,644		24,069								96,563
Non-subordinated corporate bonds				20,157								572,958		593,115
Financing received from Argentine financial institutions		40,971		1,306		1,976		5,269		12,079		38,725		100,326
Other		1,377,586		124,332		2,289		2,788		1,693		84,232		1,592,920
		1,446,381		193,439		28,764		10,943		19,216		705,317		2,404,060
Subordinated corporate bonds						2,625						807,780		810,405
Total		30,063,029		5,636,046		865,707		195,265		22,478		1,515,028		38,297,553

Jorge H. Brito

Chairperson

- 48 -

EXHIBIT J

CHANGES IN ALLOWANCES AND PROVISIONS

AS OF JUNE 30, 2013

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

(Figures stated in thousands of pesos)

	Balances at beginning of		Increases		Decreases				Balances at end of the
Breakdown	fiscal year		(1)		Charge off		Reversals		period
ALLOWANCES
Loans
For uncollectibility risk and impairment in value		828,838		287,403		212,027		21,576		882,638
Other receivables from financial intermediation
For uncollectibility risk and impairment in value		228,023		1,634		1,106				228,551
Receivables from financial leases
For uncollectibility risk		6,585		291				5		6,871
Investments in other companies
For impairment in value		311		41						352
Other receivables
For uncollectibility risk		8,744		475		2,231		295		6,693
Total allowances		1,072,501		289,844		215,364		21,876		1,125,105
PROVISIONS
Contingent commitments		5		5,528				2		5,531
For other contingencies		87,565		18,211		8,740				97,036
Difference from court deposits dollarization		10,719		1,020						11,739
Total Provisions		98,289		24,759		8,740		2		114,306

(1) See notes 3.5.f). and 3.5.o).

Jorge H. Brito

Chairperson

- 49 -

EXHIBIT K

CAPITAL STRUCTURE

AS OF JUNE 30, 2013

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

(Figures stated in thousands of pesos)

Shares					Capital stock
			Votes per		Issued
Class	Number		share		Outstanding		Own Portfolio (1)		Paid in
Registered common stock A		11,235,670		5		11,236				11,236
Registered common stock B		583,249,498		1		573,249		10,000		583,249
Total		594,485,168				584,485		10,000		594,485

(1) See Note 9.

Jorge H. Brito

Chairperson

- 50 -

EXHIBIT L

FOREIGN CURRENCY BALANCES

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

	06/30/2013																																12/31/2012
	Total Parent
	company and		Total per currency
	Argentine				Pound		Swiss		Danish		Canadian		Australian		Neozalen				Swedish		Norwegian		Uruguayans		Chilean
Items	branches		US dollar		sterling		franc		krone		dollar		dollar		dollar		Yen		krone		krone		peso		peso		Guarani		Real		Euro		Total
ASSETS
Cash		3,625,240		3,589,998		1,494		234		81		583		76		161		562		29		271		1,054		695		26		4,391		25,585		2,897,285
Government and private securities		480,186		480,186																														213,179
Loans		2,068,520		2,068,520																														2,430,839
Other receivables from financial intermediation		283,309		275,237		1,064																										7,008		170,176
Receivables from financial leases		27,391		27,391																														38,029
Investments in other companies		222,637		222,637																														219,702
Other receivables		165,358		165,358																														119,688
Items pending allocation		1,318		1,318																														1,025
Total		6,873,959		6,830,645		2,558		234		81		583		76		161		562		29		271		1,054		695		26		4,391		32,593		6,089,923
LIABILITIES
Deposits		2,197,354		2,197,354																														2,273,803
Other liabilities from financial intermediation		1,104,681		1,087,244		904		101				41						112														16,279		1,048,945
Other liabilities		2,535		2,535																														2,315
Subordinated corporate bonds		810,405		810,405																														740,192
Items pending allocation		14		14																														43
Total		4,114,989		4,097,552		904		101				41						112														16,279		4,065,298
MEMORANDUM ACCOUNTS
DEBIT-BALANCE ACCOUNTS
(except contra debit-balance accounts)
Contingent		1,210,001		1,210,001																														1,292,471
Control		730,299		698,999																												31,300		959,384
CREDIT-BALANCE ACCOUNTS
(except contra credit-balance accounts)
Contingent		119,727		119,027																												700		177,724

Jorge H. Brito

Chairperson

- 51 -

EXHIBIT N

CREDIT ASSISTANCE TO RELATED PARTIES

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

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

(Figures stated in thousands of pesos)

Item	06/30/2013 (1)		12/31/2012 (1)
Loans
Overdrafts		55,931		33,561
Without Senior guarantees or counter-guarantees		55,931		33,561
Documents		53
Without Senior guarantees or counter-guarantees		53
Mortgage and pledge		9,105		6,283
With Senior “B” guarantees and counter-guarantees		9,105		6,283
Personal		294		307
Without Senior guarantees or counter-guarantees		294		307
Credit cards		20,092		14,960
Without Senior guarantees or counter-guarantees		20,092		14,960
Other		31,504		33,933
Without Senior guarantees or counter-guarantees		31,504		33,933
Total loans		116,979		89,044
Other receivables from financial intermediation		744		451
Receivables from financial leases		8,600		8,602
Contingent Commitments		1,231		4,522
Investments in other companies		916,440		829,397
Total		1,043,994		932,016
Allowances / Provisions		1,415		1,133

(1) As of June 30, 2013 and December 31, 2012 all debtors are classified in performing situation.

Jorge H. Brito

Chairperson

- 52 -

EXHIBIT O

DERIVATIVE FINANCIAL INSTRUMENTS

AS OF JUNE 30, 2013

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

(Figures stated in thousands of pesos)

Originally

agreed

Residual

Weighted daily

Type of

Purpose of the transactions

Underlying

Type of

Negotiation environment

weighted monthly

weighted monthly

average term of settlement of

contract

performed

asset

settlement

or counter-party

average term

average term

differences

Amount

Intermediation

With delivery of

Over The Counter  - Residents

Options

- own account

Other

underlying asset

in Argentina - Non-financial sector

7

7

60,137

Intermediation

Argentine

With delivery of

MAE (over-the-counter

Repo transactions

- own account

government securities

underlying asset

electronic market)

1

1

1,837,690

Intermediation

Foreign

Daily settlement of

MAE (over-the-counter

Futures

- own account

currency

differences

electronic market)

5

3

1

1,533,177

Intermediation

Foreign

Maturity settlement

Over The Counter  - Residents

Forward

- own account

currency

of differences

in Argentina - Non-financial sector

5

4

30

153,481

Intermediation

MAE (over-the-counter

Swaps

- own account

Other

Other

electronic market)

57

11

30

70,000

Jorge H. Brito

Chairperson

- 53 -

CONSOLIDATED BALANCE SHEETS

(Section 33, Law No. 19,550)

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013			12/31/2012
ASSETS
A.   CASH
Cash on hand		2,142,206			2,794,916
Due from banks and correspondents
Central Bank of Argentina		5,458,406			6,543,996
Local Other		24,839			13,628
Foreign		697,307			694,200
Other		337			308
		8,323,095			10,047,048
B.    GOVERNMENT AND PRIVATE SECURITIES (Exhibit I)
Holdings booked at market value		2,145,963			1,357,022
Government securities under repo transactions with Central Bank of Argentina		54,782
Holdings booked at amortized cost		517,125			353,174
Instruments issued by the Central Bank of Argentina		2,322,131			612,889
Investments in listed private securities		2			19,993
		5,040,003			2,343,078
C.    LOANS
To the non-financial government sector		602,754			586,557
To the financial sector
Interfinancing - (granted call)		247,917			166,546
Other financing to Argentine financial institutions		191,197			130,612
Accrued interest, adjustments, foreign exchange and quoted price differences receivables		1,918			2,092
To the non-financial private sector and foreign residents
Overdrafts		4,487,602			4,280,640
Documents		3,635,856			3,651,390
Mortgage loans		1,896,890			1,508,463
Pledge loans		1,143,982			928,693
Personal loans		12,315,055			10,826,601
Credit cards		5,310,901			4,725,177
Other		4,635,824			4,808,641
Accrued interest, adjustments, foreign exchange and quoted price differences receivables		551,098			570,281
less:  Unearned discount		(107,702	)		(95,940	)
less:  Allowances (Note 4.)		(947,752	)		(887,156	)
		33,965,540			31,202,597

Jorge H. Brito

Chairperson

- 54 -

CONSOLIDATED BALANCE SHEETS

(Section 33, Law No. 19,550)

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013			12/31/2012
D.   OTHER RECEIVABLES FROM FINANCIAL INTERMEDIATION
Central Bank of Argentina		670,584			517,360
Amounts receivable from spot and forward sales pending settlement		2,482,811			697,854
Securities and foreign currency receivable from spot and forward purchases pending settlement		160,335			216,144
Unlisted corporate bonds		219,149			141,560
Receivables from forward transactions without delivery of underlying asset		2,377			12
Other receivables not covered by debtors classification standards		692,785			863,436
Other receivables covered by debtors classification standards		199,217			176,483
Accrued interest receivables covered by debtors classification standards		446			515
less:  Allowances (Note 4.)		(234,099	)		(233,123	)
		4,193,605			2,380,241
E.    RECEIVABLES FROM FINANCIAL LEASES
Receivables from financial leases		376,480			323,077
Accrued interest and adjustments		5,751			5,069
less:  Allowances (Note 4.)		(6,883	)		(6,599	)
		375,348			321,547
F.    INVESTMENTS IN OTHER COMPANIES
In financial institutions		742			676
Other		12,325			12,267
less:  Allowances (Note 4.)		(1,346	)		(1,379	)
		11,721			11,564
G.   OTHER RECEIVABLES
Receivables from sale of assets		5,779			6,195
Other		471,636			372,966
Accrued interest and adjustments receivable on from sale of assets		253			332
Other accrued interest and adjustments receivables		200			35
less:  Allowances (Note 4.)		(7,064	)		(9,282	)
		470,804			370,246
H.   BANK PREMISES AND EQUIPMENT, NET		687,759			654,002
I.    OTHER ASSETS		307,844			268,445
J.    INTANGIBLE ASSETS
Goodwill		65,815			72,841
Organization and development costs		239,713			215,690
		305,528			288,531
K. ITEMS PENDING ALLOCATION		5,345			6,766
TOTAL ASSETS		53,686,592			47,894,065

Jorge H. Brito

Chairperson

- 55 -

CONSOLIDATED BALANCE SHEETS

(Section 33, Law No. 19,550)

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

LIABILITIES	06/30/2013		12/31/2012
L.    DEPOSITS
From the non-financial government sector		8,549,670		8,318,383
From the financial sector		24,115		24,222
From the non-financial private sector and foreign residents
Checking accounts		7,145,826		6,716,911
Savings accounts		7,384,034		6,467,168
Time deposits		15,318,850		13,596,225
Investment accounts		142,635		149,325
Other		748,543		737,870
Accrued interest, adjustments, foreign exchange and quoted price differences payables		216,704		178,568
		39,530,377		36,188,672
M.  OTHER LIABILITIES FROM FINANCIAL INTERMEDIATION
Central Bank of Argentina
Other		21,225		21,725
Banks and International Institutions		95,049		273,968
Non-subordinated Corporate Bonds		572,958		523,176
Amounts payable for spot and forward purchases pending settlement		135,389		202,313
Securities and foreign currency to be delivered under spot and forward sales pending settlement		2,581,562		739,730
Financing received from Argentine financial institutions
Interfinancing (received call)		40,000		40,000
Other financing received from Argentine financial institutions		26,983		13,724
Accrued interest payables		73		52
Receivables from forward transactions without delivery of underlying asset		11
Other		1,660,655		1,917,546
Accrued interest, adjustments, foreign exchange and quoted price differences payables		54,941		52,724
		5,188,846		3,784,958
N.    OTHER LIABILITIES
Dividends payables		19
Fees		700		7,470
Other		844,172		783,232
		844,891		790,702
O.    PROVISIONS (Note 4.)		147,500		131,683
P.    SUBORDINATED CORPORATE BONDS		810,405		740,192
Q.    ITEMS PENDING ALLOCATION		3,069		7,408
MINORITY INTERESTS IN SUBSIDIARIES		59,366		51,355
TOTAL LIABILITIES		46,584,454		41,694,970
SHAREHOLDERS' EQUITY		7,102,138		6,199,095
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		53,686,592		47,894,065

Jorge H. Brito

Chairperson

- 56 -

CONSOLIDATED BALANCE SHEETS

(Section 33, Law No. 19,550)

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013		12/31/2012
MEMORANDUM ACCOUNTS
DEBIT-BALANCE ACCOUNTS		42,877,300		37,863,919
Contingent		10,572,031		9,176,324
Guarantees received		10,231,195		8,776,152
Other not covered by debtors classification standards		135		165
Contingent debit-balance contra accounts		340,701		400,007
Control		29,725,052		27,487,838
Receivables classified as irrecoverable		1,125,386		995,622
Other		28,169,616		25,994,575
Control debit-balance contra accounts		430,050		497,641
Derivatives		1,816,795		386,341
Notional value of put options taken		60,137		56,045
Notional value of forward transactions without delivery of underlying asset		840,387		127,918
Interest rate swap		70,000		85,000
Derivatives debit-balance contra accounts		846,271		117,378
Trust activity		763,422		813,416
Trust funds		763,422		813,416
CREDIT-BALANCE ACCOUNTS		42,877,300		37,863,919
Contingent		10,572,031		9,176,324
Credit lines granted (unused portion) covered by debtors classification standards				19,669
Other guarantees provided covered by debtors classification standards		126,402		129,140
Other guarantees provided not covered by debtors classification standards		152,941		153,762
Other covered by debtors classification standards		61,358		97,436
Contingent credit-balance contra accounts		10,231,330		8,776,317
Control		29,725,052		27,487,838
Checks to be credited		430,050		497,641
Control credit-balance contra accounts		29,295,002		26,990,197
Derivatives		1,816,795		386,341
Notional value of put options sold				14,713
Notional value of forward transactions without delivery of underlying asset		846,271		102,665
Derivatives credit-balance contra account		970,524		268,963
Trust activity		763,422		813,416
Trust activity credit-balance contra accounts		763,422		813,416

The accompanying notes 1 through 7 to the consolidated financial statements and Exhibit I are an integral part of these statements, which are part of the stand-alone financial statements of Banco Macro S.A. and should be read together with them.

Jorge H. Brito

Chairperson

- 57 -

CONSOLIDATED STATEMENTS OF INCOME

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013		06/30/2012
A.    FINANCIAL INCOME
Interest on cash and due from banks		121		74
Interest on loans to the financial sector		21,880		22,380
Interest on overdrafts		472,574		306,426
Interest on documents		276,347		195,449
Interest on mortgage loans		147,488		91,732
Interest on pledge loans		88,510		61,375
Interest on credit card loans		446,000		349,265
Interest on financial leases		32,253		30,977
Interest on other loans		2,173,402		1,633,172
Net income from government and private securities		132,660		218,413
Interest on other receivables from financial intermediation		1,655		399
Income from guaranteed loans - Presidential Decree No. 1,387/01		15,397		62
CER (Benchmark Stabilization Coefficient) adjustment		21,224		531
CVS (Salary Variation Coefficient) adjustment		345		143
Difference in quoted prices of gold and foreign currency		237,987		170,043
Other		108,640		138,303
		4,176,483		3,218,744
B.    FINANCIAL EXPENSE
Interest on checking accounts		190		126
Interest on savings accounts		20,592		15,471
Interest on time deposits		1,374,240		1,017,063
Interest on interfinancing received loans (received call)		1,999		2,229
Interest on other financing from financial institutions		7		9
Interest on other liabilities from financial intermediation		29,589		33,378
Interest on subordinated bonds		37,541		32,078
Other interest		1,653		1,383
CER adjustment		2,121		2,223
Contribution to Deposit Guarantee Fund		32,620		26,641
Other		312,294		193,895
		1,812,846		1,324,496
GROSS INTERMEDIATION MARGIN - GAIN		2,363,637		1,894,248
C.    PROVISION FOR LOAN LOSSES		242,420		300,112
D.    SERVICE-CHARGE INCOME
Related to lending transactions		87,585		52,803
Related to deposits		957,458		747,177
Other commissions		23,642		19,160
Other		544,796		421,203
		1,613,481		1,240,343

Jorge H. Brito

Chairperson

- 58 -

CONSOLIDATED STATEMENTS OF INCOME

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013			06/30/2012
E.     SERVICE-CHARGE EXPENSE
Commissions		95,412			68,340
Other		317,884			214,684
		413,296			283,024
F.    ADMINISTRATIVE EXPENSES
Personnel expenses		1,138,657			864,371
Directors' and statutory auditors' fees		46,771			29,127
Other professional fees		65,382			48,751
Advertising and publicity		41,248			41,974
Taxes		101,553			80,840
Depreciation of equipment		47,329			40,525
Amortization of organization costs		40,475			34,928
Other operating expenses		268,169			197,796
Other		131,417			113,732
		1,881,001			1,452,044
NET INCOME FROM FINANCIAL INTERMEDIATION - GAIN		1,440,401			1,099,411
G.    OTHER INCOME
Income from long-term investments		5,735			1,300
Penalty interest		20,679			18,082
Recovered loans and allowances reversed		60,995			28,328
CER adjustments		31			38
Others		50,072			40,341
		137,512			88,089
H.    OTHER EXPENSE
Penalty interest and charges payable to the Central Bank of Argentina		17			16
Charges for other receivables uncollectibility and other allowances		27,498			19,962
Amortization of differences related to court orders					9,954
Depreciation and loss of other assets		2,055			990
Goodwill amortization		7,026			7,026
Other		32,204			14,581
		68,800			52,529
MINORITY INTEREST IN SUBSIDIARIES		(8,030	)		(5,741	)
NET INCOME BEFORE INCOME TAX - GAIN		1,501,083			1,129,230
I.    INCOME TAX		582,806			473,317
NET INCOME FOR THE PERIOD - GAIN		918,277			655,913

The accompanying notes 1 through 7 to the consolidated financial statements and Exhibit I are an integral part of these financial statements, which are part of the stand-alone financial statements of Banco Macro S.A. and should be read together with them.

Jorge H. Brito

Chairperson

- 59 -

CONSOLIDATED STATEMENTS OF CASH FLOWS 

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013			06/30/2012
CHANGES IN CASH AND CASH EQUIVALENTS  (Note 1.5.)
Cash at beginning of the fiscal year		10,526,353			6,172,446
Cash at end of the period		8,815,013			7,556,737
Net (decrease) / increase in cash		(1,711,340	)		1,384,291
CAUSES OF CHANGES IN CASH
Operating activities
Net collections / (payments) for:
Government and private securities		(778,981	)		(523,931	)
Loans
To the financial sector		(119,599	)		47,080
To the non-financial government sector		19,735			19,659
To the non-financial private sector and foreign residents		751,025			(24,244	)
Other receivables from financial intermediation		(1,773,998	)		(450,553	)
Receivables from financial leases		(22,224	)		53,071
Deposits
From the financial sector		(108	)		2,252
From the non-financial government sector		26,192			2,277,874
From the non-financial private sector and foreign residents		1,887,103			1,345,266
Other liabilities from financial intermediation
Financing facilities from the financial sector (received calls)		(2,281	)		(163,297	)
Others (except liabilities included under financing activities)		(234,989	)		181,550
Collections related to service-charge income		1,600,098			1,227,423
Payments related to service-charge expenses		(391,631	)		(274,612	)
Administrative expenses paid		(1,795,380	)		(1,430,170	)
Payment of organization and development costs		(64,508	)		(54,517	)
Net collections from penalty interest		20,662			17,806
Differences from payments related to court orders		(3,887	)		(7,468	)
Collections of dividends from other companies					245
Other collections related to other income and losses		53,001			40,714
Net payments from other operating activities		(426,675	)		(572,348	)
Payment of income tax / minimum presumed income tax		(500,994	)		(191,047	)
Net cash flows (used in) / generated by operating activities		(1,757,439	)		1,520,753

Jorge H. Brito

Chairperson

- 60 -

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013			06/30/2012
Investing activities
Net payments for bank premises and equipment		(77,252	)		(69,844	)
Net payments for other assets		(39,348	)		(44,335	)
Other collections for investing activities		(2,385	)		3,678
Net cash flows used in investing activities		(118,985	)		(110,501	)
Financing activities
Net collections / (payments) for:
Non-subordinated corporate bonds		(22,532	)		(227,264	)
Central Bank of Argentina:
Other		(1,295	)		12,084
Banks and International Institutions		(182,635	)		6,773
Subordinated corporate bonds		(39,093	)		(32,899	)
Financing received from Argentine financial institutions		13,252			(1,351	)
Net cash flows used in financing activities		(232,303	)		(242,657	)
Financial income and holding gains on cash and cash equivalents		397,387			216,696
Net (decrease) / increase in cash		(1,711,340	)		1,384,291

The accompanying notes 1 through 7 to the consolidated financial statements and Exhibit I are an integral part of these financial statements, which are part of the stand-alone financial statements of Banco Macro S.A. and should be read together with them.

Jorge H. Brito

Chairperson

- 61 -

CONSOLIDATED STATEMENTS OF DEBTORS BY SITUATION

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013		12/31/2012
COMMERCIAL
In normal situation		14,405,159		13,636,481
With Senior “A” guarantees and counter-guarantees		882,290		599,868
With Senior “B” guarantees and counter-guarantees		2,438,343		2,017,671
Without Senior guarantees or counter-guarantees		11,084,526		11,018,942
Subject to special monitoring		47,252		142,630
In observation
With Senior “B” guarantees and counter-guarantees		31,302		25,625
Without Senior guarantees or counter-guarantees		13,292		117,005
Under negotiation or with refinancing agreements
With Senior “B” guarantees and counter-guarantees		2,177
Without Senior guarantees or counter-guarantees		481
Troubled		27,606		19,854
With Senior “B” guarantees and counter-guarantees		15,446		11,516
Without Senior guarantees or counter-guarantees		12,160		8,338
With high risk of insolvency		79,038		71,126
With Senior “A” guarantees and counter-guarantees		3,453
With Senior “B” guarantees and counter-guarantees		42,952		22,723
Without Senior guarantees or counter-guarantees		32,633		48,403
Irrecoverable		116,170		91,931
With Senior “A” guarantees and counter-guarantees		8,264
With Senior “B” guarantees and counter-guarantees		3,552		1,642
Without Senior guarantees or counter-guarantees		104,354		90,289
Subtotal Commercial		14,675,225		13,962,022

Jorge H. Brito

Chairperson

- 62 -

CONSOLIDATED STATEMENTS OF DEBTORS BY SITUATION

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013		12/31/2012
CONSUMER
Performing		20,474,070		18,342,839
With Senior “A” guarantees and counter-guarantees		287,628		50,594
With Senior “B” guarantees and counter-guarantees		1,471,875		1,283,516
Without Senior guarantees or counter-guarantees		18,714,567		17,008,729
Low risk		306,006		281,551
With Senior “A” guarantees and counter-guarantees		2,213		157
With Senior “B” guarantees and counter-guarantees		10,215		12,760
Without Senior guarantees or counter-guarantees		293,578		268,634
Medium risk		208,338		185,635
With Senior “A” guarantees and counter-guarantees		49		9
With Senior “B” guarantees and counter-guarantees		3,992		5,401
Without Senior guarantees or counter-guarantees		204,297		180,225
High risk		142,065		122,980
With Senior “A” guarantees and counter-guarantees		225		69
With Senior “B” guarantees and counter-guarantees		5,252		4,888
Without Senior guarantees or counter-guarantees		136,588		118,023
Irrecoverable		102,283		94,066
With Senior “A” guarantees and counter-guarantees		1
With Senior “B” guarantees and counter-guarantees		8,271		8,086
Without Senior guarantees or counter-guarantees		94,011		85,980
Irrecoverable according to Central Bank's rules		140		136
Without Senior guarantees or counter-guarantees		140		136
Subtotal Consumer		21,232,902		19,027,207
Total		35,908,127		32,989,229

The accompanying notes 1 through 7 to the consolidated financial statements and Exhibit I are an integral part of these statements, which are part of the stand-alone financial statements of Banco Macro S.A. and should be read together with them.

Jorge H. Brito

Chairperson

- 63 -

CONSOLIDATED BALANCE SHEETS

(Section 33, Law No. 19,550)

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

(Translation of financial statements originally issued in Spanish –

See note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

1. SIGNIFICANT ACCOUNTING POLICIES AND SUBSIDIARIES

1.1. Valuation and disclosure criteria:

According to the procedures provided by Central Bank rules - Communiqué “A” 2227, as supplemented - and FACPCE Technical Resolution No. 21, the Bank has consolidated line-by-line (i) its balance sheets as of June 30, 2013 and December 31, 2012 and (ii) the statements of income and cash flows for the six-month periods ended June 30, 2013 and 2012, with the financial statements of the subsidiaries listed in Note 1.2. as of each respective date.

The financial statements of the Bank’s subsidiaries have been prepared based on methods similar to those applied by the Bank to prepare its own financial statements, with respect to assets and liabilities valuation and disclosure, income (loss) measurement and restatement procedures, as explained in Note 3. to the Bank’s stand-alone financial statements.

The receivables/payables and transactions between the companies were eliminated in the consolidation process.

1.2. List of subsidiaries:

The table below shows the treatment given to the equity interests that Banco Macro S.A. holds in subsidiaries (percentage of equity interest and votes held directly or indirectly as of June 30, 2013):

	Banco Macro S.A.’s direct equity interest									Banco Macro S.A.’s direct and indirect equity interest
	Shares			Percentage of						Percentage of
Company	Type	Number		Capital stock			Possible votes			Capital stock			Possible votes
Banco del Tucumán S.A.	Common		395,341		89.932	%		89.932	%		89.932	%		89.932	%
Banco Privado de Inversiones S.A.  (a)	Common		85,925,820		99.154	%		99.154	%		99.994	%		100.00	%
Macro Bank Limited  (b)	Common		9,816,899		99.999	%		99.999	%		99.999	%		100.00	%
Macro Securities S.A. Sociedad de Bolsa  (c) and (d)	Common		12,776,680		99.154	%		99.154	%		99.921	%		99.932	%
Macro Fiducia S.A.	Common		6,475,143		98.605	%		98.605	%		98.605	%		98.605	%
Macro Fondos SGFCI S.A.	Common		327,183		19.100	%		19.100	%		99.936	%		100.00	%

(a) Banco Macro S.A.’s indirect equity interest derives from Macro Fiducia S.A. and Macro Securities S.A. Sociedad de Bolsa.

(b) Consolidated with Sud Asesores (ROU) S.A. (voting rights: 100%, equity interest: 42).

(c) Consolidated with Macro Fondos SGFCI S.A. (percentage of capital stock and votes 80.90%).

(d) The indirect equity interest of Banco Macro S.A. comes from Macro Fiducia S.A.

1.3. Methods of incorporating foreign subsidiaries:

The financial statements of Macro Bank Limited were adapted to Central Bank rules. Also, as they are originally stated in US dollars, they were translated into pesos following the procedures indicated below:

a) Assets and liabilities were converted at the reference exchange rate at the closing of transactions on the last business day of the six-month period ended June 30, 2013, and the year ended December 31, 2012.

b) Figures related to the owners’ contributions (capital stock, additional paid-in capital and irrevocable capital contributions) were translated applying the effective exchange rates as of the date on which such contributions were paid in.

- 64 -

CONSOLIDATED BALANCE SHEETS

(Section 33, Law No. 19,550)

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

(Translation of financial statements originally issued in Spanish –

See note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

c) Retained earnings were estimated by the difference between assets, liabilities and owners’ contributions, translated into pesos, as indicated above.

d) The amounts of the accounts in the statements of income for the six-month periods ended June 30, 2013, and 2012, were converted into pesos, as described in (a) above, In both cases, the difference between the sum of the amounts thus obtained and lump-sum income (loss) for each period (difference between retained earnings at beginning of fiscal year and retained earnings at period-end) was recorded in “Other income – Income from long-term investments” and “Financial income – Difference in quoted prices of gold and foreign currency” or “Financial expense – Difference in quoted prices of gold and foreign currency”, as the case may be, in the stand-alone and consolidated financial statements, respectively.

The main figures included in the consolidated financial statements arising from the figures of Macro Bank Limited (consolidated with Sud Asesores (ROU) S.A.) as of June 30, 2013, considering the translation process mentioned above are as follows:

	Macro Bank Limited
	In thousands of USD		In thousands of Ps.
Assets		241,283		1,299,358
Liabilities		200,083		1,077,488
Shareholders’ equity		41,200		221,870

1.4. The table below shows total assets, liabilities, shareholders’ equity and income (loss) of Banco Macro S.A. and each of  its subsidiaries as of June 30, 2013:

	Banco Macro S.A.		Banco del Tucumán S.A.		Banco Privado de Inversiones   S.A.		Macro Bank Limited (1)		Other subsidiaries (2)		Eliminations		Banco Macro S.A. (consolidated)
Assets		48,341,245		4,812,241		109,440		1,299,358		112,929		988,621		53,686,592
Liabilities		41,239,107		4,224,586		5,492		1,077,488		53,141		15,359		46,584,454
Shareholders’ equity		7,102,138		587,655		103,948		221,870		59,788		973,262		7,102,138
Income		918,277		79,607		6,343		2,869		8,680		97,499		918,277

(1) Figures related to Macro Bank Limited consolidated with Sud Asesores (ROU) S.A.

(2) Figures related to the subsidiaries Macro Securities S.A. Sociedad de Bolsa, (consolidated with Macro Fondos Sociedad Gerente de Fondos Comunes de Inversión S.A.) and Macro Fiducia S.A.

- 65 -

CONSOLIDATED BALANCE SHEETS

(Section 33, Law No. 19,550)

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

(Translation of financial statements originally issued in Spanish –

See note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

1.5. Statement of cash flows and cash equivalents

The Bank and its subsidiaries consider “Cash and cash equivalents” to be the Cash account and Government and private securities which mature less than 90 days since their date of acquisition, Below is a breakdown of the reconciliation of the “Cash” item in the consolidated statement of cash flows with the related consolidated balance sheets accounts:

	06/30/2013		12/31/2012		06/30/2012
Cash		8,323,095		10,047,048		7,221,033
Government and private securities
Holdings booked at market value		468,508		388,462		289,613
Instruments issued by the Central Bank		23,410		90,843		46,091
Cash and cash equivalents		8,815,013		10,526,353		7,556,737

2. INCOME TAX AND MINIMUM PRESUMED INCOME TAX

In addition to what was mentioned in Note 4 to the Bank´s stand alone financial statements, the following shows the situation of the main subsidiaries.

As of June 30, 2013 and 2012, subsidiary Banco del Tucumán S.A. estimated income tax in the amount of 49,800 and 43,350, respectively; hence, no minimum presumed income tax should be assessed. In addition, as of June 30, 2013, the Bank made income tax prepayments for 20,959 for the 2013 tax year, which will be applied to the tax amount assessed in the 2013 tax return.

As of June 30, 2013, and 2012, subsidiary Banco Privado de Inversiones S.A. did not set an income tax accrual as it estimated NOLs as of that date and, therefore, booked accrued minimum presumed income tax totaling 110 and 100, respectively. The accumulated NOL totaled 19,458 as of December 31, 2012. Additionally, as of June 30, 2013 the subsidiary booked a minimum presumed income tax credit of 3,460, which was fully accrued, and prepayments for an amount of 19 related to tax year 2013, which were booked under “Other receivables”.

3. RESTRICTED ASSETS

In addition to the assets broken down in Note 7 to the stand-alone financial statements, certain assets are restricted as follows:

Item			06/30/2013	12/31/2012
3.1.	Banco del Tucumán S.A.:
	Other receivables from financial intermediation
	•	Special guarantee checking accounts opened in the Central Bank for transactions related to the electronic clearing houses and similar entities	64,197	55,730
		Subtotal other receivables from financial intermediation	64,197	55,730
	Other receivables
	•	Deposits mainly provided in guarantee for the credit card transaction and related to court deposits.	7,562	7,268
		Subtotal other receivables	7,562	7,268
	Total		71,759	62,998

- 66 -

CONSOLIDATED BALANCE SHEETS

(Section 33, Law No. 19,550)

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

(Translation of financial statements originally issued in Spanish –

See note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

Item (cont.)			06/30/2013	12/31/2012
3.2.	Banco Privado de Inversiones S.A.:
	Other receivables
	•	Sundry receivables includes an item related to the attachment ordered in the context of a claim initiated by Buenos Aires City tax authorities on turnover tax differences.	827	827
	•	Security deposits		15
		Subtotal other receivables	827	842
	Total		827	842
3.3.	Macro Securities S.A. Sociedad de Bolsa:
	Investments in other companies
	•	Other	1,453	1,453
	Total		1,453	1,453

4. CHANGES IN ALLOWANCES AND PROVISIONS

The following are the changes in the Bank’s allowances and provisions consolidated with its subsidiaries as of June 30, 2013:

	Balances at								Balances at
	beginning				Decreases				end of
Breakdown	of year		Increases		Charge off		Reversals		period
Allowances
For loans		887,156		306,524		224,082		21,846		947,752
For other receivables from financial intermediation		233,123		4,061		1,129		1,956		234,099
For receivables from financial leases		6,599		291				7		6,883
For interests in other companies		1,379		79				112		1,346
For other receivables		9,282		630		2,538		310		7,064
Total		1,137,539		311,585		227,749		24,231		1,197,144
Provisions
For contingent commitments		5		5,528				2		5,531
For other contingencies		114,566		19,400		10,494		327		123,145
For differences from court deposits dollarization		17,112		2,155		443				18,824
Total		131,683		27,083		10,937		329		147,500

- 67 -

CONSOLIDATED BALANCE SHEETS

(Section 33, Law No. 19,550)

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

(Translation of financial statements originally issued in Spanish –

See note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

5. DERIVATIVE FINANCIAL INSTRUMENTS

Below is a breakdown of the volumes, in absolute values, by type of derivative financial instrument involved in the transactions between the Bank and its subsidiaries, which are effective as of June 30, 2013, and December 31, 2012:

Type of contract / underlying asset	06/30/2013		12/31/2012
Futures / foreign currency		1,533,177		228,530
Repo transactions		2,438,943		882,661
Forward contracts / foreign currency		153,481		2,053
Options / BODEN coupons				14,713
Swaps / Other		70,000		85,000
Options / Other		60,137		56,045

Additionally, positions of transactions effective as of June 30, 2013, and December 31, 2012, are as follows:

Transaction	06/30/2013			12/31/2012
Net position of repurchase agreements		(2,284,565	)		(507,199	)
Net asset position of forward transactions without delivery of the underlying asset		(5,884	)		25,253
Interest rate swap		70,000			85,000
Position of put options sold on BODEN 2013 coupons					14,713
Position of put options taken		60,137			56,045

6. PORTFOLIO MANAGEMENT

In addition to what was mentioned in Note 12 to the Bank’s stand-alone financial statements, as of June 30, 2013, and December 31, 2012, Banco del Tucumán S.A., manages the following portfolios:

		Managed portfolio as of
Item		06/30/2013		12/31/2012
•	On October 30, 2012, Banco del Tucumán S.A., Banco de Valores S.A. and Banco Macro S.A. entered into a management and custody agreement regarding the “Fideicomiso Financiero Tucumán Personal I” financial trust loan portfolio.		49,324		86,332
•	On December 31, 2008, the Bank and Macro Fiducia S.A. entered into a management and custody agreement regarding the “BATUC 1” trust loan portfolio.		16,110		16,163
•	Other managed portfolios.		14,463		12,717
Total			79,897		115,212

- 68 -

CONSOLIDATED BALANCE SHEETS

(Section 33, Law No. 19,550)

NOTES TO THE FINANCIAL STATEMENTS

AS OF JUNE 30, 2013

(Translation of financial statements originally issued in Spanish –

See note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

7. TRUST AGREEMENTS

In addition to what was mentioned in Note 15. to the Bank’s stand-alone financial statements, the subsidiaries have the following trust agreements as of June 30, 2013, and December 31, 2012:

7.1. Financial trusts for investment purposes

Financial trust	06/30/2013		12/31/2012
Certificates of participation:
TST & AF  (a)				52,845
Other		25,146		24,989
Subtotal certificates of participation		25,146		77,834
Debt securities:
Agroaval XIX				3,917
Other				600
Subtotal debt securities				4,517
Total		25,146		825,351

(a) TST & AF trust

As of December 31, 2012, Macro Bank Limited was the beneficiary of 46.66% of the certificates of participation issued by TST & AF. On May 17, 2013, the Bank sold the abovementioned participation.

7.2. Trusts created using financial assets transferred by the Bank’s subsidiaries.

In addition to what has been mentioned in Note 15.2., to the stand-alone financial statements, which includes the trusts created with financial assets transferred by Banco Macro S.A., subsidiaries Banco del Tucumán S.A. and Banco Privado de Inversiones S.A. 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 earlier, increasing the entities lending capacity.

As of June 30, 2013, and December 31, 2012, considering the latest available accounting information as of the date of the financial statements, the trusts’ assets managed by the trustors of these types of trusts amount to 49,568 and 86,576, respectively.

7.3. Trusts in which the Bank’s subsidiaries act as trustees (administration).

As mentioned in Note 15.3. to the stand-alone financial statements, and in addition to those included in that note, in these trusts the Bank, through Macro Fiducia S.A. (subsidiary) only carries out administrative duties regarding the corpus assets, in accordance with the agreements.

As of June 30, 2013, and December 31, 2012, considering the latest available accounting information as of the date of the financial statements, the trusts’ assets managed through Macro Fiducia S.A. (subsidiary) of these types of trusts amount to 825,502 and 727,596, respectively.

Jorge H. Brito

Chairperson

- 69 -

EXHIBIT I

CONSOLIDATED DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013				12/31/2012
Name	Market value or Present Value		Book balance		Book balance
GOVERNMENT AND PRIVATE SECURITIES
GOVERNMENT SECURITIES
Government securities at market value
-  Local
Federal government bonds in pesos at Badlar Private + 2.75% - Maturity: 2014				932,379		566,873
Secured bonds under Presidential Decree No. 1,579/02 at 2%				276,607		71,649
Federal government bonds in pesos at Badlar Private + 3.00 % - Maturity: 2015				186,173		124,044
Consolidation bonds in pesos - 7° Serie - Maturity: 01-04-2016				54,851
Federal government bonds in US dollars at 7% - Maturity: 2015				41,786		10,484
Consolidation bonds in pesos - 6° Serie - Maturity: 2024 at 2%				35,065		38,789
Discount bonds denominated in pesos at 5.83% - Maturity: 2033				27,989		62,879
Debt securities Series II Fixed rate for 360-day term secured in US dollars – Maturity 11-14-2013				27,582
Consolidation bonds in pesos - 4° Serie at 2.00%				21,779		217
Consolidation bonds in pesos - 8° Serie				21,750		49
Other				51,494		93,576
Subtotal holdings booked at market value - Local				1,677,455		968,560
- Foreign
Treasury Bill - Maturity 07-18-13				403,886
Treasury Bill - Maturity 07-05-13				64,622
Treasury Bill - Maturity 01-10-13						314,705
Treasury Bill - Maturity 01-24-13						49,172
Treasury Bill - Maturity 03-14-13						24,585
Subtotal holdings booked at market value - Foreign				468,508		388,462
Subtotal holdings booked at market value				2,145,963		1,357,022
Government securities under repo transactions with Central Bank of Argentina
- Local
Federal government bonds in US dollars at 7% - Maturity: 2017		54,782		54,782
Subtotal government securities under repo transactions with Central Bank of Argentina				54,782
Government securities at amortized cost
- Local
Debt Securities of the Province of Neuquén Series 1 Class I in US dollars - Maturity: 06-12-2016		159,757		159,757
Secured Province of Neuquén Treasury Bills Class 1 in US dollars – Maturity: 05-23-2014		110,062		106,185		146,341
Province of Buenos Aires Treasury Bills in pesos – Maturity: 05-29-2014		101,701		101,701
Debt Securities of the Province of Mendoza Class 1 in US dollars - Maturity: 05-28-2016		64,080		64,080
Province of Entre Ríos Treasury Bills in pesos – Maturity: 10-24-2013		25,099		25,099
Province of Chubut Treasury Bills Class 2 Serie VII in pesos – Maturity: 10-25-2013		24,435		24,435
Province of Chubut Treasury Bills Class 3 Serie VI in pesos – Maturity: 09-24-2013		15,076		15,076
Province of Chubut Treasury Bills Class 2 Serie VI in pesos – Maturity: 08-26-2013		15,066		15,066
Province of Tucumán bonds - First series in pesos - Maturity: 2018		4,255		4,425		2,775
Province of Tucumán bonds - Second series in dollars at 9.45% - Maturity: 2015		1,281		1,300		4,972
Province of Buenos Aires Treasury Bills in pesos – Maturity: 01-31-2013						51,819
Province of Buenos Aires Treasury Bills in pesos – Maturity: 06-06-2013						51,525
Debt Securities of the Province of Entre Ríos Series II in pesos Class A - Maturity: 03-26-2013						25,757
Debt securities Series II Fixed rate for 360-day term secured in US dollars – Maturity: 11-14-2013						25,010
Province of Chubut Treasury Bills Series III in pesos – Maturity: 05-24-2013						20,396
Province of Chaco Treasury Bills in US dollars - Maturity: 03-14-2013						19,526
Debt Securities of the Province of Entre Ríos Series II in pesos Class A - Maturity: 02-26-2013						5,053
Other				1
Subtotal government securities at amortized cost				517,125		353,174

Jorge H. Brito

Chairperson

- 70 -

EXHIBIT I

(Continued)

CONSOLIDATED DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF JUNE 30, 2013 AND DECEMBER 31, 2012

(Translation of financial statements originally issued in Spanish -

See Note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013			12/31/2012
Name	Market value or Present Value	Book balance		Book balance
INSTRUMENTS ISSUED BY THE CENTRAL BANK OF ARGENTINA
Central Bank of Argentina Internal Bills - Under Repo Transactions
Central Bank of Argentina Internal Bills in pesos – Maturity: 10-30-2013			1,986,597
Central Bank of Argentina Internal Bills in pesos – Maturity: 01-28-2015			278,525
Central Bank of Argentina Internal Bills in pesos – Maturity: 04-10-2013					182,745
Central Bank of Argentina Internal Bills in pesos – Maturity: 09-25-2013					48,942
Central Bank of Argentina Internal Bills in pesos – Maturity: 01-30-2013					43,529
Central Bank of Argentina Internal Bills in pesos – Maturity: 03-06-2013					38,972
Subtotal Central Bank of Argentina Internal Bills - Under repo Transactions			2,265,122		314,188
Central Bank of Argentina Internal Bills at market value – Own Portfolio
Central Bank of Argentina Internal Bills in pesos – Maturity: 07-10-2013			15,951
Central Bank of Argentina Internal Bills in pesos – Maturity: 07-17-2013			7,459
Central Bank of Argentina Internal Bills in pesos – Maturity: 03-27-2013					8,720
Subtotal Central Bank of Argentina Internal Bills at market value – Own Portfolio			23,410		8,720
Central Bank of Argentina Internal Bills at amortized cost - Own Portfolio
Central Bank of Argentina Internal Bills in pesos – Maturity: 02-06-2013					49,384
Central Bank of Argentina Internal Bills in pesos – Maturity: 02-27-2013					20,847
Central Bank of Argentina Internal Bills in pesos – Maturity: 02-20-2013					15,746
Central Bank of Argentina Internal Bills in pesos – Maturity: 03-20-2013					4,866
Subtotal Central Bank of Argentina Internal Bills at amortized cost - Own Portfolio					90,843
Central Bank of Argentina notes at market value - Own portfolio
Central Bank of Argentina Internal Notes in pesos with variable coupon (Badlar rate) + 2.5% - Maturity: 05-15-2013					26,320
Subtotal Central Bank of Argentina notes at market value - Own portfolio					26,320
Subtotal instruments issued by the Central Bank of Argentina			2,288,532		440,071

Jorge H. Brito

Chairperson

- 71 -

EXHIBIT I

(Continued)

CONSOLIDATED DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF JUNE 30, 2013 AND DECEMBER, 31 2012

(Translation of financial statements originally issued in Spanish -

See note 22 to the stand-alone financial statements)

(Figures stated in thousands of pesos)

	06/30/2013			12/31/2012
Name	Market value or Present Value	Book balance		Book balance
INSTRUMENTS ISSUED BY THE CENTRAL BANK OF ARGENTINA (Continued)			2,288,532		440,071
Central Bank of Argentina Notes - Under Repo Transactions
Central Bank of Argentina Internal Notes in pesos with variable coupon (Badlar rate) + 2,5% - Maturity 05-15-2013					33,120
Central Bank of Argentina Internal Notes in pesos with variable coupon (Badlar rate) + 2,5% - Maturity 01-23-2013					139,698
Subtotal Central Bank of Argentina Notes - Under repo Transactions					172,818
Central Bank of Argentina internal notes at amortized cost - Own portfolio
Central Bank of Argentina Internal Notes in pesos with variable coupon (Badlar rate) + 2,5% - Maturity 04-23-2014			33,599
Subtotal Central Bank of Argentina internal notes at amortized cost - Own portfolio			33,599
Total Instruments issued by the Central Bank of Argentina			2,322,131		612,889
Total Government securities			5,040,001		2,323,085
INVESTMENTS IN LISTED PRIVATE  SECURITIES
Tenaris S.A.			1		1
Siderar S.A.			1
Petroleo Brasileiro S.A. - Petrobras					11,194
Grupo Financiero Galícia S.A.					8,414
IRSA Inversiones y Representaciones S.A.					384
Total investment in listed private securities			2		19,993
Total government and private securities			5,040,003		2,343,078

Jorge H. Brito

Chairperson

- 72 -

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

Date: August 23, 2013

MACRO BANK INC.
By:	/s/ Luis Cerolini
Name: Luis Cerolini
Title: Director