SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934

February 27, 2007

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 Form 20-F or Form 40-F.

Form 20-F x Form 40-F o

          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 o 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 o 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 o 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 ANNOUNCES RESULTS FOR THE FOURTH QUARTER OF 2006

Buenos Aires, Argentina, February 27th, 2007 – Banco Macro S.A. (NYSE: BMA; Buenos Aires: BMA) (“Banco Macro” or “BMA”) announced today its results for the fourth quarter period ended December 31, 2006 (“4Q06”).  All figures are in Argentine pesos (Ps.) and have been prepared in accordance with Argentine GAAP. 

SUMMARY

• The Bank’s net income totalled $147 million in 4Q06.  This result was 95%, or $72 million, higher than 4Q05’s $75 million and 39%, or $41 million, higher than 3Q06’s $106 million.  Fiscal year 2006 net income totalled $424 million, 62% higher than 2005’s $263 million.  The annualized 2006 ROE and ROA reached 22.15% and 3.60%, respectively.

• Loans to the private sector also showed significant growth of 10%, or $498 million, quarter over quarter (“QoQ”) and 85%, or $2.54 billion, year over year (“YoY”).  Personal loans which represent a strategic product for the Bank, once again led private loan portfolio growth.  This product grew $327 million QoQ and $954 million YoY.

• Total deposits grew $383 million, or 4%, QoQ.  Saving accounts increased by 29%, or $473 million, QoQ while current accounts grew 13%, or $208 million, in the same period.

• In December 2006, Banco Macro issued USD150 million in a 30-year perpetual Tier-1 subordinated bond.  Based on the new Central Bank regulations, this bond is considered as regulatory capital for the Bank.  Therefore, Banco Macro’s 4Q06 excess capital reached $1.92 billion or 258%.

• The Bank’s asset quality continued improving.  In 4Q06, Banco Macro’s PDLs to total loans was 1.98% and the coverage ratio was 156.34%.

• Net fee income to expenses ratio was 54.51%.

• For comparison purposes, Nuevo Banco Bisel (“NBB”) was fully incorporated in this 4Q06’s financials.  Please remember that in 3Q06, Banco Macro only consolidated 51 days of NBB’s quarter since Banco Macro had taken control of NBB on August 11, 2006.

RESULTS

Earnings per share in the 4Q06 reached $0.22, 39% or $0.07 higher than 3Q06’s and 75% or $0.10 higher compared to 4Q05’s $0.12 per share.

	MACRO consolidated
EARNINGS PER SHARE	IV 05		I 06		II06		III06		IV06
Net income (M $)		75		73		99		106		147
Average shares outstanding (M)		609		616		684		684		684
Book value per share ($)		2.45		2.97		3.01		3.17		3.38
Earnings per share ($)		0.12		0.11		0.14		0.15		0.22

Banco Macro’s 4Q06 net income climbed to $147M, which represented a 95% jump compared to the same period of 2005 and a 39% increase compared to the previous quarter.

The Bank’s 2006 ROE of 22.2% was well above than 2005’s 19.7%. Additionally, the obtained ROE has a higher value considering the low leverage of Banco Macro’s balance sheet (6.3x assets to equity ratio).

	MACRO consolidated
INCOME STATEMENT In MILLION $
	IV 05		I 06		II06		III06		IV06
Net financial income		142		135		175		211		239
Provision for loan losses		-13		-9		-14		-19		-17
Net fee income		68		71		77		97		114
		197		197		238		289		336
Administrative expenses		-128		-128		-145		-169		-210
		69		69		93		120		126
Minority interest		0		0		0		-2		-1
Net other income		29		13		16		15		53
Earnings before income tax		98		82		109		133		178
Income tax		-23		-9		-10		-27		-31
NET INCOME		75		73		99		106		147

The Bank’s financial income of $365 million in 4Q06 increased 68% YoY and 15% QoQ. 

In the quarter, interests on loans increased 24% QoQ and 130% YoY.  This performance was in line with the sustained private sector loan growth (refer to private sector financing) and was reflected in interest on documents and other loans.  Interest on loans represented 54% of total financial income, higher than 3Q06’s 50% level.

4Q06 Results Page 2 of 19

Results generated by public and private securities remained flat QoQ but climbed 53% YoY on the back of the Bank’s LEBAC and NOBAC portfolio.  This segment represented 27% of the Bank’s financial income, lower than 3Q06’s level of 29%.

Finally, CER-adjusted income increased $7 million on the back of the CPI evolution which was directly related to the inflation index (4Q06 CER index was 2.46% while in prior quarter it was 1.65%).  On an annual basis, CER-adjusted income decreased by $8 million mainly due to a decrease in the CER adjusted bonds portfolio.

	MACRO consolidated
FINANCIAL INCOME In MILLION $
	IV 05		I 06		II06		III06		IV06
Interest on cash and due from banks		2		2		2		4		3
Interest on loans to the financial sector		2		3		4		4		6
Interest on overdrafts		15		16		24		37		43
Interest on documents		10		10		10		15		22
Interest on mortgages		10		9		11		13		15
Interest on pledges		8		9		10		12		13
Interest on credit cards		5		5		7		8		10
Interest on other loans		36		45		57		70		88
Interest on other receivables from financial intermediation		4		4		3		4		4
Income from government & private securities (1)		64		50		77		99		98
Results of guaranteed loans		7		6		7		8		9
CER adjustment (2)		30		29		19		15		22
CVS adjustment		1		0		0		0		1
Other		24		23		30		29		31
Total financial income		218		211		261		318		365
(1) Income from government & private securities
LEBAC / NOBAC		45		57		61		79		69
Other		18		-6		16		20		29
TOTAL		64		50		77		99		98
(2) CER adjustment
CER other bonds		7		2		0		0		0
Guaranteed loans		20		20		14		11		17
Loans to the private sector		2		6		0		3		3
Other		1		1		5		1		2
TOTAL		30		29		19		15		22

Banco Macro’s 4Q06 financial expenses of $126 million were up 66% (or $50 million) YoY and 18% (or $ 19 million) QoQ due to the growth of interest on deposits.

Interest on deposits represented 67% of total financial expenses and grew 13%, or $10 million, QoQ and 138%, or $50 million, YoY. 

Finally, expenses originated by CER-adjustments grew $4 million QoQ due to the CPI evolution which was directly related to the inflation index (4Q06 CER index was 2.46% while in prior quarter it was 1.65%).  On an annual basis, CER-adjusted expenses decreased by $11 million due to a decrease in time deposits adjusted by CER.

4Q06 Results Page 3 of 19

Banco Macro’s 4Q06 net interest income of $239 million grew 13%, or $28 million, compared to the previous quarter.

	MACRO consolidated
FINANCIAL EXPENSES In MILLION $
	IV 05		I 06		II06		III06		IV06
Interest on checking accounts		1		1		2		3		5
Interest on saving accounts		1		2		1		2		2
Interest on time deposits		33		36		49		70		78
Interest on other liabilities from financial intermediation		3		4		3		4		4
Other Interest		4		3		3		5		4
CER adjustments (3)		24		19		14		9		13
Other Interest		10		11		14		14		20
Total Financial Expenses		76		76		86		107		126
(3) CER adjustments
Time deposits CER adjusted		17		10		7		3		4
Advance for Boden purchase		6		7		6		3		4
Other		1		2		1		3		5
TOTAL		24		19		14		9		13

During 4Q06, Banco Macro’s net fee income of $114 million rose by 68% from last year’s level of $68 million and climbed by 18%, or $17 million, QoQ.  If we had not included NBB in our analysis, net fee income would have grown by 6% QoQ.

As we can see in the following table, all line items experienced an increase in fee income with deposit accounts and credit and debit cards fees showing the highest increase in fee income. 

	MACRO consolidated
NET FEE INCOME In MILLION $
	IV 05		I 06		II06		III06		IV06
Fee charges on deposit accounts		56		57		65		81		98
Debit and credit card income		3		7		10		11		23
Other fees related to foreign trade		3		3		3		3		3
Credit-related fees		6		6		7		8		12
Lease of safe-deposit boxes		2		2		2		2		-4
Other		15		14		11		18		10
Total fee income		85		89		98		123		142
Total fee expenses		17		18		21		26		28
Net fee income		68		71		77		97		114

In 4Q06, Banco Macro’s administrative expenses of $210 million grew by 24% compared to the previous quarter’s level of $169 million and 64% YoY.  Had we excluded NBB from our comparison, administrative expenses would have increased by 15% or $21 million QoQ and 31% or $40 million YoY. 

4Q06 Results Page 4 of 19

A 71% increase of the quarterly administrative expenses is explained by personnel expenses and can be traced to the provision of the employees’ annual bonus, a one-time payment negotiated with the unions ($650 for each employee) and an extraordinary expense of $300 in lunch tickets for some employees.  Had we excluded these one-time charges, administrative expenses would have grown 15% QoQ.

The above mentioned extraordinary expenses resulted in a slight deterioration in the Bank’s positive efficiency ratio trend.  The efficiency ratio (cost to income) was 59.5%.  Excluding these one-time charges, Banco Macro’s efficiency ratio would have been 55%.

	MACRO consolidated
ADMINISTRATIVE EXPENSES In MILLION $
	IV 05		I 06		II06		III06		IV06
Personnel expenses		75		79		82		103		132
Fees to directors & statutory auditors		2		2		7		3		3
Other profesional fees		9		8		10		10		12
Advertising & publicity		9		5		8		9		10
Taxes		1		2		2		2		3
Other operating expenses		28		29		31		38		46
Other		4		3		5		4		4
Total Administrative Expenses		128		128		145		169		210
Total Employees		5,054		5,051		5,570		7,244		7,585
Branches		252		253		279		437		433

The Bank’s net other income totalled $53 million in 4Q06 was $38 million and $24 million higher QoQ and YoY, respectively.  In 4Q06, there was an extraordinary income of $41 million from loans recovered in Banco Suquía that had been previously written-off.  On the other hand, expenses from the perpetual bond issuance totalled $14 million.

FINANCIAL ASSETS

Private sector financing

The volume of “core” financing to the private sector continued growing at attractive rates (10%, or $498 million, QoQ and 85%, or $2.54 billion, YoY), netting the effects related to the Bank’s liquidity management policy (advances to AAA companies) and adding the Bank’s personal financial trust and leasing portfolio.  Excluding them, Banco Macro’s loan book grew 97% YoY.

The expansion of the Bank’s lending portfolio was principally driven by consumer loans.  Personal loans rose 30%, or $327 million, QoQ and 200%, or $954 million, YoY while credit card loans increased by 10%, or $45 million, QoQ and 107%, or $257 million, YoY.  In addition, overdrafts increased by 22%, or $124 million, and 125%, or $376 million, YoY.

4Q06 Results Page 5 of 19

Finally, leasing also evolved favourably (up 12% QoQ and 95% YoY) and financial trusts which rose 30% YoY.

	MACRO consolidated
PRIVATE SECTOR LOAN PORTFOLIO In MILLION $
	IV 05		I 06		II06		III06		IV06		IV06/III06			IV06/IV05
Overdrafts (total)		433		455		948		1,150		1,103		-4	%		155	%
Overdrafts		300		313		297		552		676		0	%		0	%
AAA (liquidity administration)		133		142		651		598		427		0	%		0	%
Discounted documents		434		348		382		510		544		7	%		25	%
Mortgages		298		295		347		417		426		2	%		43	%
Pledges		230		245		256		299		301		1	%		31	%
Consumer		477		587		834		1,104		1,431		30	%		200	%
Credit Cards		241		274		306		453		498		10	%		107	%
Others		779		869		996		1,172		1,132		-4	%		45	%
Interests, adjustments and other		56		64		73		95		90		-5	%		61	%
Provisions		-248		-190		-178		-216		-209		-3	%		-16	%
Total loans		2,700		2,947		3,964		4,984		5,316		7	%		97	%
Financial trusts		288		357		391		404		374		-8	%		30	%
Leasing		145		173		204		252		282		12	%		95	%
Total credit to the private sector		3,133		3,477		4,559		5,640		5,972		6	%		91	%
Total credit w/o liquidity administration		3,000		3,335		3,955		5,046		5,544		10	%		85	%

PUBLIC SECTOR ASSETS

The Bank’s public sector assets (net of LEBAC / NOBAC) to total assets ratio narrowed 4 percentage points to 11% from last year’s level of 15% and is also lower than the system’s average of 13.6%.

	MACRO consolidated
PUBLIC SECTOR ASSETS In MILLION $
	IV 05			I 06			II06			III06			IV06			Val
LEBAC / NOBAC B.C.R.A.		2,240			1,643			1,880			2,533			2,374			MV
Secured bonds		198			0			32			29			0			MV
Compensation receivable bond		106			0			0			0			0			TV
Other		161			308			465			317			286			MV
Government securities		2,705			1,951			2,377			2,879			2,660
Guaranteed loans		642			629			615			780			771			A3911
Provincial loans		4			2			1			1			0			PV
Government securities loans		57			92			56			39			2			MV
Loans		703			723			672			820			773
Compensation to be received		0			0			8			0			0			TV
Purchase of government bonds		246			198			287			175			548			MV
Other receivables for financial intermediation		246			198			295			175			548
Boden purchased from clients (Swap II)		2			0			0			0			0			MV
Boden 2005, 2007, 2008, 2012 & 2013 to collect		16			26			25			16			17			MV
Other receivables		18			26			25			16			17
TOTAL ASSETS		3,672			2,898			3,369			3,890			3,998
TOTAL LIABILITIES		888			920			928			727			551
Net exposure		2,784			1,978			2,441			3,163			3,447
TOTAL PUBLIC SECTOR ASSETS (net of LEBAC / NOBAC)		1,432			1,255			1,489			1,357			1,624
TOTAL PUBLIC SECTOR ASSETS (net of LEB / NOB) / T. A.		15	%		13	%		13	%		10	%		11	%
Net exposure (net of LEB/NOB) / TOTAL ASSETS		6	%		3	%		5	%		5	%		7	%

4Q06 Results Page 6 of 19

FUNDING

Banco Macro’s deposit base reached $10 billion being the most important source of funding for the Bank.  Deposits grew by 4%, or $383 million, QoQ.

Private sector deposits grew 7%, or $545 million, QoQ.  Savings accounts grew by 29% and checking accounts rose by 13%.  Time deposits were down 3% or $133 million.  Time deposits to total deposits ratio was 44% lower than last year’s level of 49%.

	MACRO consolidated
DEPOSITS In MILLION $
	IV 05		I 06		II 06		III06		IV 06		IV06/III06
Public sector		823		659		1,328		1,452		1,296		-11	%
Financial sector		5		6		6		11		5		-53	%
Private sector		5,737		5,781		6,422		8,225		8,770		7	%
Current accounts		1,036		1,150		1,235		1,668		1,876		13	%
Savings accounts		1,101		1,040		1,189		1,624		2,097		29	%
Time deposits		3,222		3,257		3,632		4,514		4,381		-3	%
Other		378		334		366		419		416		-1	%
TOTAL		6,565		6,446		7,756		9,688		10,071		4	%

Other sources of funds

The Bank’s other sources of funds increased by 22%, or $632 million, QoQ and 80%, or $1.54 billion, YoY.  The quarterly increase can be principally explained by the issuance of the 30-year perpetual bond of USD150 million.

	MACRO consolidated
OTHER FUNDING In MILLION AR $
	IV 05		I 06		II 06		III06		IV06
Central Bank		217		223		230		375		386
Banks and international institutions		159		160		164		180		182
Financing received from Argentine financial institutions		42		43		44		47		68
Subordinated corporate bonds		12		12		13		57		508
Shareholders´ equity		1,490		2,032		2,062		2,168		2,315
Total Funding		1,920		2,470		2,513		2,827		3,459

4Q06 Results Page 7 of 19

LIQUID ASSETS

The Bank’s liquid assets increased by 14%, or $828 million, QoQ.  It is worth mentioning that the Bank received USD150 million from the bond issuance in December 2006 and part of these funds remained as liquid assets until they are transformed into loans.

Banco Macro’s liquid assets to deposits ratio of 65.2% was higher than the 40% average of Argentina’s banking sector.  This high liquidity level is Banco Macro’s strategic policy.

LIQUID ASSETS In MILLION $	MACRO consolidated
	IV 05			I 06			II06			III06			IV06
Cash		1,189			2,127			1,783			2,050			2,627
Guarantees for compensating chambers		95			97			123			139			116
Loans to AAA companies		133			142			604			598			427
Call		81			103			115			237			395
Repos		61			90			218			28			214
LEBAC / NOBAC		2,463			1,688			1,975			2,686			2,787
TOTAL		4,022			4,247			4,818			5,738			6,566
Liquid assets to total deposits		61.26	%		65.88	%		62.12	%		59.23	%		65.20	%

SOLVENCY

In this quarter, Banco Macro has considerably increased its solvency ratio mainly due to the incorporation to its capital base of the USD150 million perpetual bond based on the new Central Bank regulations.  The Bank’s excess capital rose 31% QoQ reaching $1.92 billion (258% higher than the required capital of $741 million).

The capitalization ratio increased to 31.3% compared to 3Q06’s level of 27.7%.

	MACRO consolidated
MIN.CAP.REQUIREMENT In MILLION $
	IV 05		I 06		II 06		III 06		IV06
Credit requirements		330		379		487		582		651
Market risk requirements		21		21		51		56		61
Interest rate requirements		15		46		8		4		16
Incremental requirements										13
Integrated capital		1,492		1,946		2,012		2,104		2,656
Excess capital		1,126		1,500		1,466		1,462		1,915

4Q06 Results Page 8 of 19

ASSET QUALITY

Banco Macro continued improving its asset quality ratios, being one of the banks in Argentina with the highest asset quality.

Non-performing financing to total financing ratio was 1.98% in 4Q06 better than 3Q06’s level of 2.3%.  The obtained asset quality standard is highly valued considering that Banco Macro’s has incorporated two regional banks (Suquia and Bisel) in the last two years.

The coverage ratio was 156% or 10% higher than the previous quarter.

	MACRO consolidated
ASSET QUALITY In MILLION $
	IV 05			I 06			II06			III06			IV06
Commercial portfolio		2,503			2,700			3,422			4,088			4,097
Irregular		133			84			62			79			65
Consumer portfolio		1,574			1,764			2,138			2,900			3,351
Irregular		75			62			67			82			82
Total portfolio		4,077			4,464			5,560			6,988			7,448
Irregular		208			146			129			161			147
Irregular / total portfolio		5.10	%		3.27	%		2.32	%		2.30	%		1.98	%
Total provisions		266			209			198			236			230
Coverage ratio		127.88	%		143.15	%		153.49	%		146.41	%		156.34	%

CER EXPOSURE AND FOREIGN CURRENCY POSITION

	MACRO consolidated
CER EXPOSURE In MILLION $
	IV 05		I 06		II 06		III 06		IV 06
CER adjustable ASSETS
Government securities		209		0		210		309		116
Guaranteed loans		646		628		617		779		770
Loans to the private sector		193		96		99		139		94
Other loans		91		92		75		80		19
Loans		930		817		791		998		883
Leasing		0		0		1		5		5
Other loans		0		9		10		10		13
Total CER adjustable assets		1,139		826		1,012		1,322		1,017
CER adjustable LIABILITIES
Deposits		560		303		262		155		133
Other liabilities for financial intermediation		261		262		269		415		424
Subordinated debt		8		6		7		6		3
Total CER adjustable liabilities		829		571		538		576		560
NET ASSET CER EXPOSURE		310		255		474		746		457

4Q06 Results Page 9 of 19

	MACRO consolidated
FX CURRENCY POSITION In MILLION $
	IV 05		I 06		II06		III06		IV06
Cash		692		818		629		746		1,029
Government Securities		232		211		492		371		248
Loans		542		583		658		810		776
Other receivables from financial intermediation		355		337		545		298		274
Other Loans		12		11		12		12		14
Other assets		0		0		6		0		0
TOTAL ASSETS		1,833		1,960		2,342		2,239		2,343
Deposits		1,093		1,333		1,399		1,665		1,592
Other liabilities from financial intermediation		393		441		677		443		426
Other liabilities		3		5		3		4		4
Subordinated notes		0		0		0		50		505
Provisions		0		6		6		0		0
TOTAL LIABILITIES		1,489		1,785		2,085		2,162		2,527
NET FX POSITION		344		175		257		77		-184

RELEVANT AND RECENT EVENTS AND RECENT EVENTS

• In November 2006, Banco de Tucuman’s shareholders meeting approved a capital increase through the issuance of shares.  In January 2007, Banco Macro subscribed to these shares and, as a result, the Bank’s stake in Banco de Tucuman has grown to 89.92%.

• In December 2006, Banco Macro issued USD150 million in a 30-year Tier-1 perpetual bond.  Banco Macro was the first Argentine company to issue this type of bond.

• In December 27th 2006, the Argentine Supreme Court ruled on a specific “amparo” trial of a depositor stating that the involved bank had to give back the deposit converted into pesos at $1.40 rate, adjusted by inflation plus a 4% annual interest.  This statement could be used by other depositors in the system. Banco Macro has an “intangible asset” account of $54.4 million related to both: former “amparos” and the estimates for the probable consequences of the abovementioned Court decision.

• In January 2007, Banco Macro issued a USD150 million 10-year senior bond at a rate of 8.5%.

4Q06 Results Page 10 of 19

QUARTERLY CONFERENCE CALL

A conference call to discuss this press release will be held tomorrow February 28, 2007 at 2:00p.m.  Buenos Aires time (12:00 p.m., New York time), with the presence of Jorge Pablo Brito (Board member), Guillermo Goldberg (Deputy General Manager) and Jorge Scarinci, Financial and Investor Relations Manager.  Dial in information:

(877) 704-5379 (Within de U.S.)

(913) 312-1293 (Outside de U.S.)

Conference ID: 2349771

DISCLAIMER

This press release includes forward-looking statements.  We have based these forward-looking statements largely on our current beliefs, expectations and projections about future events and financial trends affecting our business.  Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements, including, among other things: inflation; changes in interest rates and the cost of deposits; government regulation; adverse legal or regulatory disputes or proceedings; credit and other risks of lending, such as increases in defaults by borrowers; fluctuations and declines in the value of Argentine public debt; competition in banking, financial services; deterioration in regional and national  business and economic conditions in Argentina; and fluctuations in the exchange rate of the peso.

The words “believe,” “may,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar words are intended to identify forward-looking statements.  Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition.  Forward-looking statements speak only as of the date they were made, and we undertake no obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors.  In light of the risks and uncertainties described above, the forward-looking events and circumstances discussed in this press release might not occur and are not guarantees of future performance.

This report is a summary analysis of Banco Macro’s financial condition and results of operations as of and for the period indicated.  For a correct interpretation, this report must be read in conjunction with all other material periodically filed with the Comisión Nacional de Valores (www.cnv.gov.ar), the Securities and Exchange Commission (www.sec.gov), the Bolsa de Comercio de Buenos Aires (www.bolsar.com.ar) and the New York Stock Exchange (www.nyse.com).  In addition, the Central Bank (www.bcra.gov.ar) may publish information related to Banco Macro as of a date subsequent to the last date for which the Bank has published information.

Readers of this report must note that this is a translation made from an original version written and expressed in Spanish.  Consequently, any matters of interpretation should be referred to the original version in Spanish.

4Q06 Results Page 11 of 19

INVESTOR RELATIONS CONTACTS:

In Buenos Aires:
Jorge Scarinci, CFA
Financial and IR Manager
Tel: +5411-5222-6730
E-mail: investorelations@macro.com.ar
Visit the Bank’s website at http://www.macro.com.ar

4Q06 Results Page 12 of 19

BALANCE

	MACRO consolidated
BALANCE SHEET In MILLION $
	IV 05		I 06		II06		III06		IV06
ASSETS		9,488		9,828		11,496		13,578		14,505
Cash		1,189		2,127		1,783		2,050		2,627
Government Securities		2,992		2,124		2,685		3,227		3,223
Loans		3,427		3,680		4,696		6,005		6,527
To the non-Financial Government Sector		645		631		617		784		774
To the Financial Sector		81		103		115		237		437
To the non-financial private sector		2,701		2,946		3,964		5,200		5,525
-Overdrafts		433		455		948		1,150		1,103
-Discounted documents		434		348		382		510		544
-Mortgages		298		295		347		417		426
-Pledges		230		245		256		299		301
-Consumer		477		587		834		1,104		1,431
-Credit cards		241		274		306		453		498
- Other		779		869		996		1,172		1,132
- Less: int. doc., cotiz dif.		57		63		73		95		90
Provisions		-248		-190		-178		-216		-209
Other receivables from financial intermediation		1,080		1,066		1,428		1,153		915
Investments in other companies		14		14		14		15		10
Other receivables		172		175		157		186		193
Other assets		614		642		733		942		1,010
LIABILITIES		7,998		7,796		9,434		11,410		12,190
Deposits		6,565		6,446		7,756		9,688		10,071
From the non-financial government sector		823		659		1,328		1,452		1,296
From the financial sector		5		6		6		11		5
From the non-financial private sector		5,737		5,781		6,422		8,225		8,770
-Checking accounts		1,036		1,150		1,235		1,668		1,876
-Savings accounts		1,101		1,040		1,189		1,624		2,097
-Time deposits		3,222		3,257		3,632		4,514		4,381
- Other		378		334		366		419		416
Other liabilities from financial intermediation		1,143		1,064		1,418		1,352		1,237
Subordinated corporate bonds		12		12		13		57		508
Other liabilities		278		274		247		313		374
STOCKHOLDERS´ EQUITY		1,490		2,032		2,062		2,168		2,315
LIABILITIES + STOCKHOLDERS´ EQUITY		9,488		9,828		11,496		13,578		14,505

4Q06 Results Page 13 of 19

	SUQUIA
BALANCE SHEET In MILLION $
	IV 05		I 06		II06		III06		IV06
ASSETS		2,855		3,034		3,277		3,386		3,702
Cash		406		625		468		514		518
Government Securities		1,105		955		974		831		726
Loans		1,154		1,210		1,526		1,580		1,789
To the non-Financial Government Sector		243		249		227		229		233
To the Financial Sector		0		26		48		25		196
To the non-financial private sector		911		935		1,251		1,368		1,403
-Overdrafts		153		121		263		213		191
-Discounted documents		122		128		141		152		172
-Mortgages		158		165		169		176		190
-Pledges		163		172		180		175		173
-Consumer		91		107		129		159		205
-Credit cards		79		91		98		110		119
-Other		149		156		276		347		320
- Less: int. doc., cotiz dif.		36		37		38		37		33
Provisions		-40		-42		-43		-43		-43
Other receivables from financial intermediation		40		77		117		51		232
Investments in other companies		0		0		0		185		195
Other receivables		37		31		41		42		40
Other assets		113		136		151		182		202
LIABILITIES		2,383		2,515		2,703		2,753		2,971
Deposits		2,070		2,156		2,296		2,437		2,482
From the non-financial government sector		1		2		3		2		3
From the financial sector		3		3		3		3		1
From the non-financial private sector		2,066		2,151		2,290		2,432		2,478
-Checking accounts		522		549		586		606		634
-Savings accounts		410		417		449		444		464
-Time deposits		948		1,020		1,099		1,224		1,228
-Other		186		165		156		159		152
Other liabilities from financial intermediation		256		297		349		257		426
Subordinated corporate bonds		0		0		0		0		0
Other liabilities		57		62		58		59		63
STOCKHOLDERS´ EQUITY		472		519		574		633		731
LIABILITIES + STOCKHOLDERS´ EQUITY		2,855		3,034		3,277		3,386		3,702

4Q06 Results Page 14 of 19

	NBB
BALANCE SHEET In MILLION $
	III06		IV06
ASSETS		2,633		2,868
Cash		308		349
Government Securities		895		804
Loans		1,145		1,177
To the non-Financial Government Sector		175		179
To the Financial Sector		70		80
To the non-financial private sector		929		946
- Overdrafts		418		336
-Discounted documents		111		131
-Mortgages		66		66
-Pledges		50		60
-Consumer		67		103
-Credit cards		124		143
-Other		73		83
- Less: int. doc., cotiz dif.		21		24
Provisions		-29		-28
Other receivables from financial intermediation		144		383
Investments in other companies		1		1
Other receivables		16		22
Other assets		124		132
LIABILITIES		1,761		1,953
Deposits		1,431		1,409
From the non-financial government sector		14		13
From the financial sector		4		1
From the non-financial private sector		1,413		1,395
-Checking accounts		354		338
-Savings accounts		359		376
-Time deposits		631		601
-Other		69		80
Other liabilities from financial intermediation		299		507
Subordinated corporate bonds		0		0
Other liabilities		31		37
STOCKHOLDERS´ EQUITY		872		915
LIABILITIES + STOCKHOLDERS´ EQUITY		2,633		2,868

4Q06 Results Page 15 of 19

RESULTS

	MACRO consolidated
INCOME STATEMENT
In MILLION $	IV05		I06		II06		III06		IV06
Financial income		218		211		261		318		365
Interest on cash and due from banks		2		2		2		4		3
Interest on loans to the financial sector		2		3		4		4		6
Interest on overdrafts		15		16		24		37		43
Interest on documents		10		10		10		15		22
Interest on mortgages		10		9		11		13		15
Interest on pledges		8		9		10		12		13
Interest on credit cards		5		5		7		8		10
Interest on other loans		36		45		57		70		88
Income from government & private securities		64		50		77		99		98
Results of guaranteed loans		7		6		7		8		9
Interest on other receivables from fin. intermediation		4		4		3		4		4
CER adjustment		30		29		19		15		22
CVS adjustment		1		0		0		0		1
Other		26		22		30		29		31
Financial expense		-76		-76		-86		-107		-126
Interest on checking accounts		-1		-1		-2		-3		-5
Interest on saving accounts		-1		-2		-1		-2		-2
Interest on time deposits		-33		-36		-49		-70		-78
Interest on loans from the financial sector		-0		-0		-0		-0		-0
Other Interest		-4		-3		-3		-5		-4
Interest on other receivables from fin. intermediation		-3		-4		-3		-4		-4
CER adjustments		-24		-19		-14		-9		-13
Other Interest		-9		-12		-13		-14		-20
Net financial income		142		135		175		211		239
Provision for loan losses		-13		-9		-14		-19		-17
Fee income		85		89		98		123		142
Fee expense		-17		-18		-21		-26		-28
Net fee income		68		71		77		97		114
Administrative expenses		-128		-128		-145		-169		-210
Minority interest		0		0		0		-2		-1
Net other income		29		13		16		15		53
Earnings before income tax		98		82		109		134		178
Income tax		-23		-9		-10		-27		-31
Net income		75		73		99		106		147

4Q06 Results Page 16 of 19

	SUQUIA
INCOME STATEMENT
In MILLION $	IV05		I06		II06		III06		IV06
Financial income		77		89		86		92		91
Interest on cash and due from banks		1		1		1		0		1
Interest on loans to the financial sector		1		2		1		0		2
Interest on overdrafts		8		7		9		11		10
Interest on documents		6		5		5		5		5
Interest on mortgages		6		5		5		6		7
Interest on pledges		5		6		7		7		7
Interest on credit cards		1		1		2		2		3
Interest on other loans		7		9		10		12		15
Income from government & private securities		15		33		27		30		20
Net income from options		0		0		0		0		0
Results of guaranteed loans		2		2		2		2		3
Interest on other receivables from fin. intermediation		0		0		0		3		1
CER adjustment		16		12		7		4		6
CVS adjustment		1		0		0		0		0
Other		7		6		10		10		11
Financial expense		-22		-25		-25		-27		-33
Interest on checking accounts		-0		-0		-0		-0		-0
Interest on saving accounts		-1		-0		-0		-1		-1
Interest on time deposits		-10		-12		-14		-18		-20
Interest on loans from the financial sector		-0		-0		-0		-0		-0
Other Interest		-1		-1		-1		-1		-1
CER adjustments		-8		-9		-7		-4		-6
Other Interest		-2		-3		-2		-3		-5
Net financial income		55		64		61		65		58
Provision for loan losses		9		-4		-2		-1		-7
Fee income		32		32		33		35		36
Fee expense		-9		-9		-9		-10		-10
Net fee income		23		23		24		25		26
Administrative expenses		-38		-41		-40		-39		-41
Net other income		25		7		8		9		61
Earnings before income tax		74		49		51		59		97
Income tax		0		0		0		0		0
Net income		74		49		51		59		97

4Q06 Results Page 17 of 19

	BISEL
INCOME STATEMENT
In MILLION $	III06		IV06
Financial income		42		74
Interest on cash and due from banks		0		0
Interest on loans to the financial sector		1		1
Interest on overdrafts		7		16
Interest on documents		4		9
Interest on mortgages		1		2
Interest on pledges		1		2
Interest on credit cards		1		2
Interest on other loans		0		0
Income from government & private securities		20		31
Net income from options		0		0
Results of guaranteed loans		1		2
Interest on other receivables from fin. intermediation		0		1
CER adjustment		3		5
CVS adjustment		0		0
Other		3		3
Financial expense		-10		-21
Interest on checking accounts		-0		-0
Interest on saving accounts		-0		-1
Interest on time deposits		-5		-10
Interest on loans from the financial sector		0		-0
Other Interest		-1		-1
Income from government & private securities		0		0
Net income from options		0		0
Interest on other receivables from fin. intermediation		-0		-0
CER adjustments		-3		-6
Other Interest		-1		-3
Net financial income		32		53
Provision for loan losses		-4		-6
Fee income		12		26
Fee expense		-2		-3
Net fee income		10		23
Administrative expenses		-22		-42
Minority interest		0		0
Net other income		6		15
Earnings before income tax		22		43
Income tax		0		0
Net income		22		43

4Q06 Results Page 18 of 19

RELEVANT RATIOS

	MACRO consolidated
RATIOS	IV 05			I 06			II 06			III 06			IV 06
Profitability & performance
Net interest margin (*)		6.2	%		6.3	%		7.4	%		7.0	%		7.1	%
Fee income ratio		32.5	%		34.4	%		30.5	%		31.5	%		32.4	%
Efficiency ratio		60.7	%		62.5	%		57.9	%		54.7	%		59.5	%
Fee income as a percentage of adm expenses		53.5	%		55.0	%		53.0	%		57.6	%		54.5	%
Return on average assets (*)		2.8	%		3.1	%		3.2	%		2.8	%		3.6	%
Return on average equity (*)		19.7	%		19.4	%		19.5	%		21.0	%		22.2	%
Liquidity
Loans as a percentage of total deposits		56.0	%		60.0	%		62.8	%		64.2	%		66.9	%
Liquid assets as a percentage of total deposits		61.3	%		65.9	%		62.1	%		59.2	%		65.2	%
Capital
Total equity as a percentage of total assets		15.7	%		20.7	%		17.9	%		16.0	%		16.0	%
Regulatory capital as a percentage of risk weighted assets		31.0	%		38.8	%		31.6	%		27.7	%		31.3	%
Asset Quality
Provision for loan losses over total loans		6.7	%		4.9	%		3.7	%		3.5	%		3.1	%
Non performing loans as a percentage of total loans		5.3	%		3.5	%		2.4	%		2.4	%		2.0	%
Allowances as a percentage of non performing loans		126.2	%		141.0	%		154.2	%		186.1	%		154.3	%
Amparos as a percentage of equity		2.9	%		2.0	%		2.5	%		2.3	%		3.2	%

(*) Calculated annualizing acumulated earnings.

4Q06 Results Page 19 of 19

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:  February 27, 2007

MACRO BANK INC.
By:	/s/ Luis Cerolini
Name:	Luis Cerolini
Title:	Attorney-in-fact