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v3.22.1

Related Parties | 12 Months Ended
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Dec. 31, 2021
Statement [LineItems] |
Related Parties |
20 | RELATED PARTIES
A related party is a person or entity that is related to the Bank:
| • |  | has control or joint control of the Bank;
| • |  | has significant influence over the Bank;
| • |  | is a member of the key management personnel of the Bank or of the parent of the Bank;
| • |  | members of the same group;
| • |  | one entity is an associate (or an associate of a member of a group of which the other entity is a member).
Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Bank, directly or indirectly. The Bank considers as key management personnel, for the purposes of IAS 24, the members of the Board of Directors and the senior management members of the Risk Management Committee, the Assets and Liabilities Committee and the Senior Credit Committee. As of December 31, 2021 and 2020, amounts balances and profit or loss related to transactions generated with related parties, are as follows:
|  | As of December 31, 2021 |
| Main subsidiaries (1) |  |  | Associates |  |  | Key management personnel (2) |  |  | Other related parties |  |  | Total |
| Macro Bank Limited |  |  | Macro Securities SA |  |  | Macro Fondos SGFCISA |  |  | Argenpay SAU |  |  | Fintech SGR |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and deposit in banks |  |  | 823 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 823 |
Other financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 148,936 |  |  |  | 144,633 |  |  |  | 293,569 |
Loans and other financing (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Documents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 28,541 |  |  |  | 28,541 |
Overdraft |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 80,403 |  |  |  | 252,937 |  |  |  | 333,340 |
Credit cards |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 71,832 |  |  |  | 53,974 |  |  |  | 125,806 |
Lease |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 28,726 |  |  |  | 28,726 |
Personal loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,425 |  |  |  |  |  |  |  | 1,425 |
Mortgage loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 256,599 |  |  |  |  |  |  |  | 256,599 |
Other loans |  |  |  |  |  |  | 1,384,921 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 76,342 |  |  |  | 1,582,029 |  |  |  | 3,043,292 |
Other receivables f rom financial intermediation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 758,325 |  |  |  |  |  |  |  |  |  |  |  | 6,900 |  |  |  | 765,225 |
Guarantee granted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,023,357 |  |  |  | 1,023,357 |
Other financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 24 |  |  |  |  |  |  |  | 24 |
Total assets |  |  | 823 |  |  |  | 1,384,921 |  |  |  |  |  |  |  |  |  |  |  | 758,325 |  |  |  |  |  |  |  | 635,561 |  |  |  | 3,121,097 |  |  |  | 5,900,727 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 4 |  |  |  | 1,590,380 |  |  |  | 163,720 |  |  |  | 68,597 |  |  |  | 31 |  |  |  | 52,839 |  |  |  | 3,694,741 |  |  |  | 1,714,309 |  |  |  | 7,284,621 |
Liabilities at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,627,311 |  |  |  | 1,627,311 |
Other financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 48,778 |  |  |  | 249,244 |  |  |  | 298,022 |
Subordinated corporate bonds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 42,016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 42,016 |
Other non-financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,382 |  |  |  | 15,382 |
Total liabilities |  |  | 4 |  |  |  | 1,590,380 |  |  |  | 163,720 |  |  |  | 68,597 |  |  |  | 42,047 |  |  |  | 52,839 |  |  |  | 3,743,519 |  |  |  | 3,606,246 |  |  |  | 9,267,352 |
Income / (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  |  |  | 3,573 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 162,955 |  |  |  | 1,436,905 |  |  |  | 1,603,433 |
Interest expense |  |  |  |  |  |  | (4,212 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (17,334 | ) |  |  | (38,381 | ) |  |  | (56,014 | ) |  |  | (115,941 | )
Commissions income |  |  |  |  |  |  | 21,993 |  |  |  | 119 |  |  |  |  |  |  |  | 29 |  |  |  | 223 |  |  |  | 19 |  |  |  | 100,811 |  |  |  | 123,194 |
Commissions expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (359 | ) |  |  |  |  |  |  | (23 | ) |  |  | (176 | ) |  |  | (558 | )
Profit from measurement of financial instruments at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 23,456 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 23,456 |
Other operating income |  |  | 4 |  |  |  | 3,436 |  |  |  |  |  |  |  |  |  |  |  | 6,699 |  |  |  |  |  |  |  |  |  |  |  | 32 |  |  |  | 10,171 |
Administrative expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (240,291 | ) |  |  | (240,291 | )
Other operating expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (74,419 | ) |  |  | (74,419 | )
Income / (loss) |  |  | 4 |  |  |  | 24,790 |  |  |  | 119 |  |  |  |  |  |  |  | 29,825 |  |  |  | (17,111 | ) |  |  | 124,570 |  |  |  | 1,166,848 |  |  |  | 1,329,045 |
(1) | These transactions are eliminated during the consolidation process.
(2) | Includes close family members of the key management personnel.
(3) | The maximum financing amount for loans and other financing as of December 31, 2021 for Macro Securities SA, Fintech SGR, Key management personnel and other related parties amounted to 1,396,568, 758,325, 716,466 and 6,115,273, respectively.
|  | As of December 31, 2020 |
| Main subsidiaries (1) |  |  | Associates |  |  | Key management personnel (2) |  |  | Other related parties |  |  | Total |
| Macro Bank Limited |  |  | Macro Securities SA |  |  | Macro Fondos SGFCISA |  |  | Argenpay SAU |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and deposit in banks |  |  | 1,017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,017 |
Repo transaction |  |  |  |  |  |  | 1,158,305 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,158,305 |
Other financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 71 |  |  |  | 152 |  |  |  | 223 |
Loans and other financing (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Documents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,306 |  |  |  | 2,306 |
Overdraft |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 49,439 |  |  |  | 613,454 |  |  |  | 662,893 |
Credit cards |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 68,404 |  |  |  | 16,608 |  |  |  | 85,012 |
Lease |  |  |  |  |  |  | 1,561 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,884 |  |  |  | 9,445 |
Personal loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,586 |  |  |  |  |  |  |  | 17,586 |
Mortgage loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 127,052 |  |  |  |  |  |  |  | 127,052 |
Other loans |  |  |  |  |  |  | 1,074,368 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 574,316 |  |  |  | 1,648,684 |
Guarantee granted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,255,383 |  |  |  | 1,255,383 |
Total assets |  |  | 1,017 |  |  |  | 2,234,234 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 262,552 |  |  |  | 2,470,103 |  |  |  | 4,967,906 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 11 |  |  |  | 1,013,452 |  |  |  | 197,151 |  |  |  | 86,001 |  |  |  | 65,417 |  |  |  | 4,335,052 |  |  |  | 2,303,192 |  |  |  | 8,000,276 |
Other financial liabilities |  |  |  |  |  |  | 23,570 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,813,438 |  |  |  | 18,673 |  |  |  | 17,855,681 |
Other non-financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,242 |  |  |  | 17,242 |
Total liabilities |  |  | 11 |  |  |  | 1,037,022 |  |  |  | 197,151 |  |  |  | 86,001 |  |  |  | 65,417 |  |  |  | 22,148,490 |  |  |  | 2,339,107 |  |  |  | 25,873,199 |
Income / (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  |  |  | 70,971 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 99,640 |  |  |  | 950,684 |  |  |  | 1,121,295 |
Interest expense |  |  |  |  |  |  | (946 | ) |  |  |  |  |  |  |  |  |  |  | (13,379 | ) |  |  | (1,348,611 | ) |  |  | (1,113,217 | ) |  |  | (2,476,153 | )
Commissions income |  |  |  |  |  |  | 16,207 |  |  |  | 463 |  |  |  |  |  |  |  | 134 |  |  |  | 234 |  |  |  | 92,959 |  |  |  | 109,997 |
Commissions expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (204 | ) |  |  | (355 | ) |  |  | (559 | )
Profit from measurement of financial instruments at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 26,960 |  |  |  | 26,960 |
Other operating income |  |  | 6 |  |  |  |  |  |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  |  |  |  |  | 35 |  |  |  | 43 |
Allowance for loan losses |  |  |  |  |  |  | (10,394 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,394 | )
Administrative expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (252,403 | ) |  |  | (252,403 | )
Other operating expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (115,864 | ) |  |  | (115,864 | )
Income / (loss) |  |  | 6 |  |  |  | 75,838 |  |  |  | 463 |  |  |  | 2 |  |  |  | (13,245 | ) |  |  | (1,248,941 | ) |  |  | (411,201 | ) |  |  | (1,597,078 | )
(1) | These transactions are eliminated during the consolidation process.
(2) | Includes close family members of the key management personnel.
(3) | The maximum financing amount for loans and other financing as of December 31, 2020 for Macro Securities SA, Key management personnel and other related parties amounted to 1,079,213, 1,505,410 and 7,054,028, respectively.
|  | As of December 31, 2019 |
| Main subsidiaries (1) |  |  | Associates |  |  | Key management personnel (2) |  |  | Other related parties |  |  | Total |
| Macro Bank Limited |  |  | Macro Securities SA |  |  | Macro Fondos SGFCISA |  |  | Argenpay SAU |
Income / (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  |  |  |  |  | 8,187 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 72,451 |  |  |  | 188,480 |  |  |  | 269,118 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,043 | ) |  |  |  |  |  |  | (653,204 | ) |  |  | (169,468 | ) |  |  | (825,715 | )
Commissions income |  |  |  |  |  |  | 459 |  |  |  | 157 |  |  |  | 154 |  |  |  |  |  |  |  | 44 |  |  |  | 4,488 |  |  |  | 5,302 |
Net loss from measurement of financial instruments at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (34,425 | ) |  |  | (176,931 | ) |  |  | (211,356 | )
Other operating income |  |  | 3 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 26 |  |  |  | 29 |
Administrative expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (34,360 | ) |  |  | (34,360 | )
Other operating expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (86,955 | ) |  |  | (86,955 | )
Income / (loss) |  |  | 3 |  |  |  | 8,646 |  |  |  | 157 |  |  |  | (2,889 | ) |  |  |  |  |  |  | (615,134 | ) |  |  | (274,720 | ) |  |  | (883,937 | )
(1) | These transactions are eliminated during the consolidation process.
(2) | Includes close family members of the key management personnel.
Transactions generated by the Bank with its related parties for transactions arranged within the course of the usual and ordinary course of business were performed in normal market conditions, both as to interest rates and prices and as to the required guarantees. The Bank does not have loans granted to directors and other key management personnel secured with shares. Total remunerations received as salary and bonus by the key management personnel as of December 31, 2021, 2020 and 2019, totaled 580,907, 488,739 and 491,434, respectively. In addition, fees received by the Directors as of December 31, 2021, 2020 and 2019 amounted to 1,143,538, 2,572,243 and 4,259,819, respectively. Additionally, the composition of the Board of Directors and key management personnel of the Bank and its subsidiaries is as follows:
Composition |  | 12/31/2021 |  |  | 12/31/2020 |
Board of Directors |  |  | 22 |  |  |  | 22 |
Senior managers of the key management personnel |  |  | 12 |  |  |  | 11 |
Total |  |  | 34 |  |  |  | 33 |

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