efficiency - Banco Macro
Transcription
efficiency - Banco Macro
Corporate Social Responsibility (CSR) Report 2011 RESPONSIBILITY development PROFESSIONALISM ETHICS COMMITMENT trust solidarity efficiency innovation sustainability Corporate Social Responsibility (CSR) Report 2011 Corporate Social Responsibility (CSR) Report 2011 Contents 6 12 20 24 30 36 70 80 88 94 Presentation of the Corporate Social Responsibility (CSR) Report Introduction to the Bank Corporate Governance Transparent Management Our Corporate Social Responsibility (CSR) Management Our Value Chain Social Investment Environmental Impact Prevention 2011 Performance and New Challenges GRI Indicators Table and Global Compact (Communication on Progress) Presentation Of The Corporate Social Responsibility Report (CSR) 6 /7 RESPONSIBILITY A Letter From Jorge H. Brito, President With great enthusiasm, I am writing these pages to greet you, to reflect and to invite you once again to go through this Corporate Social Responsibility Report and to go on working together for a better Bank and a better country. When talking about 2011, the words “efficiency” and “growth” come to my mind. Throughout the year, we worked together with managers to reach a better efficiency because we truly believe that the sustained corporate growth and the continuously improved products and services we offer are the basis of our management. We, therefore, focus on optimizing the Group’s performance in all aspects. The first stage consisted in assessing who we are and what we want to be together with those responsible in each area. On those grounds, we informed, contacted and trained all our collaborators and we provided them with the tools to bring innovation to their daily tasks, to overcome bureaucracy and to improve processes. Thus, we have made important progress in the comprehensive risk management, we have analyzed our CSR management based on a diagnosis and stakeholders mapping, and we have visited suppliers throughout the country to consolidate our bond between us. We have also gone further in energy, water and paper saving in every office and branch. In order to improve our own processes, we carried out the first ISO 9001:2008 certification in our Call Center and, once again, we sent the satisfaction survey to the clients in the country. For the sake of a better management of social investment programs, we estimated the impact of our actions by means of our very own measuring tool. And we still stuck to the 10 principles of the UN Global Compact which we adhered to in 2009. I am proud to inform that all these efforts meant an important growth. As an example, the Agro and Small Enterprises segments increased by 63% and 58%, respectively. We added 17 branches to our net. We managed to keep our leading position and we widened our market share by over 15%. Through the social action program, over 177,000 people were benefitted. I want to thank all members of Macro Group. Their eagerness and dedication in their daily tasks allow us to consolidate more and more as a truly federal, sound, sustainable and socially responsible organization. Jorge Horacio Brito President A Letter From Milagro Medrano, IR (Institutional Relations) Manager Every year, we reassure our willingness to cooperate with the sustainable development in Argentina. We understand that our growth depends mainly on the bond with our clients, suppliers, collaborators, the environment and the society as a whole. Under this principle, we incorporate the CSR in all activities and business areas of the Group. We are focused on respecting, adapting to and encouraging the communities where we operate. Therefore, in 2011 we carried out a stakeholders mapping and a self-diagnosis exercise on CSR management, we incorporated more and better tools to measure the impact of our social investment and actions, and we assessed the social and environmental aspects in credit lines in Corporate Banking. We also systematized environmental indicators, we started to estimate the carbon footprints and we organized workshops to plan short, medium and long-term practices. In this fifth report on Corporate Social Responsibility, you will find information about Banco Macro’s sustainability management, assessed during the year by a group of referents from all areas coordinated by the CSR Management. We have used the G3 Guide of the Global Reporting Initiative (GRI), applying a C Level to present the information. At the same time, we have carried out a Materiality Analysis according to the Technical Protocol of the GRI in the framework of launching the new G3.1 Guide. As you can see, there has been a rise in the amount of indicators and we have adapted protocols to the reality of our bank and the local situation. We aim to be nearer and we manage to do so through concrete actions. We are nearer our collaborators, who we train directly or by means of our Edumacro platform, generating a better working environment and providing them with more and better benefits. We are nearer our supplies, among which privilege is given to local companies and SMEs. We are nearer our clients with more and better branches, ATMs and SSTs, providing them with tailor-made products and improving our capacity to respond to their claims and suggestions. We are nearer the environment, deepening our energy saving and waste disposal policy. And finally, we are nearer the communities, with an emphasis on the growth in different regions and the appreciation of our culture, caring especially for children and the youth who show their commitment and willingness to be better. I invite you to read this report carefully. It was created to inform about all aspects of our management. For us, it is an essential review as it lets us make plans based on reality, with optimism and focusing, as usual, on the long term. María Milagro Medrano RI (Institutional Relations) Manager 2011 Highlights 1,176 2 100,000 31,430 17 million pesos of results. million individual clients. clients surveyed in 317 branches of Banco Macro and 25 of Banco Tucumán. 68 places where we are the only banking institution. new branches, totaling 413 in the country. 191 new ATMs and 62 SSTs. 88% 197 of the process of Risk Management optimized upon a strategic management and certification plan. corporate clients. people took part in domestic search and 192 were promoted. 616 people became members of Macro Group’s staff. 10 / 11 503 training and professional development activities. 400 30 177,000 939 members of Club Macro that enjoyed better facilities with more pools and new games. beneficiaries of our social actions. 5% interannual drop in monthly printings in the last quarter of 2011. 333 collaborators, trained in preventing money laundering and terrorism financing, passed their knowledge on to the rest of the staff. visits to suppliers along the country within the framework of the program known as “Conozca a su proveedor” (“Get to know your supplier”). collaborators in the country took active part in the corporate volunteers program. 65,438.8 kWh of energy saved through December 2011 as from the beginning of the energy saving program. 75 social organizations together in social investment programs addressed to the community. Introduction To The Bank 12 /13 development Introduction To The Bank We set out as an Argentine financial institution in 1985 and as from 1995 we have been operating as a minority bank focused on segments with low banking levels. Today, after almost three decades, our results show stability and continuity in generating incomes, as wells as productivity and efficiency in the use of resources throughout these years. Our project Innovation, efficiency and being near the client with high quality services, a better internal order, simplicity and efficiency, and team work. Financial aspects We work to grow beyond the market and for a better administration of our expenses. Clients We work to be nearer the client, making the difference through a better quality service. One more year of growth, solvency and management responsibility. Our mission To be a leading bank offering its employees, through ethical and profitable activities, a working environment where to develop and render outstanding services to clients and a sense of responsibility shared with the community, respecting the interests of minority shareholders. Our philosophy We build a country of opportunities where we invest most of our assets in search of a successful country, fairer and more equitable for everyone. This philosophy does not oppose but complements the search of profitability –the essence of our growth-. Our Direction may show that we have managed to widen our commercial net by reinvesting profits, thus generating new employment sources. Our values Human Resources We work for a more integrated team, connected and aligned, which lets us be more professional each day. Processes We work dynamically in search of innovation to be more efficient in our processes. Financial aspects • We showed once again our financial potential and solvency, reflected in a net result of $1,176 million, up 16% on the $ 1,010 million of the previous year. • We exceeded the growth registered by the financial system in personal loans. In 2011, we soared by an interannual 56%, up ten points on the growth of the financial system (46%). This performance let us keep our leading position and enhance our market share by 15.48%. Growth Innovation Service Organization Working Environment 14 / 15 Clients • We offer the widest branches net in the Argentine private sector: 452 premises throughout the country, 943 ATMs and 790 SSTs. This turns us into the most present banking institution in Argentine provinces. • The Agro and Small Enterprises segments –especially Microenterprises–, grew by 63% and 58%, respectively, providing the assets portfolio with a greater atomization and stability. • The active portfolios of the Individual Banking registered a rise of 60.6%. This meant a higher market share and the second ranking position of Macro Group among financial institutions, according to the volume of its Personal Loans and Credit Cards portfolios. • We launched special insurances for retired people and discounts in products and services according to their needs. • We evaluated responses given to our clients’ claims. Human Resources • So as to achieve a better domestic efficiency, we worked together with managers to encourage our collaborators’ professional development within a good working environment, providing them with the tools to innovate in their daily tasks and to improve their processes. Processes • We incorporated social and environmental criteria and requirements in our Credits Policy for Corporate Banking. • We broadcasted in national and regional media through over 1 million seconds on 67 TV channels, 6.3 million seconds in 147 radio stations, 280,000 seconds in cinemas and impacts in 68 graph and 42 digital media. We also got nearer our clients and non-clients through advertising in over 40 web sites and 340 e-mailing items; this provided us with over 13 million contacts. • To run social investment programs efficiently, we estimated the impact of our actions with a measuring tool based upon the LBG model guidelines. • Education, sustainable work, nutrition, social medicine, health and corporate volunteer service are still the axis in our actions, focused mainly on the provinces where we have a sustained relationship with the community. We also give priority to low-income children and youth that show commitment and willingness. Macro Group’s Banking Structure (% over Equity) Banco Macro S.A. Banco del Tucumán S.A. 89,93% Banco Privado de Inversiones S.A. 99,99% Macro Bank Limited 99,99% In 2011, we showed once again our financial potential and solvency, offering a wide net of branches, internal efficiency and a strong commitment to improving processes. Introduction To The Bank Banco Macro in figures Total number of branches (Share in the financial sector) Geographical Representation 500 400 413 (10%) (1) 402 (10%) 408 (10%) 2010 2009 300 200 100 0 2011 (1) In 2011, there were 8 mergers of branches: 7 in the province of Santa Fe and 1 in the province of Río Negro. Total number of ATMs 1,000 943 872 836 2010 2009 790 728 713 2011 2010 2009 800 600 400 200 0 2011 Total number of SSTs 800 600 400 200 0 Branches 16 / 17 2011 2010 2009 Assets 41,442 33,524 26,859 Loans to the private sector 24,570 16,186 11,527 Liabilities 36,723 29,371 23,500 Deposits 29,167 23,407 18,593 of fiscal year 4,720 4,153 3,359 Financial incomes 4,699 3,728 3,860 Net incomes for services 1,541 1,039 824 Interests on loans 3,798 2,395 2,129 Financial expenditure (1,719) (1,330) (1,512) Administrative expenses (2,489) (1,917) (1,522) Net results 1,759 1,305 1,452 and third parties’ share 75 71 Paid dividends 505 208 150 1,176 1,010 752 Financial indicators (millions of pesos) (1) Net assets at the end (2) Different profits and losses (3) (41.4) Financial statement of the fiscal year (1) Positive results were considered for profits and negative ones, between brackets, for losses. Leasing included. (2) Dividends paid during those periods. (3) 2011 Taxes paid in Argentina 2010 2009 (millions of pesos) Incomes tax (658) (366) (659) Gross incomes tax (293) (182) (144) (73) (58) (43) Financial transactions tax (1) (1) According to Act 25413, Tax on Direct Debits and Bank Loans. Suppliers 2011 2010 2009 Number of suppliers 12,634 11,361 10,130 Percentage of national suppliers 56.1% n/a n/a n/a: Not available information Introduction To The Bank Clients Number of individual clients (1) Number of corporate clients Number of credit cards issued (2) 2011 2010 2009 2,609,763 2,433,719 2,313,448 108,129 103,206 96,129 429,792 226,525 122,986 Total number of holders and additional holders with at least one product a month included. Insurance customers, safety boxes or contingencies are not included. Information gathered in April 2011. (1) Including authorized and preembossed accounts, both individual and Agro, Distribution and Corporate. (2) Employees 2011 2010 2009 Number of collaborators (1) 8,405 8,154 7,810 Female collaborators 37% 34% 34% Average age 42.44 42.77 42.83 Average seniority 15.16 15.38 15.64 Total of Financing (1) The rise is due to the acquisition of Banco Privado de Inversiones (Private Investment Bank) in September 2010. (millions of pesos) (1) 30,000 24,570 2011 Environment 2010 20,000 2009 16,186 11,527 10,000 Clients members of the e-resumen (e-statement) service 138,903 84,704 Recycled paper (kg) 57,018 (1) 42,736 26,700 999 1,284 720 Number of furnishings donated 1,409 1,007 1,174 IT equipment donated Recycled plastic (kg) (2) 0 45,934 2011 (1) 2010 2009 Total of Loans and Leasing included. 286 188 186 Ream consumption 219,900 202,729 199,326 Quantity of printings 130,951,403 121,209,779 94,332,782 Shareholding Structure of Banco Macro Energy consumption (in kWh) 16,201,094 n/a n/a through December 2011 CO2 emissions (scope 2) 4,915.92 n/a n/a (3) (4) It corresponds as follows: 25,839 to Buenos Aires, 3,670 to Tucumán, 20,570 to Córdoba, 1,319 to Salta and 5,620 to Rosario. (1) (2) It corresponds to Buenos Aires. (3) Complete PC equipment donated to institutions with education projects related to new education technologies. (4) Scope 2: Indirect Emissions. They correspond to those arising from the consumption of energy purchased from the net (external source) Emissions estimated according to the “World Resources Institute (2009) GHG Protocol tool for stationary combustion. Version 4.1” n/a: not available information Controlling shareholders: 42% ADR: 21% Others: 6% Anses (National Social Security Administration): 31% Floating: 27% 18 / 19 Banco Macro’s organization chart 2011 Acknowledgements We were acknowledged as the Best Bank in the Argentine Northwest Region for eight consecutive years and awarded the Sol Andino for our career, growth and contribution to the region. We received the Silver Sol Andino as the most important award of all fields considered for nominations. We were acknowledged as “Socios regionales” (“Regional Partners”) by Impulsar Foundation, for the project associated with Impulsar headquarters in the province of Misiones. Within the framework of the initiative called "Construyendo puentes hacia un mundo laboral más inclusivo" (“Building bridges to a more inclusive working world”) launched by Manpower, we were appointed as “Socios en la inclusión” (“Partners in the inclusion”) because of our contribution to the inclusion of women over 45 years of age in the provinces of Salta and Córdoba. Executive Committee Jorge Horacio Brito Jorge Pablo Brito Marcos Brito Human Resources Constanza Brito Director Investment Banking and New Projects Sebastián Palla Audit Carmen Estévez Money Laundering Prevention Luis Cerolini Director Institutional Relations Milagro Medrano Legal Ernesto López Relation with Controlling Organs Alberto Figueroa Management Control Alberto Figueroa Strategic alliances Operation Risk Pablo Siwacki Deputy General Management Ernesto Medina IT Security Antonio Carnuccio Deputy General Management Guillermo Goldberg Distribution and Sales Brian Anthony Individuals Francisco Muro Accounting and Taxes Daniel Violatti Administration Gerardo Álvarez Corporations Horacio Sistac Governance Miguel León Gurfinkiel Operations Eduardo Covello Security Rodolfo Lehmann Credit Risk Ana María Marcet Finance Jorge Scarinci Organization and Processes Constanza Brito Director Systems Claudia Cueto CONAETI and Norte Sustentable are new alliances. Corporate Governance 20 /21 PROFESSIONALISM Corporate Governance The long-term sustainable development is our Board’s vision Corporate Governance The Board of Directors is the ultimate administrative body of the Bank, responsible for fixing objectives and Commercial and Risk Management policies. It is chaired by Jorge Horacio Brito, and is made up of 12 Permanent Members chosen by the Ordinary General Meeting of Shareholders to hold office for three years. They meet once a month or whenever required by the interests of the Bank. Members of the Board Jorge Horacio Brito President Delfín Jorge Ezequiel Carballo To be a member of the Board, it is a must to have experience, solid knowledge and enough training to act in the banking business, and to fulfill the requirements set by Banco Central de la República Argentina (BCRA – Central Bank of the Argentine Republic). The latter and the attendants to the Meeting evaluate the Directors’ backgrounds prior to holding office. And, before the ordinary meeting, the attendants analyze the Board’s management and performance. It is not deemed appropriate that the Board assess its own performance before such meeting. Vicepresident Jorge Pablo Brito Permanent Director Juan Pablo Brito Devoto Permanent Director Luis Carlos Cerolini Permanent Director Carlos Enrique Videla Independent Permanent Director The Board’s remuneration is approved by the attendants to the Meeting, fixing an amount according to reasonability criteria, to the results of each management period, to provisions of the Commercial Companies Act No 19550, its amendments and appendixes, and to the Regulations of the National Securities Exchange Commission (CNV in Spanish). Alejandro Macfarlane Independent Permanent Director Guillermo Eduardo Stanley Independent Permanent Director Constanza Brito Permanent Director Besides, and following the regulations of the CNV and of the US Securities Exchange Commission, SEC, Banco Macro S. A. has an Audit Committee made up of three independent Directors. Marcos Brito Permanent Director Rafael Magnanini Permanent Director Communication with shareholders Roberto José Feletti The area of Relationship with Investors is the main contact point between the Board and the shareholders. Therefore, it organizes periodic phone conferences with investors to present quarterly reports on results. Likewise, the financial information is regularly published in our corporate web site: http://www.macro.com.ar/scp/inv.asp. Permanent Director Mario Eduardo Bartolomé Deputy Director Ernesto Eduardo Medina Deputy Director Delfín Federico Ezequiel Carballo Deputy Director Fernando Raúl García Pulles Independent Deputy Director 22 / 23 Which committees do the Bank’s directors make up? The Board’s members take active part in daily management, contributing their experience and knowledge and composing different committees: Executive Committee Accountable for the Company’s business management and for informing the Board about the activities carried out. Assets and Liabilities Committee It main function is to fix the institution’s financial strategy, by means of an analysis of the markets and fixing assets, liabilities, market risk management, liquidity, rates and currency policies. Risk Management Committee It is responsible for following up the activities of the High Management as regards credit risk, market, liquidity, operation, fulfillment and reputation management, among others; and it advises the Board on the entity’s risks. Credit Committees Their liabilities are closely related to credit risk management and administration. Through our committees we run our business in a responsible, suitable, efficient and professional way. Recovery Committees They are liable for applying the predefined policies for granting deductions and refinancing. IT Committee This committee is accountable for controlling the proper functioning of the IT aspects. Internal Audit Committee It periodically assesses the proper performance of internal control systems and contributes to improving its efficiency. It also takes part in planning external audits and Financial Statements, annually and quarterly, and has updated information about the external auditors’ reports and about all the relevant accounting information. Besides, it analyzes the operations that generate conflicts of interest with the members of social organs or with controlling shareholders. Money Laundering Prevention Committee It is in charge of planning and coordinating the compliance with policies fixed by the Board. See the 2011 Annual Report of the Bank for further information about the members of the committees. Participation of minority shareholders in the Meeting Banco Macro considers it is essential to promote and foster the attendance to and active participation of minority shareholders in the meetings. The Board permanently cares for the legally and statutorily defined rights of all shareholders. Likewise, there are no limitations to the participation of shareholders. Transparent Management 24 /25 ETHICS Transparent Management Constant updating and monitoring set the pace of all our processes The importance of the internal control for the sake of business integrity As a financial entity, a transparent management is an essential factor for business success and to render reliable services. That is why we work with integrity, ethical and moral values and suitability. We count on an internal Control System that, in 2011, let us carry out a strategic risk management plan and get the certification of our operations under the regulations of the US Securities Exchange Committee (SEC) and the Sarbanex Oxley Act (SOX). In this context, our main achievement was the 88% of efficiency in the risk management and administration process, as the different areas updated and incorporated useful information in their performance without any necessary change in their usual operations. Our business performance frame Banco Macro complies with the national and international regulations and we also have internal codes and policies that allow us to guarantee an ethical and responsible performance to all our stakeholders. As a financial entity, we are ruled by the BCRA, which established the “Lineamientos para el Gobierno Societario de las Entidades Financieras” (“Guidelines for Corporate Governance of Financial Entities”) in 2011. Moreover, Banco Macro S. A. is a public corporation and quotes part of its equity at the Buenos Aires Stock Exchange; this means it is subject to the regulations issued by the National Securities Exchange Commission, so it annually presents the Report on Corporate Governance. Our shares also quote at the New York Stock Exchange. Therefore, we also comply with the standards related to corporate governance under section 303A of the NYSE Handbook of Listed Companies and its amendments, qualifying as private foreign issuer. We are also subject to the following Codes: • Code of Corporate Governance: reinforces the concepts of the decree on the Transparent Public Offering Regime No 677/01 (O.B: 28/05/01). • Code of Investors Protection: fixes guidelines and recommendations related to the compliance with investors’ protection regulations in the field of public offerings. • Code of Banking Practices: fosters the rights of financial services and products users and is issued by the Self-Regulation Council of the Code of Banking Practices of the Argentine Republic. • Code of Ethics: spans first line officers and directors. • The company’s Code of Conduct: applies to all our collaborators. The Internal Audit Management, made up of 98 employees, issued 715 reports on the validations of processes of the branches net, on the evaluations of Risk Management and on the compliance with the regulations that rule the banking and financial activity. The reports also included the regulations designed by Banco Macro about the circuits that sustain our business and which are certified by the owners of the processes, including Systems and IT. 26 / 27 The fundamentals of our daily work We long for a working environment that stimulates responsibility, professionalism, commitment, results, loyalty, honesty, good communication and team work. We are sure that to achieve a pleasant working atmosphere, it is necessary to ground our daily relationships on mutual respect, trust, pleasant and simple manners, between peers and bosses as well as with suppliers and clients. It is also essential to carry out all the activities with the highest professional and personal ethical principles. In this sense, the Code of Conduct and the Code of Ethics* boost the basics for all members of the Bank to act in the same way and with the same values before similar situations. The shareholders’, clients’ and people’s trust largely depend on fulfilling these principles. Our aim is that all members of Macro Group will act according to the highest personal and professional integrity values. That is our reason for promoting respect for the code of conduct and the code of ethics; the latter signed by the High Management and the Board of Directors. Main aspects of the Code of Conduct: • Ethical Behavior • Conflict of Interests • Compliance with Regulations • Confidentiality • Private Property • Proper Use of the Group’s Resources and Premises • Institutional Representation of the Bank • Professional Counseling and Recommendations • Audits and Research • Money Laundering Prevention • Annual Affidavit * http://www.macro.com.ar/scp/codigoEtica.asp Transparent Management Risk Management Our Frame Risk Management Policy defines the business strategy, and the responsibilities, structures and functions of the Board of Directors, General Deputy Managers, Area Managers and the rest of staff. It is designed to identify events that may affect the organization, to tackle its effects within the risk limits fixed by the Board and to provide reasonable safety in achieving objectives. This year we have made important progress in risk management. On one hand, we consolidated the ACM Rsk tool for 100% of comprehensive risk administration and we automated the SOX certification process and the Operation Risk administration. This new methodology allowed the digital storage of part of document conservation, thus eliminating the use of physical files and generating an important saving of paper and document transfer. At the same time, we worked on adapting the Internal Audit procedures handbooks and on defining the control aims to be in line with the ACM Rsk tool. This let us identify the risks and controls comprised by each process and to optimize the audit work according to the risk levels. In the Bank, we have specialized areas that manage and administer business risk and get it into different groups: • Credit Risk according to every type of client. • Operation Risk over the Bank’s policies, programs and activities. • Risks associated with IT. • Market, liquidity and price risks, in the framework of economic trends and national and international financing situation. • Labor Risks to guarantee all our staff a safe working environment as regards health and security. • Fraud prevention and investigation, building strategies to optimize comprehensive safety standards related to prevention and neutralization of fraudulent activities. Prevention of money laundering and terrorism financing We perform an active role in fighting money laundering from illegal activities and terrorism financing, complying with the national and international regulations and fixing internal requirements and controls in each business line and area. So as to verify the fulfillment of our aims, we implemented periodic and independent reviews and audits to assess the program and the compliance with laws, regulations and rules in force. For this, we have a formal and permanent training and updating program for all our employees. This year twelve meetings were held, attended by 333 employees who, in turn, passed their knowledge on to their sectors and branches. This way, 2,556 employees and officers were trained in money laundering and terrorism financing prevention. Transparent management During this year, the Audit Management revised the handling of claims and the protection of personal data. It also carried out a review on the transparency related to the presentation of the information regime the entities use to publish the prices of different concepts associated with certain products and services (interest rates, commissions and charges, among others), characteristics of its offer (for example, methods and frequency) and the basic requirements each of them establishes for its acquisition or rendering. 28 / 29 As from 2012, the Board will provide for the formation of a Risk Management Committee, whose main function will be to guarantee an independent risk management and to coordinate the administration of different types of risks and their corresponding people responsible for it. Protection of personal data The Bank’s policies and procedures related to personal data privacy and protection are in line with the requirements set by Act No 25.326 and its amendments, the Regulatory Decree No 1558/2001 and the regulations of the National Direction of Personal Data Protection. Every employee with access to our clients’ personal data (stored in logical or physical data bases, such as, credit files) is bound to keep confidentiality over them and is subject to keeping and maintaining them. These liabilities survive the cancellation or annulment of data bases and the termination of contracts with the Bank. At the same time, we widened the scope of respect towards the information privacy in all our value chain, both with our suppliers and when we act as suppliers or service renderers for third parties. This way, handling the personal information in our data bases is exclusively contained within the rendering of a service to that third party or vice versa. During this year, we incorporated the analysis of social and environmental risks at the time of assessing an investment project into our Corporate Banking Credit Policy. Our Corporate Social Responsibility (CSR) Management 30 /31 COMMITMENT Our Corporate Social Responsibility Our practices, services and products respect (CSR) Management We are sure our contribution as financial entity is essential to the sustainable development in Argentina. CSR is part of our corporate culture and comprises all our activities and business areas. We also believe that building our corporate reputation must be based on an ethical and transparent management. Therefore, we carry out actions with an economic, social and environmental value and we make great efforts to consolidate the bond with our employees, clients and suppliers, with the media, the public sector, the environment and the society in general. The respect for people and for communities where we work is the core of our CRS Policy. Banco Macro’s CRS management evolves each year, in search of a large scope and adapting our business for the sake of sustainability. We focus on vulnerable sectors and on the creation of opportunities in each region of the country. For this purpose, we offer a wide tailor-made range of first quality financial services and products according to the client’s profile, and a responsible business impacts and risks management aimed at benefitting present and future generations. The CRS department reports to the area of Institutional Relations and directly to the Board of Directors, which in turns coordinates the Bank’s CRS Policy and articulates the implementation of CRS actions and projects with other areas. 2011 Achievements in CSR • Detailed mapping of our stakeholders. • Self-diagnosis of the Bank´s CRS management. • Tools to assess and systematize the impact of our social action and investment on the community. • Assessment of social and environmental aspects in Corporate Banking credit lines. • Systematization of environmental indicators. • Beginning of Carbon Footprints estimations. • Workshops with areas related to suppliers and environmental management to plan short, medium and long term CSR practices. 2012 Main Challenges in CSR Management Business-related • Increase in the number of GRI indicators in the 2011 CSR report. • Incorporation of CSR topics in surveys and tools usually used at the Bank. • In-site meetings with stakeholders to improve the CSR report. • Consolidation of RSE.32 / 33 Policy. the people and the communities we are related to. 32 / 33 Among the main substantial topics in our business, we deal with products and services for low-income people, environmental aspects when granting credits and the work with local communities; three actions that are a priority for Banco Macro in its CSR management. Stakeholders-related • Workshops with the HR department to plan CSR action lines in dealing with employees. • Newsletter for suppliers on CSR topics. • Detailed mapping of suppliers. • Training on CSR for SMEs clients. • Formalization of the environmental care policy. • Systematization of environmental indicators. • Internal and external awareness about environment. • Measurement of private social investment impact. Exercise on materiality for an efficient CSR management This year we deepened our exercise on Materiality4 Analysis following the Technical Protocol created by GRI in the framework of launching the new G3.1 –guide and the standard AA1000SES of the Accountability organization. Therefore, we asked our internal referents of the CSR Group (collaborators from different areas), specialized journalists and allied organizations for their opinion. Exercise on the selection of relevant topics to be worked on transversally to the Bank in the CSR field. 4 Relevant Topics for Banco Macro’s CSR Management 1. Products and services for low-income people. 2. Efficient resources management. 3. Provisions in orders not to finance companies that cause environmental damage. 4. Work with the community to boost local development, especially in communities where only Banco Macro is present. 5. Efficient waste disposal, such as technological ones. 6. Measurement of clients’ satisfaction level. 7. Training for employees. 8. Microfinance. 9. Protection of confidential data. 10.Corporate Volunteers Program. 11.Inclusive purchases with suppliers. 12.Alliances with clients. Our Corporate Social Responsibility (CSR) Management How we communicate with our main stakeholders Internal collaborators and trade unions: intranet, Visión Magazine, mails from the presidency, direct contact with branches, meetings with the president of the Bank, scheduled visits to branches, meetings between managers and work teams, suggestion box, Transparent Line and ProMacro meetings. Nearby communities, academic institutions and the third sector: analysis of the situation and impact measurement, web site (CSR section), institutional newsletter, field visits, follow-up meetings and permanent contact, visits to and exhibitions at universities. This way, during the year, journalists took part in a breakfast meeting to launch the RSE 2010 report and civil society organizations were contacted through e-mail and they filled out a written survey on the relevant aspects Banco Macro must consider in its strategy and CSR management. These results were crossed with the analysis of the Operation Group at the time of the training and reflection meeting on the direction of CSR in our entity5. Communication, an ally in business responsible management It is essential to hold permanent dialog with stakeholders for our CSR strategy to grow. Their opinions, suggestions and expectations about the Bank´s performance on economic, social and environmental aspects are always welcomed. Therefore, we develop direct communication channels with key people through whom we also render clear and transparent evidence. Likewise, we promote active listening spaces, such as surveys, meetings, conferences, among others. Clients: Call Centers, SSTs, Home Banking, Mobile Macro, branches, Megras centers, Center of payment for retired people, Transparent Line, satisfaction survey, institutional newsletter, web site, comparative studies on customers’ satisfaction and field studies. Shareholders: Annual Report, Shareholders Meeting, Code of Investor Protection, Transparent Line, quarterly reports. Suppliers: Web site, Call Centers, in-site meetings, Program called “Conozca a su proveedor” (“Meet your Supplier”) (visits to suppliers), Transparent Line, e-mailing. Media: Press newsletters, breakfast meetings with journalists and press conferences. Financial Industry: Field studies, sector meetings, information exchange. International, governmental and national regulatory organs: Participation in forums and seminar, corporate web site, creation of dialog spaces. For further information about this meeting, see section “Self-diagnosis and mapping of stakeholders” in this chapter. 5 34 / 35 Self-diagnosis and mapping of stakeholders This year we made a deep analysis of our CSR management based on the exercise of diagnosis and mapping of stakeholders. The Work Team, made up of all areas of the Bank, participated in its implementation, with the approval of the Board. Through the diagnosis, we evaluated the position of the Bank as regards Corporate Social Responsibility (CSR). This let us systematize the existing actions and spot improvement opportunities for the short, medium and long term. All areas and operations were included in this initiative. As a complement to this tool, we carried out a study on performance and good practices of the national and international financial sector in CSR; the comparison between the Bank and the rest of the market allowed us to pick invaluable improvement opportunities. At the same time, we used the GRI indicators analysis made for the CSR 2009 and 2010 report as an input. In order to learn details about our key target clients, the type of bond we have with each of them and the most updated communication tools to develop processes that will strengthen our relationship with them, we mapped stakeholders according to the different variables the Operation Group and the high management took part in. Members of the Operation Group receive periodic training in CSR with theory concepts, national and international trends and practical tools to improve the economic, social and environmental management in its different areas. Our Value Chain 36 /37 trust Our Value Chain Our People People, our most valuable asset Members of Macro Group constitute the main growth engine of our company. That is why we work to guarantee a working environment where all collaborators may develop and carry out their tasks in a pleasant and efficient way. 2009 Human Capital in figures 2011 2010 Number of collaborators 8,405 (1) 7,810 8,154 Female collaborators 37% 34% 34% Male collaborators 63% 66% 66% Average age 42.44 42.77 42.83 Average seniority 15.16 15.38 15.64 To be always near is the principle for all the initiatives we develop for our collaborators to grow and for their welfare. Distribution of staff according to labor seniority (2011) The rise is due to the acquisition of the Private Investment Bank in September 2010. (1) In teams and more efficiently Our main principle is to be always near, and all our activities are tinged with this premise. In 2011, specifically, we looked for better internal efficiency, Oriented to this aim, we worked with each management on the basis of service agreements. This way, we aligned our expectations and needs of each area and cooperated with the teams in developing their projects and objectives. Under 5 years: 24% Between 5 and 9 years: 11% Between 10 and 14 years: 19% Between 15 and 19 years: 14% Between 20 and 24 years: 9% Between 25 and 29 years: 9% Over 30 years: 14% In the same sense, we committed to informing, connecting and training all collaborators, with the tools that let them innovate in their daily tasks. This meant an improvement in working processes and more internal efficiency at all levels of the company. Distribution of staff according to professional category The value we share: • Responsibility • Equal opportunities • Execution • Commitment (2011) • Loyalty • Honesty • Good communication • Team work • Human development New opportunities to grow In response to the needs for growth at the Bank, during 2011, we generated special actions to cooperate with the expansion of the branches net. This meant an opportunity for collaborators to grow. So, 197 people took part in internal search to take on new tasks and develop their experience in other positions, and other 192 were promoted. Also, 616 people became part of the Group. We went on working on labor insertion plans for the youth through the Program called Empleos de Tucumán (PET) (Employment of Tucumán). This proposal, implemented for the third consecutive year, and its extension called Programa de Inserción Laboral (PIL) (Labor Insertion Program), are part of the agreement between the Employment Secretariat of the Ministry of Labor, Employment and Social Security and the State Planning Secretariat of the Government of the Province of High Management: 0.24% Management: 0.62% Head/Supervisor: 22.80% Analyst/Officers: 36.90% Employee: 39.40% 38 / 39 Distribution of staff according Our commitment to the demands for our value chain pushes us mber to work every day to improve me re. people’s and organizations’ welfa to geographical area (2011) Collaborators in the Federal District and Buenos Aires Province: 22% Collaborators in other provinces of the country: 78% Distribution of staff in Central Areas and branches (2011) Tucumán. Both programs aim to push employment up to improve life quality and the integral development of the youth and, therefore, of the whole community. The Employment of Tucumán Program will take six months and participants will have the possibility to become part of the payroll. In a second training stage, they will continue working under the conditions and benefits of the Labor Insertion Program. In 2011 both programs benefitted 7 young people. Internal Consolidation We continued focusing on the whole organization’s work and we fostered the cooperation between the branches and Central Areas. Therefore, we went deeper and consolidated the objective-oriented Management System. The latter allowed us to measure the additional and individual contribution of each collaborator to the results of the branch. In every case, the quality and efficiency variables were totally indisputable. Collaborators in Central Areas: 37% Collaborators in the branches net: 63% Distribution according to contract (2011) Likewise, and within the frame of improving our own processes and the levels of internal administration, enquiries and response, we developed PeopleNet, a technological platform that runs actions information and follows up automatically some of the central processes of Human Resources with greater volume, mainly as regards Recruitment, Training and Objective Fixing and Follow-up –including the assessment on qualitative performance–. On payroll: 8,398 Work Program for young people in Tucumán: 6 Labor Insertion Program in Tucumán: 1 Our Value Chain Training for personal and professional development We want our collaborators to be updated and to grow from a professional point of view. Therefore, we carry out training, development and integration actions, and we generate spaces to consolidate the culture and identity of the Group, directing the teams towards a sole horizon. Our training activities are set into different categories: Training Development Integration Educational planned Specific actions to Actions oriented actions, in-site or develop and coach for to generate group distance, to get, employees to tackle meetings to strengthen Average age reinforce or refresh future responsibilities the teams’ synergy, (%) technical knowledge + as from the current + to agree on working or interpersonal ones. The first step guidelines together 100 abilities through is to define an individual and to define a future 80 different theoretical development plan. action plan. 60 and practical tools. 57 56 40 20 27 17 27 16 0 2011 2011 Highlights: • 70% of our collaborators took part in 503 training activities, out of which 462 were in-site. Apart from the specific training topics, other issues related to our business objectives or service agreements were also included. • 41 active e-learning in EduMacro platform for distance training. They were also informed about topics the Bank is interested in and important management aspects. • The first development workshops were organized, aimed at administering teams. Under leadership guidelines, we worked on communication, negotiation, effectiveness, distribution of staff in their correct positions, performance assessment and feedback. • We visited branches to provide support and follow the managers’ performance. • We launched the first program of Corporate Banking Professional Youth. After a recruitment process, we selected 10 young people that started to get trained and developed for a year and a half at branches and in Central Areas. The aim was to count on professional staff prepared to follow the Banking growth. This program gives priority to the training and evolution out of experience and development in a concrete working position. Each person counts on the support and follow-up of a mentor –a first line Manager in every case- who shares monthly exchange and reflection meetings. 2010 Up to 30 years of age From 30 to 50 years of age Over 50 years of age Staff turnover rate in 2011 (%) 10 5.90% 5 3.00% 1.40% 0 Men Women Total 40 / 41 First program of corporate banking professional youth: Mentors’ responsibilities and functions • To listen and inspire confidence to clear up doubts and queries. • To orientate and share his/her own experience, vision and knowledge. • To help understand the Bank, its values, strategy, culture, structure, processes and policies. • To help discover and value each formal and informal learning opportunity. • To give constant and realistic feedback. • To monitor progress and to help achieve aims. • To pass on experience or tasks to enrich the learning process. • To clear up objectives and suggest clear and concrete goals associated with the commercial role. Collaborators’ training 2011 2010 2009 Total man-hours 74,032 84,966 52,243 Total participation 30,240 36,908 26,396 Attendants to in-site courses 7,741 7,878 4,525 Attendants to distance courses 22,499 28,292 21,871 Participants 5,901 7,327 5,815 People at in-site courses 4,295 3,973 2,446 People at distance courses 5,901 7,327 3,369 70% 90% 74% % of participation over total staff Our Value Chain A constant dialog Following our main principle, we went deeper into the Integration Program with new actions in different populations and levels. We work on four aspects the Bank deems important in a balanced way: Culture, Acknowledgement, and Interaction among areas and Working Environment. Generating positive bonds strengthens the sense of belonging, so all spaces were suitable to agree on working guidelines, to define action plans and, mainly, to strengthen the synergy among teams. So as to transmit the bank’s values and to tackle important topics and queries, we continued with the meeting schedule that ranged from those with officers and high authorities of the Bank to the visit schedule of relationships with the staff, for which an individual meeting was held with each collaborator. We enhanced ProMacro meetings and schedule monthly ones in the branches and central areas for managers to have their own management and communication space in three dimensions: important topics for the Bank, important topics for his/her department and important topics for his/her brand or Management. We also introduced the new intranet for Banco Macro’s collaborators, which soon became the daily means of communication and consultation for most daily operations. During the second half of the year, with proven experience and developments, we integrated the new intranet for Banco de Tucumán’s collaborators. We have also continued with the edition of the internal journal called Visión, and special dossiers for each region. We also celebrated events of interest, such as the Bank’s anniversary. Communication about our social action Within the intranet, we created the new section of Banco Macro Foundation, through which we informed about all our private social investment actions and news about the activities of the Corporate Volunteers Program. In 2011 we published 4 reports with details on our Social Responsibility Management, together with 18 e-mails with news and invitations to join the volunteers program’s actions. At the same time, we developed a screen saver to launch the Volunteers Program called “Generando el Cambio” (“Generating the Change”), which was loaded in every employee’s computer. 42 / 43 We know that benefits are important The growth of the Group is the direct consequence of our collaborators’ growth. So, we fostered different actions to provide all members of the Bank with welfare and satisfaction: Benefit Description MEBA Prepaid private medical care at a preferential price (through medical care fund); birth, marriage and death subsidies; reimbursements of holder and direct relatives; bags with school implements, among others. All the Bank´s staff receives this benefit. Help funds for We support collaborators who are going through a employees in crisis difficult moment in life. This benefit is open to all staff that needs it. Support We continue supporting collaborators in difficult to collaborators situations, in need for social assistance or with long lasting diseases with alternative help programs School equipment In March we give a kit of school implements to all those collaborators who have kids in kindergarten (3 and 4 years old), primary and high school. In 2011, 6,479 employees received this benefit. Birth presents We give those who are expecting a baby some baby items. In 2011, 246 employees received this benefit. Children’s Day In 2011 we gave out 4,147 presents for the employees’ kids for Children’s Day. Nursery subsidy We offer this benefit for those collaborators with kids over 45 days of age and untill their beginning of primary school. All collaborators receive this benefit. Marriage award We give all those who get married a present equal to a wage. Flu vaccine We develop a free and voluntary vaccination campaign campaign among collaborators. In 2011, 4,666 people were vaccinated. Life insurance We give them a compulsory and an optional life insurance. All members receive this benefit. Burial insurance We have made an agreement with the burial service rendered by Cochería Paraná (Paraná Undertaker’s), covering the city of Buenos Aires and Gran Buenos Aires. (to be continued) Culture, Acknowledgement, Interaction among areas and a Working Environment are the action basis in our continuous dialog with our employees. Our Value Chain (continued) Benefit Description Surgical insurance We have taken a Surgical Insurance at MAPFRE Argentina for all members of the Bank and their primary relatives. This insurance gives the employee that goes through surgery an indemnization for the amount defined by the directory, apart from the coverage and reimbursements of the private health care system or state health care system. Benefit for Reimbursements are granted to those who have disabled children disabled children, with no limits of age. This benefit License for adoption is open to all staff that needs it. Macro Club The same reimbursement is granted to those who Macro Club is open for the members and their families to develop social and sport activities. Three years ago members totaled 220; today they amount to 400; i.e. we have almost doubled the number of members. are not biological parents. We do not just comply with the leave stated by law because we consider they need a longer period to adapt. This benefit is open to all staff that needs it. Family and We organize sport and recreation activities, with professional life discounts to have access to a gym and we organize competitions for their children, among other things. The aim is to approach the families. This benefit is open to all staff that needs it. Special discounts We have widened the benefits portfolio by making agreements with companies that resulted in better conditions for Macro members in different fields, such as tourism, clothes, catering, chemistry, etc. The agreements related to health and university careers in different regions of the country gained a special consideration; in both cases, the whole direct family is included. All employees receive this benefit. Special conditions We offer our collaborators and direct relatives in products for bonuses and discounts in products and services the staff rendered and offered by the Bank, such as credit cards, safety boxes, fixed term deposits, currency exchange operations, among others. In 2011: • We improved the club’s facilities with repairs, pools, painting and new games, among others, to welcome all collaborators that enjoy the recreation place, especially built for them, during the high season. • Our teams Banco Macro and Macro Club, made up of about sixty players, were unbeaten champions in the Banking tournament and went up to category A. • During the year, cycling tours, barbecues and other family meetings were also organized. 44 / 45 100% of our collaborators are included in the labor collective agreement, represented by the Asociación Sindical de Bancarios (Banking Trade Union). “Macro goes with you” Based on our experience, we concluded that the voluntary retirement or retirement plans implemented by companies for employees do not render the expected results. We believe this is mainly due to the internal conflicts they have with those collaborators who may consider the beginning of a new stage in life. For them, this is a turning point with strong changes and adjustments. We are worried about all populations member of the Bank, so this year we launched the program called “Macro goes with you", addressed to those collaborators who are about to start a new stage in life, when labor takes a secondary role to give way to new projects. With this objective, we openly invite those who are about to retire to make use of this retirement benefit. We held 4 meetings which meant an exchange space to generate ideas for proposals to be implemented in the future, both economically and personally. In 2012 this initiative will go on in the other provinces of the country. Other special activities • Competitions: We organized competitions on Fathers’ Day, moments to be shared by fathers and children. • Banco Macro’s choir: This artistic activity was carried out weekly at the auditorium located at Sarmiento 401, with an increasing number of followers. • Movies for girls: This unique activity for female coworkers was aimed at gathering them for a different afternoon. Our Value Chain • MacroSaving: For the third consecutive year, we celebrated the International Saving Day in the capital of the province of Córdoba. Collaborators shared one day with their families and peers. Everybody, children and adults, took part in integrating and cooperative games, which consisted of fulfilling missions related to giving value to the saving culture. • Yoga lessons: This proposal was part of the integration activities in Tucumán to provide collaborators with a space to build bonds with peers and with themselves. They learnt some breathing, concentration and meditation techniques, good postures and they managed to get free from daily stress. • Tea meetings: There, managers and heads of branches brought up doubts, generated proposals and defined action plans together with the Bank’s CEO and the main officers of associated Central Areas. During these meetings, there arose some opportunities to improve processes and work methodologies for the sake of a better quality and labor efficiency. Trade Union Representation All our collaborators are included in the labor collective agreement, represented by the Banking Trade Union. We are aware of the importance of this union representation for the correct business functioning; so we keep a fluent dialog with trade unions related to our activity. We promote health and labor security We want to offer our employees the best health conditions and a good working environment. Therefore, we push them to have a healthy life, organizing and promoting internal sport tournaments. In 2011, twelve teams from the capital of Córdoba and other provinces played a 24-match football championship. Likewise, so as to generate interaction among members of the Central Areas in the different managements, we resumed a classic event in Buenos Aires: the Internal Football 5 Tournament. At that time, and to highlight the integrating aspect of sports, teams were made up by drawing lots. After each match, players shared the “third half ” with anecdotes and building new friendships. On the other hand, 170 workers attended a course on first aids. The contents of the proposal were according to the Programs of the International Societies Federation of the Red Cross and Red Cross Crescent. The general purpose of the course was to pass on some knowledge about initial techniques in first aids and cardiopulmonary reanimation to cooperate with those victims of an accident or a sudden disease until a practitioner arrives. The ART Liberty trained in risk prevention and provided all collaborators of the country with instructions. Besides, we also have some guides to 46 / 47 prevent fires and evacuate buildings, available on the intranet. A training course was given on such topic to allocate roles in evacuation plans; adding to similar contents in e-learning training courses. The Hygiene and Labor Security areas were in charge of paying some visits and issuing monthly reports on labor risks and training courses; it also prepared a plan and evacuation plans and carried out some studies on labor conditions throughout the country. All our suppliers may open an account for free to receive the funds from the invoicing. Suppliers by geographical area Suppliers Suppliers in figures 2011 2010 Number of suppliers 12,634 11,361 Center: 31% Main categories Coastal Area: 2% Building repairs and maintenance 639 572 Argentine North-east: 8% Publicity and Advertising 475 403 Argentine North-west: 13% Stationery 92 68 Tucumán: 2% Security 90 64 Buenos Aires: 38% Cleaning, hired companies 55 41 South: 6% Application and base software 36 31 Systems hardware 25 24 Equipment maintenance service 24 19 IT consumables 21 16 Clearing expenses 1 6 First, ours Aligned with our philosophy “Being near”, we gave priority to the incorporation of local suppliers; this process also reported logistic advantages and contributed to the economic and social development of those communities where we do Business. Our knowledge about the local and national context, which we share with our suppliers, allows us to develop a solid synergy from which everyone is benefitted. How we select and assess our suppliers At the time of considering the incorporation of a supplier into our base, we take into account certain variables such as commercial and tax background, geographical location and information related to basic quality requirements, health and safety standards and offered price. Our Value Chain We believe it is essential to keep a rich and frequent exchange with them for the success of our Business and correct performance of our operations. Therefore, each sector communicates fluently with its suppliers. In this sense, within the frame of the program called “Get to know your supplier", we visit their production facilities every three to six months. Caring for the highest safety and quality standards, each sector makes six-monthly assessments of the services rendered or products acquired. The evaluation is firstly made on considering prices and then on the quality and delivery terms fulfillment. During the process, it is essential to count on the internal client’s opinion. Permanent contact with our suppliers We use different means of communications to achieve a fluent relationship. E-mails, our web page, phone and personal contacts are the means to receive queries, opinions and suggestions. In 2011, we paid 30 visits to suppliers’ companies throughout the country (Santa Fe, Salta, Misiones, Córdoba), under the program called “Get to know your supplier”. These meetings let us consolidate our bond with them and keep an in-site dialog to deal with topics of their interest and to go on building a closer relationship. We work to improve our responsible management with our suppliers Within our CSR Management, we organized workshops with the employees in charge of dealing with suppliers and of the implementation of purchase processes. There, the attendants were trained in national and International CSR trends and in the best sustainability practices with the Value Chain. Finally, we talked with our suppliers to spot improvement opportunities and joint challenges associated with sustainability, based on the information presented and the results of the self-diagnosis and the mapping of stakeholders carried out with employees of all areas of the Bank6. Strategic Alliances Every year, and from the position we have as social actors, we invite suppliers to participate in our social investment programs. In 2011, through usual communication channels, we share the information on the business management responsibility with our suppliers and we pass on our corporate culture and values to them. Thus, as part of an awareness For further information about the self-diagnosis and mapping of stakeholders carried out by some employees of all areas of the Bank, see page 35 of this report. 6 In 2011, we developed a code of conduct for suppliers based on our corporate mission, philosophy and values. 48 / 49 campaign of the Companies against Child Labor (of which we are members), we inform our suppliers about it via e-mail. Besides, during the year we set out on the development of a Code of Conduct for suppliers based on our corporate mission, philosophy and values. This initiative is aimed at letting our suppliers learn about certain performance principles and at allowing them to comply with them based on practices that reflect the importance of corporate ethics, the respect for Human Rights and labor conditions, and the preservation of the environment. Clients Clients in figures (1) Number of individual clients 2011 (2) Number of corporate clients 2010 2010 2,609,763 2,433,719 2,313,448 108,129 103,206 96,129 12,542 10,089 8,034 8,153 6,141 4,883 2,165 1,467 1,342 5,771 5,149 3,561 12,179 7,512 5,174 12,056 8,436 6,077 409 129 90 338 338 197 24,570 16,186 11,527 10,512 12,141 11,272 429,792 226,525 122,986 Total Deposits – Individual Banking (millions of pesos) Total Deposits – Government Banking (millions of pesos) Total Loans – Individual Banking (millions of pesos) Total Loans – Corporate Banking (millions of pesos) Total Loans – Financial Banking (millions of pesos) Total Loans – Corporate Banking (millions of pesos) Total financings (millions of pesos) (3) Total liquid assets (millions of pesos) Number of issued Credit Cards (4) Information about Banco Macro and Banco del Tucumán. (1) Including total of holders and additional holders with at least one product. Insurance, safety box or contingencies are not included. Information corresponding to April 2011. (2) Total Loans and leasing included. (3) Including authorized and embossed accounts, both individual and Agro-Distribution-Corporate. (4) of the total loans portfolio 60 50 40 30 20 10 0 51% 49% 48% 46% 1% 2% 2011 Finances Individuals Total Deposits – Financial Banking (millions of pesos) Share according to banking sector Government Total Deposits – Corporate Banking (millions of pesos) We work to be next to those that choose us, no matter which region of the country they are in. Corporate 2% 1% 2010 Our Value Chain Individual Banking In 2011, we worked to meet the financial and transactional needs of our clients with quality products and a better service. Through December 2011, our individual client portfolio was made up of over 2 million people: professionals, employees, entrepreneurs, retired people and students. Products responsible for the banking inclusion of low-income sectors Tarjeta Social (Social Card): once again, this year we worked on the Provincial Food Program in Salta, which lets the most marginalized sectors of the population be banked, among other benefits. This way, we hand in the Social Card every month, used by holders to buy food at the stores authorized by the Government. Since the beginning of the plan, in 2007, 131,737 people received their card. In 2011, 4.9 million transactions were made: 4 out of 10 were carried out at the group’s ATMs. Moreover, we went on cooperating with those in need in the province of Salta, through the plans called “Nutrivida” (destined to undernourished children), “Focalizados B” (destined to those affected by tuberculosis) and “Embarazadas” (Pregnant women). Results 2010 2011 Social Card New cards Social Recharge Social Recharge Card able Card Card able Card Si.Pro.Sa. Si.Pro.Sa. 16,927 1,727 39,082 3,002 72,589,948 5,179,550 41,194,875 6,176,500 64,477,819 3,080,478 36,568,428 4,684,320 131,737 17,541 127,223 21,790 Credited amount (in pesos) Consumption amount (in pesos) Cumulative total of beneficiaries Rechargeable Card Si.Pro.Sa: In 2011, the program continued in force, by means of issuing monthly cards according to the orders made by the Government. Personal Loans in Districts: We made eight new agreements with the districts of 9 de Julio, Capitán Sarmiento, Armstrong, Adolfo Alsina, Tigre, Funes, Oncativo and Humbold. Therefore, 4,492 clients received loans for a total of $ 100.5 million; the average loan amounted to $ 22,375. 4.9 million transactions were made through the Social Card. 50 / 51 Financing for purchasing computers: More employees, who credit their salaries in the Bank, were able to have access to a computer with the financing we granted them. In 2011, 1,316 homes got their computers at a rate of 0%, the amount was $ 5.5 million. Education Insurance: we went on offering Macro Education insurances, destined to guarantee that children continue their schooling education. At the end of 2011, these insurance policies were over 4,300. Protected Payment Insurance: As in 2010, we protected surpluses of Credit Cards and Personal Loans in the case of unemployment, disability or death. The portfolio volume was over 104,000 policies at the end of 2011. Loans for Natural Gas Installation: In 2011, 2,305 new homes were connected to the natural gas net due to the financial assistance amounting to $ 5.1 million, granted mainly in the provinces of Salta and Tucumán. Loan Line for Universal Child Allowance Beneficiaries: Since its launching in December 2012, we have granted 19.098 loans amounting to $ 45.6 million with a fixed rate to be paid in 36 months. Universal Free Account: We banked 4,400 clients by means of special campaigns which gave Saving Accounts free from maintenance costs so that low-income sectors could have access to a banking account; 2,000 accounts were opened in 2010, adding to the previous ones. Other products and services to improve the life quality of our clients Discounts on commissions for retired people: With the measure imposed by the BCRA Communication “A” 5231, 255,000 retired people received the discount on commissions arising from withdrawals via ATM, cashiers and transfers. This meant less circulation of cash, more security and the reduction of the economic impact on lower-income segments. Insurances for retired people: We traded insurances for retired people, providing them with products designed to meet their special needs. Today we have 37,115 Personal Accidents and Burial Insurance policies that cover our elder clients. At the same time, we launched a new insurance at Banco Tucumán to protect retired clients in case of death by accident. This insurance was taken at branches or on the phone and we sold over 1,300 through December 2011. Our Value Chain Early retirement: This is a line for those clients in Salta who meet the requirements to retire but lack years of social security contributions. With this line they get a down payment of up to $ 3,000 to clear such debt and get the retirement from which payments are later debited. Retired people’s segment 2011 2010 Number of retired people that received loans 131,460 117,017 Total number of loans 972.4 667.9 Number of retired people that received 809 2,612 Total amount of retirement payment 1,325 834 Quantity of centers 27 19 223,410 197,133 641,428 639,076 an early retirement (1) Number of retired people monthly assisted at these centers Total number of retired people assisted during the year The reason for the interannual reduction in the number of beneficiaries is the line was launched in 2009 and clients with a right to it got it at that moment. In 2010 and 2011, those who asked for it were just fulfilling the requirements and only contributions were missing. (1) Binding payment beneficiaries: We opened 3,853 free accounts for those who must receive payments related to judicial issues. Personal Loans: We launched three new loan lines: • Through Phone Banking, with a fixed rate to be paid in 36 months. Since its launching in August 2011, 2,570 loans have been placed, amounting to $ 5.4 million. • Through ATMs, 94,048 loans were placed, amounting to $ 125.7 million. • Through the Loan Line called Rapicompra (Quick Purchase) (at stores and traditional), 13,250 loans were placed, amounting to $ 65.7 million. Credit Cards: This year we issued over 400,000 Credit Cards that allowed our individual clients to administer their consumption and to improve their life quality and that of their families. The total financing granted through Visa, MasterCard and American Express Credit Cards amounted to $ 18 million in 2011. Moreover, 189,000 additional cards were issued through different channels. Within the Plan for Indicators Improvement, we contacted 150,000 accounts. This program was implemented in 2006 to reactivate those accounts that had registered no activity and to foster those with low consumptions. For that reason, we sent Clients a special communication including exclusive benefits. 52 / 53 Insurances: We offer products that adapt to the needs of our clients: Home, Education, Cars and Life are among the most important ones. In 2011, we went on consolidating the growth and development of Life and Personal Accident Insurances portfolio, up 36% on those registered in 2010. By late 2011, we finally defined the offer of ATM Plus insurance, a much more complete product with new coverage on purchase and price (the Insurer shall indemnify the Insured for the positive difference between purchase price and that observed and shown by the Insured for a similar good). The latter added to the already existing ones. Benefits for our clients MACRO Premia (Rewards): We invested $ 12 million in rewards for our clients throughout the country, given through the consumptions made with Visa, American Express and MasterCard Credit Cards of the Group. Currently, all our cards sum up and use MACRO Premia points. The category which registers the highest number of points for exchange is bed and table linen. Discounts and promotions: Consumption reached a volume of $ 120 million and a share of 25% in the Credit Cards Clients portfolio. All in all, 320,500 operations made with Debit Cards received a discount or promotion at the main supermarkets and stores of the country. Catalogue Sale: Many sales were made through catalogues that offered our Clients well branded products with discounts and financing. The Bank worked together with Sony, Phillips, Dell, Starphone, EXO, Comercial Cataratas and New San. Our clients made over 5,000 operations, amounting to $800,000. The increase in credit lines: In order to reset our clients’ purchase limits, three campaigns were carried out to push the purchase limit up during the year, and we reached 795,410 accounts belonging to clients of Wage Plan, Open Market, Retired People and Employees segments. The total amount of new purchase limits reached $ 8 million through December 2011. This year, we issued over 400,000 Credit Cards, which allowed our individual clients to administer their consumption and improve their life quality and that of their families. Our Value Chain Corporate Banking We have over 100,000 corporate clients, broken into categories according to their activity and turnover volume: • Corporate: These companies have sophisticated product requirements. • Megras: This group includes large and medium companies. • Agro: These clients have specific characteristics and needs and, therefore, they demand a different product portfolio from that of the rest of our segments. • SMEs: Highly developed in the provinces of the country, it is the largest category of our Corporate Banking. • Microenterprises: It belongs to the SMEs category, made up of companies that report an annual turnover of up to $ 4,500,000. They operate less information than large companies; they are a mass and very dynamic segment with short financial offer. The active portfolio of Corporate Banking showed important results once again: it reported a cumulative rise of 40% boosted by the increase in investments in Title Loans, Document Discount and Current Account Overdraft. The contribution of Agro and Small Enterprises (especially Microenterprises) was essential as they registered increases of 63% and 58% respectively, and they provided the active portfolio with atomization and stability. Clients according to region Corporate Banking Makeup 2011 2010 2009 Corporate 0.4% 0.5% 1% Megras 2.1% 2.2% 2% SMEs 57.7% 74.7% 73% Microenterprises 18.2% Agro 21.6% 22.6% (1) (2011) (1) 24% As from 2011, the SMEs and Microenterprises became two different segments. Therefore, for previous years, the percentage of these two segments is included in the SMEs category. (1) Jujuy: 3% Argentine North-east: 10% Salta: 5% Corporate Banking Products We offer a wide range of products and services for different profiles and sizes of our corporate banking clients. We aim at following them in their growth and development with innovative and excellence solutions. Among the new products and services this year we highlight the following: Collateral Agreements: We celebrated commercial agreements with the following companies: Scania, Iveco, VW, Grúas San Blas and Caterpillar with prime rates and special conditions. Leasing: We celebrated commercial agreements with first-line dealers such as Volkswagen, Iveco, Cartepillar and Scania, which provide us with a range of possibilities for our clients. In 2011, the highest amounts of these lines increased and prime rates were included in some agreements, according to the number of units to be acquired. We carried out fidelization campaigns for leasing and title loans clients and former clients who showed a good conduct during the term of the line or with over 50% of the financing repaid. In their behalf, we modified the requirements and facilitated the fleet renewal and increase. Credit Cards: We offer our clients different Credit Card options: Visa Corporate, Purchasing and Business; and MasterCard Corporate, Purchasing, Corporate Travel, Corporate Fleet. Tucumán and Santiago del Estero: 2% West: 4% Patagonia: 3% Buenos Aires: 18% Córdoba: 22% Santa Fe: 33% 54 / 55 75.8% of our client portfolio is made up of SMEs and Microenterprises. Debit Purchasing Card: This product responds to the needs of companies for an Automatic Debit system that guarantees payment of services on due date. The services that may adhere to are cell phone payment, tolls, clubs, district and province expenses and taxes, among others. Benefits with Commercial Cards (Visa Business and Mastercard Corporate): To improve our offer, we added value to the product with more benefits for user companies: we increased the accounts activation and launched promotions in tourism and IT consumables purchase. As an example: in Aerolíneas Argentinas, Musimundo, Megatone and other hotel facilities. Cards for individuals developing commercial activities: This is a product designed specifically for the commercial segment with corporate characteristics, with all the benefits of retail cards. Insurances: Our offer includes vehicles, companies, special vehicles, car fleet, Comprehensive Stores, Comprehensive Consortiums, Contractor Team, Operative All Risk, Electronic Technical, Fixed Industrial Technical Machinery, Land Goods Transportation, Water and Air Goods Transport, hail and fire insurances. This year, we incorporated Sancor Insurances and HSBC Insurances for the Comprehensive Corporate Insurance. And we have updated and improved the procedure handbooks and traditional insurance regulations to ease the interpretations by the whole net of branches, thus contributing to a better counseling to clients before taking insurances out. Our Value Chain Payment to suppliers: Automatic system to pay suppliers via Internet. This year we made some changes for the sake of a better service: • Generation of value with an issuance date equal to that of the process. • Issuance of checks to be collected at windows (new ART –Labor Risk Insurance Company- regulation). • Improvement to the safety scheme, optimizing the control of signatories of third party payment to suppliers. • Implementation of decentralization of deduction printings at branches. • Optimization of the information available for companies about the status of checks written out. We also count on the following tailor-made products and services for each corporate client8: • Macrowage: The service of wage payment to public and private workers. • Emprende (Enterprise) XXI, Comercio (Business) XXI y Campo (Field) XXI: Tailor-made product packets for clients of the production and service sectors. • Collection Services. • Warrants: For owners of agricultural and industrial goods or products that may be stored. • Values in Custody: Collection with portfolio administration. • Discount/checks purchase. • Loans with documentary guarantee. • Datanet: Net of Electronic Banking for companies. Services rendered to each segment SMEs In 2011, the credit portfolio of SMEs Banking grew by 50%, with a special rise in wages of Document Discounts, and in medium and long-term financings; especially title loans. In this segment, microenterprises showed rises in active and passive portfolios of 65% and 41% respectively and they became an essential source of fund raising. On the other hand, by mid-year we launched a packet especially designed for this segment business, called Comercio XXI (Business). This packet of products and services was specifically created to improve and complement the offer to small enterprises legally appearing as Individuals with a commercial activity or as Legal Persons (excluded from the agricultural sector and individuals on payroll), with an annual turnover under $ 4,500,000. It is made up of two versions than contemplate a different combination of products and services: ComercioXXI Total and ComercioXXI Básico (Total and Basic Business XXI). Through December 2011, 4,270 packets were active. 8 For further information about these products, see Banco Macro's CSR Report 2010. Improvements and New Services in Foreign Trade We understand the importance of Foreign Trade operations for our corporate clients, and so we included products and services to go with them in this process that means a development for them and for the country. We financed International purchase and sale operations. We launched a new credit line together with the IDB for Foreign Trade financings of up to two years for U$S 30,000 million. On the other hand, we have an information service via e-mail, called “E-mailing Comex”, which publishes the abstracts on new Foreign Trade regulations, the BCRA communications, amendments to forms and due dates or news on the information regimes. Through an agreement made with Exportar Foundation, we incorporated updated international information about international fairs and business meetings. We also included useful information for importers and exporters: online translator, requirements to be registered as importer and exporter, Comex dictionary and 2010 Incoterms. We updated the web page image and redid the presentation and description of Comex products for clients to access and read its content easily. The page contains a summary of regulations and FAQs that include: documents and instruments, funds inflows and outflows, liabilities abroad, general position of changes and inquiries channel. To the online MacroDirect tool, we also added the possibility to look into details on the import clearances assigned to Banco Macro to see the status of import advanced payments. 56 / 57 Total Basic Yes Yes Yes Yes account statement Yes Yes E-Resumen (E-Statement) Free optional Free optional Electronic Equipments Yes Yes Debit Card Free optional Free optional 25 units Yes Yes Movements at windows 10 free movements 2 free movements Crediting coupons at BM Optional Optional Optional Optional Optional Optional COMERCIOXXI – products and services included Current Account Special current account / Savings Account - $ and U$S Unified monthly MacroInsurance for First checks book of DPC (deferred payment checks) Comprehensive Business Insurance Credit Card (consumption or corporate) Credit Lines Total Basic ComercioXXI ComercioXXI CCA (Current Account Agreement) Loan $80,000 ------ Credit Card $35,000 $2,000 DPC discount $195,000 ------ Signature Highest Limit $105,000 $2,000 Highest Global Indebtness $300,000 $2,000 Microenterprises We have a special packet designed for microenterprises, called Emprende XXI (Enterprise XXI), which grants credit lines with minimum requirements by means of a risk application available at our branches. In 2011, 8,037 packets were activated, with a stock of 40,555 packets through December 2011. At the same time, this segment can also make use of the packet called Comercio XXI (Business XXI) above mentioned. Our Value Chain Agronegocios (Agrobusiness) It was one of the most dynamic segments in 2011. We addressed over 18,300 agricultural producers, increased the Financing of labor capital and the purchase of agricultural machinery and we pushed the sale of exclusive packets, such as Campo XXI (Field XXI), which registered a rise of 54% on that registered during the previous year. This packet offers products to meet financial and transactional needs of this segment client. Through December 2011, the net activated packets accounted for 3,360, with a stock of 9,539. The performance of MacroAgro Cards was especially significant, with a rise of 25% in the number of active accounts, generating also an increase of 45% in consumption. As regards MacroAgro Card service, we signed more than 70 agreements with machinery manufacturers which allowed the medium and long-term financing of purchase and renewal of agricultural capital assets. We also highlight the following new items of 2011: • Pactación (Negotiation): We implemented a process for negotiated transactions for Macroagro and Distribution. This lets users agree on the purchase due date with the store9. • Esquema Ganadero (Livestock Scheme): We followed a special development of the Macroagro products, applicable to estate purchases at auctions; with this option, the producer may pay the purchase in installments after a grace period. • Promotions at participating facilities with a discount of 100% on the rate in Macroagro: Advanta, Agro Integral Insumos, Agrofina, Alberto Bossio, Alzuarte, Biscayart, Bunge Fertilizantes, Carabelli Motores S.A., C&D, Caverzasi Ortín Semillas, Cooperativa Agrícola Ganadera, Cosechas Argentinas S.A., Degser Laboratorios, Eduardo Lusso, El Carmen Cereales, Facyt, Forratec, Illinois, Insu Agro, Rizobacter Argentina S.A., Sursem, Unión Agrícola Avellaneda, among others. • Financing regional production activities with special loans for dairy farm owners; farm breeding title loans and Distribution agreements with an interest rate of 0%, such as Unión Agrícola Avellaneda, El Carmen Cereales and Cooperativas Tabacaleras de Jujuy and Misiones. Contribution to the development of the country with financings for the production sector Credit Line for the Production Reactivation and Credit Line for Promotion of Regional Exports, related to the Federal Investment Council: 336 operations amounting to a total of $15,414,687.60. New Macro SMEs Line destined to promote regional economies and to foster the granting of loans to be used in financing labor capital, investment projects, capital assets acquisition or exports pre-financing, and to go with the development of the MISMEs. This includes lines such as balloon 9 Applicable only to certain Agro stores and promotional schemes. 18,300 agricultural producers invested in their business with our financing. 58 / 59 loans, leasing, exports pre-financing and financing, local loans in dollars for exporters (with or without Forward Transfer) and DPC discount: 1,797 operations for a total amount of $164,642,248. New lines associated with the so-called “Programa de estímulo al crecimiento de las MIPYMES” (Program of MISMEs growth incentive), credit auction provided for by Resolution 163/2011 of the SEPYME (Undersecretary of the Small and Medium Enterprise and Regional Development) and allocated to Banco Macro by Resolution 186/2011 to promote financial assistance for MISMEs: • 525 operations amounting to a total of $40,106,800 • 272 operations amounting to a total of $18,697,300 • 245 operations amounting to a total of $16,461,664 • 219 operations amounting to a total of $15,171,931 Hotel Industry Line for the hotel sector of the province of Misiones to repair facilities, to get linen and other furniture, within the frame of Financing Agreement for the Production and Service Sector executed between the government of the province of Misiones and Banco Macro: operations amounting to a total of $1,500,000. Financing Line for the Yerba (Maté) Sector: Agreement made between the Instituto Agropecuario e Industrial (IFAI) (Agricultural and Industrial Institute), the Instituto Nacional de Yerba Mate (INYM) (National Maté Institute), the Ministry of Agriculture and Production of the province of Misiones and Banco Macro to provide financial service to this sector: operations amounting to a total of $75,155,000. Line within the Agreement on Financing for the Production and Service Sector made between the government of the province of Misiones and Banco Macro, oriented to operations with SMEs associated with the Economic Confederation of Misiones: operations amounting to a total of $285,000. Trusts/Structured Settlements: • Financial Trust “Loma Blanca Serie I” for the highest issuance amount of U$S 103,000,000 (U$S 29,890,000 VRDA (Class-A Debt Securities) and U$S 73,110,000 VRDB (Class-B Debt Securities)). Resources from the issuance of DSs (Class A and Class B Debt Securities) will be used to finance the wind park called Loma Blanca IV, a member of the Loma Blanca Project, which comprises the installation, activation, operation and maintenance of 4 wind parks allocated by resolution ENARSA No 19/2010 which will affect the districts of Trelew and Madryn in the province of Chubut, to fit existing roads out and to create new roads, assembling platforms for air generators and their foundations. • Issuance of Negotiable Instruments of Emgasud S.A.A for a par capital value of up to $ 90,000,000. Results will be destined to finance, partially, our projects or the expansion of existing projects of energy generation by We contribute to the development of the country with our financing for the production sector. Our Value Chain the Issuer in the Argentine republic, among which we find the Parque Eólico Rawson I (50 MW) and Parque Eólico Rawson II (30 MW) allocated under the auction known as GENREN and the widening of the thermal centers called Las Armas and Bragado by 25 MW and 10 MW, respectively, allocated under the auction known as Energía Distribuida II. Distribution of branches and annexes Customers Service We offer a wide net of branches to be near One more year, we have widened our branches net to be next to those who choose us. In 2011, we opened 17 branches in the Federal District, Gran Buenos Aires, Zárate (Buenos Aires), Córdoba Capital, Río Cuarto and Laboulage (Córdoba), and in Tucumán. All in all, the net totals 413 branches, out of which 68 are the only banking institutions in certain areas. We also went further in the outstanding service policy for the best possible response to the demands from the different segments. We opened 5 new branches for corporate customers in the cities of Córdoba Capital, San Francisco, Río Cuarto and Villa María, in Córdoba; and in Morón, province of Buenos Aires. On the other hand, the branch in Quilmes moved to new facilities that grant an outstanding service for retired people. Geographical mapping 2011 2010 Total number of branches per region 413 402 Branches Annexes Argentine North-west 77 72 Buenos Aires: 56 Federal District: 2 Center 178 176 Federal District: 27 Córdoba: 6 Argentine North-east 39 45 Catamarca: 1 Jujuy: 7 Cuyo 15 20 Chaco: 1 Salta: 8 Patagonia 21 15 Chubut: 5 Santa Fe: 4 Province of Buenos Aires 56 51 Córdoba: 66 Tucumán: 12 City of Buenos Aires 27 23 Corrientes: 3 Total: 39 Number of districts with no competitors 68 67 Entre Ríos: 6 Jujuy: 15 Number of districts who share only one banking institution 56 67 La Pampa: 2 Total number of ATMs net 943 872 La Rioja: 2 Banco Macro’s ATMs 845 775 Mendoza: 13 Banco Tucumán’s ATMs 98 97 Misiones: 35 Total Number of SSTs 790 728 Neuquén: 4 Río Negro: 6 Salta: 25 San Juan: 1 San Luis: 1 Santa Cruz: 2 Santa Fe: 106 Santiago del Estero: 1 Tierra del Fuego: 2 Tucumán: 33 Total: 413 60 / 61 Distribution of branches by district 2011 2010 (only Macro Group) Large urban centers (over 10 branches) 25% 20% Medium and large cities (6 to 10 branches) 1.5% 7% Small cities (3 to 5 branches) 5.7% 5% Small districts (2 branches) 6.4% 6% Small districts (1 branch) 61.4% 62% Customers Service Innovation and Development Our customers may carry out banking operations in an agile, comfortable and safe way with our automated and contact channels, which allow a wide range of transactions. Automated Teller Machine (ATM) Between 2010 and 2011, we installed over 191 machines; 63% were replaced, 19% new positions and 18% position reinforcement. We also bought 482 ATMs to be installed in 2012. Through December 2011, we had the 17.7% of the market of Banelco ATMs and 8.5% at a national level. In terms of transactions quantity, we reached a share of 20.9% of the Banelco net. Self-service Terminals (SSTs) In 2011 we installed 62 new SSTs, reaching a total of 785. Such rise was distributed as follows: 26 new installations in branches that had no equipment, and 26 reinforcements in branches with high operation volumes in deposits, payments and inquiries. We also increased the total number of “7x24” SSTs to improve the 24/7 customer service. MacroMóvil We have 5 mobile units, with personalized service, that provide solutions throughout the country. Each of them has two ATMs and computers with Internet connection. This year MacroMóvil travelled around 20 districts such as Paraná, Concordia, Mar del Plata, Bahía Blanca, Rosario, Venado Tuerto, Santa Fe, Santo Tomé, Reconquista, Villa Constitución, Tilcara, Cafayate, Carlos Paz, Pergamino, Termas de Río Hondo, Yerba Buena, Tafí del Valle, among others; and was present at events such as Expo Agro, Fiesta del Inmigrante, Feria Forestal, Expo Yerba Mate, Expo Agro Jujuy y Agro Activa. ATMs for blind people and accessibility for the disabled Disabled people also count on the necessary tools to operate with our Bank with no hindrances. We are currently equipped with 302 for blind people, out of which 112 have already been authorized. In 2001 we added 24 branches with ramps and special toilets, thus reaching the number of 73 branches with ramps for the disabled and 42 with special toilets throughout the country. Districts where Banco Macro is the only banking institution (1) District 2011 2010 Salta and Jujuy 14 Tucumán 9 7 Córdoba 5 5 Misiones 16 14 Santa Fe 24 28 Total 13 68 67 Scope: Branches and ATMs. Exclusive ATMs not included. (1) 191 ATMs and 62 new SSTs installed and 112 ATMs authorized for blind people. Our Value Chain Macro Direct Our Home Banking service is developed with the best technology as regards IT security and it lets our clients operate on a 24/365 basis from anywhere in the world. In 2011, this channel meant the 86% of transactions and inquiries volume and was the favorite service due to its agility and security. Call Center Through this channel, clients may make inquiries and transactions in a safe, quick and simple way, supported by state-of-the-art technology. To optimize our service even further, we implemented new functions such as the access to e-summary service for the Credit Card. In 2011 we took on the challenge of meeting the highest service quality standards in our Call Center. For that purpose, during the year we organized workshops of “Service Techniques” with our employees to improve customers service, we generated 69% more calls compared with 2010, we received a monthly average of 136,757 calls and we increased the number of exclusive staff, thus creating 48 new employments. In this sense, we also achieved: • The ISO 9001:2008 certification of the Management System of Individual Telephone Customers Service. • The incorporation of 2 disabled people to act as Call Center operators. • The technological innovation of the global infrastructure of the Call Center, by renewing all its components and offering a double-support scheme before any contingency, minimizing risks and allowing the operation continuity. In May 2010 we opened a Call Center for companies of all the country. Through this channel, clients with the password of the Comprehensive ClienteSI Service had a new alternative of personalized attention, with specialized staff to operate safely and comfortably. In 2011, the average of answered calls was 6,600, up 50% on that registered in 2010. Automated channels users (1) 2011 2010 Individual Banking 281,252 228,450 Corporate Banking 41,071 34,249 Total 322,323 317,196 The number of users includes all those who operate through any automated channel with the password to the Comprehensive ClienteSí Service (Macro Direct, SSTs, IVR and Call Center). (1) Macro Mobile Banking Macro Mobile Banking is a service for our customers to operate their banking accounts comfortably from their cell phones: to ask for surpluses and Credit Card, to pay utilities, to make transfer between their own accounts or third person accounts and even to recharge their cell phones or somebody else’s. It features a global reach and operates on a 24/365 basis. The channel is extremely safe as it does not allow transferring money, making payments or recharging cell phones without a previous notice in a Banelco ATM or Macro Direct (Home Banking); in case of losing the cell phone or being robbed of it, no other person can make transactions. In 2011 we carried out 6 incentive campaigns, two of which will continue during the first quarter of 2012 and include the delivery of over 40 prizes, tablets, iPods and cell phones, among others. Through December 2011, over 100,000 monthly transactions had been registered. New high technology tools and services for customers service We implemented new services for individual banking, such as transfers via UBC (Uniform Banking Code) with immediate accreditation. On the other hand, companies may ask for mass beneficiary activation to credit wages and to make new inquiries on collections with very detailed information. In 2012, our challenge is to incorporate new transactional functions related to Foreign Trade for import and export operations liquidation, and transfer via UBC, with immediate and deferred accreditation and the use of the corresponding signature scheme. 62 / 63 Inquiry/Order Transactions volume through Money automated channels 2011 2010 2011 2010 Internet (Macro Direct) 93,033,763 69,386,510 766,904 571,403 SSTs 3,377,628 3,565,558 9,204,893 6,771,301 IVR (automatic service) 2,189,715 2,057,362 7,576 7,643 Call Center 1,758,801 828,487 16,121 12,293 Calls answered at the Call Center 2011 2010 BT Call Center 426,763 361,796 Macro Call Center 1,421,048 955,850 79,785 38,274 3,755,784 2,973,523 Corporate Call Center IVR Calls (total) (1) The rise in corporate calls corresponds to the exclusive Call Center for this segment, opened in May 2010. (1) Channels at branches In 2011, we went on working to foster the use of telephone posts and MacroDirect installed at branches. Currently, we have more than 370 phone posts and 250 MacroDirect posts. E-Flow Service System The e-Flow system is a software solution to organize the flow of people into our branches, offering a more organized attention. The client enters the branch, chooses the procedure to follow at the terminal, gets a ticket and waits to be called while comfortably seated in the waiting room. This solution optimizes the use of resources and our customers waiting. On the other hand, it provides us with relevant information for the continuous improvement of our attention processes. Finally, it gives way to new communication channels with advertising guidelines, information on security during the banking transactions and relevant data to purchase foreign currency, among others. Through November 2011, 181 branches already had this system, as wells as all Payment Centers for Retired People. Our Value Chain Remedy With this tool, launched in 2010, our collaborators may report directly to the Internal Contingencies Help Desk. The use of Remedy means to minimize the negative impact of contingencies, restoring the regular functioning of the service as soon as possible, reducing the solution times and standardizing the process so that the areas work together with the same objective. As part of Remedy, we incorporated the Problem Management to the Bank’s operation support. This process is complemented by the Contingencies Management and is aimed at avoiding problems, eliminating recurrent contingencies and minimizing the impact of those that could not been avoided. Our commitment to service quality Our Quality Plan is part of the Group's strategy and has two main axes: measurement and follow-up of indicators of the processes that impact on the internal and external clients, and market research that lets us know about our clients’ opinion. ISO 9001:2008 Certification for the Call Center We got the first ISO 9001:2008 Certification for the Call Center. The assessed process included a Call Center for individual clients that call the 0810-555-2355 and the 0800-555-62276, from the transfer of the call to the center operator in the city of Salta to the closing and registration of the event with the corresponding applications. Market Research It is a continuous task to improve our service quality. Therefore, in 2011 we carried out an Image and a Media Study. As a result, Banco Macro ranked fourth in banked and non-banked people’s minds. The 48% of banked population had a positive image of the entity, 42% considered it is a large bank and 50% thought it covers the whole country. We also went on with the Satisfaction Survey, the Opinion Poll and the Mystery Shopper10. Customers’ Satisfaction Survey We want to go on improving our service quality; so, every year we survey our customers in all the country to get information about the characteristics they value most about personal and telephone attention, communication, products and services management, interests charged and paid, branches structure, products costs, technology, promotions, Macro Rewards and image. See more information in this chapter. 10 We evaluated 396 branches in the Opinion Poll 2011. 64 / 65 Betting on the development of small districts We worked to be nearer people. So, we are present in all the districts of the country; in some of them, we are even the only banking institution. In line with the expansion plan that started in 2010, in 2011 we opened 11 branches and in 2012 we expect to open 15 more. It also lets us learn how these people grade us according to their perceptions. The study is made by means of a telephone survey of a random sampling, segmented according to geographical area and type of client. This analysis gives us the possibility of focusing on our action plans considering the real needs of our customers. In 2011 new needs arose among individual clients associated with the structure of branches, the technology of the Bank and our products management. In the case of corporate customers, they have to do with the quickness in administrative processes, products and technology. On the other hand, based on the results of the survey made in 2010, in 2011 we took the following actions: • We encouraged the use of automated media, alternative media and “Pago mis cuentas” (Paying my Bills). • We directed our clients to automated channels and the mobile banking to generate a self-inquiry culture and to reduce waiting time at the windows. • We worked on launching discounts and promotions for Credit Cards. • We carried out communication campaigns in the media, reinforcing the benefits of products and getting nearer the customers. • We increased the range of products, focusing on the different packets alternatives. • We made a campaign to encourage the payment of purchases with Debit Cards. Our Value Chain 2011 2010 Individual customers 5,000 5,011 Corporate customers 2,035 1,951 Individual customers 8.45 8.03 Corporate customers 8.87 7.76 Customers’ Satisfaction Survey Number of surveyed people General rating obtained Opinion Poll 2011 For the fourth consecutive year we carried out an opinion poll, which lets us measure our customers’ satisfaction as regards the service they receive at the branch they frequently attend. This way, we measure the performance of our executives and account officers, the function of public attention windows, ATMs and SSTs, and the satisfaction with our response to their claims. This way, we generate an information board oriented to spot the main strengths and weaknesses; we analyze according to divisions, regions and branches; and we use the customers' information to apply correction measures and to maximize comfort levels. During the year, we appraised 371 Banco Macro branches and 25 Banco Tucumán branches, at an average of 60 branches a month, and with the participation of 31,430 clients. Within the main results, we highlight the high level of BMI (Branch Management Indicator), which measures the customer’s satisfaction as regards the service usually received a a branch; this was up 4.80% on that of 2010. 2011 (1) 2010 General satisfaction 8.55 8.53 Loyalty 8.46 8.54 Image 8.43 8.49 SMI 8.49 8.45 Executives 8.63 7.92 Window officers 8.10 8.02 ATM 7.83 7.86 Claims 8.48 8.52 SSTs 8.40 7.57 BMI 8.34 7.96 Opinion Poll Strategic Management Indicator (SMI) Branch Management Indicator The information reported in 2010 differs from the CSR report 2010 because of the division of the AMBA and the restructuring of branches net. Therefore, a reprocessing of 2010 data was made to compare 2010 with 2011. (1) 66 / 67 Mystery shopper The aim of this study is to spot the image of the bank that branches give. The internal structure of branches is looked into and it assesses the attention level provided by reports reception, accounts officers and window officers. In 2011, we incorporated the characteristics of the e-Flow tool and we made reports broken into: Individual, Corporate and Payment Centers for Retired People. 2011 2010 2009 Branches visited 144 113 113 Individual 94 - - Corporate 44 - - for Retired People 6 - - Compliance Rate 7.6 8.2 8.2 Individual 7.6 8.2 - Corporate 8.0 - - 7.7 - - Results of the Mystery Shopper (1) Macro Payment Centers Payment Centers for Retired People Tucumán Branches visited 18 14 14 Individual 14 - - Corporate 2 - - for Retired People 2 - - Compliance Rate 6.7 7.7 7.4 Individual 6.7 - - Corporate 6.7 - - 6.9 - - 162 127 127 Payment Centers Payment Centers for Retired People Total number of branches visited The rating ranges from 0 to 10. (1) Claim Management: 100% efficiency Our customers’ claims are very important to us because they let us improve our processes and show them our interest in their opinion. Therefore, we want to handle and analyze claims in a diligent and efficient way, within the term fixed, and to provide clear and concise responses to their needs. Thus, we established a centralized and controlled process to measure quality indicators to evaluate our response to their claims. Claims Management lets us improve processes and show our clients how valuable their opinion is to us. Our Value Chain This year, we worked on making processes more efficient and improving the internal structure, achieving the optimization of services in case of important issues such as fraud or claims. All claims and suggestions are entered into the administration and claims management tool (SIAC), which also registers the treatment and solution given by our specialized analysts. At the same time, from the beginning of the process, the client gets a procedure number and an estimate date of solution, and he/she may have the information about the status of the claim through any attention channel. In 2011, it was our purpose to allow more customers to make their claims through alternative attention channels. Currently, the 99.5% of claims may be registered through this media (Call Centers, MacroDirect and other access through our web site). One of the most common reasons for claims is the problem in the distribution of mail (statements and Credit and Debit Cards). To solve this problem, we incorporated a tool that allows the customer the online location of Credit and Debit Cards. On the other hand, to avoid double payments of products adhered to account debit, we included an automated notice service in all customers service channels; at the time of paying, customers receive notice on possible double payment. As in Banco Macro, at Banco Tucumán we also started to contact clients whose claims called for special attention in a longer term than that fixed by the Code of Banking Practices. At the same time, in order to guarantee a uniform treatment of claims in the Group, we published the Internal Procedure Handbook for Claims Management for Banco Tucumán. (1) 2010 2011 2009 Branch 81,280 71,518 64,174 Call Center 96,717 37,158 25,028 Internet 10,158 7,799 6,388 Management Dpt. 2,135 756 579 Letters 750 621 675 Responsible before the BCRA 83 46 44 Total 191,244 117,898 96,888 Number of claims entered per channel Claims Quality and (1) At the end of 2010, the Bank got the Credit Cards portfolio of Banco Privado de Inversiones (Private investment Bank) and this meant a rise of 34% in this product customer portfolio. This acquisition resulted in a rise in claims, usual for this type of processes until the most frequent reasons for claims are found and internal processes ordered. 68 / 69 More security for our customers So as to guarantee our clients more security, we imposed the compulsory use of the coordinate card for transactions with UBC, with immediate accreditation for MacroDirect and card availability in all branches of the country. On the other hand, at Banco Macro we care for keeping our customers' data safe and from avoiding fraudulent actions. Therefore, we give information and security tips to use services well and we raise our customers’ awareness on keeping personal passwords protected from possible fraud, through constant e-mails and a security micro site in our web. At the same time, we keep branches officers informed and trained to be able to advise clients on security measures taken by the Bank and measures to be taken into account at the time of operating through automated channels. We care for our customers’ security and so we provide them with useful tools to use the Bank’s products and services well. Social Investment 70 /71 solidarity Social Investment Social Investment in figures 2011 2010 2009 Investment in CSR (in pesos) 7,322,777 5,560,000 4,310,443 Education 3,701,457 2,250,000 1,591,851 Social medicine 355,300 367,940 267,750 Nutrition 977,059 825,379 874,940 Integration 198,952 184,400 267,750 Volunteers program 517,725 414,470 300,000 Sustainable work 689,641 566,400 450,000 6,440,134 4,608,589 3,752,291 By social work category Total social investment (1) Volunteer employees (2) 250 939 200 Number of programs 6 6 7 Number of provinces 11 16 16 Number of beneficiaries 177,238 68,881 37,765 75 86 84 Number of alliances with organizations Social Investment in programs with the community is part of the CSR area budget. (1) The rise is due to the formal launching of the Corporate Volunteers Program. (2) Our contribution to social development Through Macro Foundation we bet on the growth of regions and the reappreciation of our culture, always focusing on children and young people that show commitment and willingness to be better. They make up our most valuable asset as a society. Our programs are designed to foster labor culture and to give rise to a joint supportive responsibility spirit. In 2011, we made alliances with 75 organizations to implement projects. Our work categories were: Education, Social Medicine, Nutrition, Sustainable work, Integration and Volunteers Program. Likewise, we concentrated on aligning the main actions to the business activities, and on going on with projects that involve the groups that interact with the Bank every day (retired people, teachers, students and school institutions near our branches, among others). As every year, our actions addressed the interior of the country, especially those provinces where our relationship with the community is sustained, because of our characteristics as financial agents. In 2011, over 177,000 people were benefitted from social actions thanks to the commitment and solidarity of 939 volunteers of the Group. 72 / 73 Every Social Investment program seeks to guarantee human rights and, among them, we want to highlight the work carried out together with harvest gardens in Salta and Jujuy and with UNAM in Misiones, where we trained tobacco producing families in alternatives for production and in the problems derived from child labor. We measure and monitor Social Investment In 2011 we measured the Management with a new methodology tool developed by Banco Macro Foundation upon the LBG model guidelines. This let us estimate and evaluate the impact of our actions, and handle programs in an organized and efficient way. Local coordinators visited the civil society organizations we work with and made reports on their performance; the latter included direct and indirect results of actions taken with the support of the Bank. Besides, they attended the opening and closing of activities, and all the special events. Education Program: “Saber para Ser” (“Knowing for Being") Programs for high school scholarships, training in reading and writing, new technology and its incorporation to classrooms, as well as the improvement to infrastructure and equipment of peri-rural and isolated rural schools are included in the main projects developed in 161 districts in the interior of the country, supported by Leer Foundation, Educando Fundation, Cáritas San Isidro, Escolares Foundation and Equidad Foundation, among others. Program “Educando sobre ruedas” (“Education on wheels”) at Embarcación and San Ramón de la Nueva Orán Together with Telecom de Argentina, Andesmar and Educando Foundation, we developed the Program called “Educando sobre ruedas” in two cities in the province of Salta. The purpose was to give free lessons on IT on board a mobile classroom; as it is an itinerant room, it is possible to reach remote areas in the country for the whole community to have access to training. This project was completed with a banking literacy module that trained all attendants in using virtual ATMs and Home Banking. During 2011, the first and second stages of the program were carried out by installing a mobile classroom at Escuela Especial Nº 7059 in Embarcación, and later at Escuela N° 5089 in San Ramón de la Nueva Orán. Attendants were mainly made up of retired people, those with pensions and teachers of these communities. With an investment of $193,168.07, 1,402 people were trained, resulting in 12,618 indirect beneficiaries; the fixed goals were widely exceeded. It is worth highlighting the work carried out by managers and staff of Banco Macro’s branches, actively involved in the project. Through 30 alliances with social organization, we impacted directly on the quality of education received by 32,436 students and given by 2,408 teachers in 179 institutions. Social Investment Bilingual Intercultural Education Program 2011 During the second half of the year, based in the city of Embarcación, Salta, training and educational material workshops took place, destined to rural schools attended by children from the wichi indigenous tribes. Those workshops, backed up by the Ministry of Education of the province of Salta, were also attended by headmasters, teachers and bilingual teachers of thirteen rural schools. Topics dealt with had to do with the teaching process of wichi children. Likewise, this year, the focus switched to the production of material: an illustrated Spanish and wichi alphabet (pictographs), card games, mobile letters, correction and adaptation of the Children’s Rights. Games were also organized and adapted to each community to handle specific topics, such as violence and alcoholism. Project on New Technology at Escuela Nº 4358, Dr. Nicolás Avellaneda, Cafayate, Salta In November, we celebrated the closing of the second stage of the technological integration Project at Escuela Nº 4358 Dr. Nicolás Avellaneda. The project was strategically directed by professionals of the Equidad Foundation and meant an investment of $ 220,000 by Banco Macro Foundation. The program consisted of three stages: 1. In 2010, it focused on the analysis of technological capacities of the teaching community. It also worked on IT labs equipment. 2. Later, teachers, headmasters and administrative staff were trained in the use of new technology, concentrating on its integration in every day classes and on the different educational practices. 3. The third and last stage will take place in 2012. It features especially designed tutorships to go with the teaching integration projects developed by the education community and Equidad Foundation. This project is complemented by other pilot experiences that also deal with the integration of technology into the classroom, such as the Humahuaca program, apart from the donation of IT equipment throughout the country to contribute to education institutions projects. 74 / 75 Social Medicine Program: “Salud por Sonrisas” (“Health for Smiles”) The medical attention in rural areas, the support to temporary residences for mothers of children in hospitals and the cooperation to maintain premises were the main intervention categories. In this case, our strategic partners were ALMA Foundation, TU.JU.ME, and the provincial cooperatives and hospitals. ALMA’s Foundation’s Train-hospital In 2011, the ALMA Foundation’s Train-Hospital made six trips to the interior of the country, assisting 3,429 children and teenagers. This way, interdisciplinary teams, made up of practitioners, social workers, radiologists, dentists, biochemists and nurses, among others, worked in different districts of Salta, Chaco, Jujuy and Tucumán to help the community. Moreover, they gave some lectures on the problems each area visited is interested in. This program involved 13 social organizations that helped us to give an answer to 9,361 children, out of which 221 were under oncological treatments. Social Investment The 7 alliances made with social organizations working on topics related to nutrition (dining-rooms, projects on vegetable gardens, training, etc) made it possible to reach 4,949 people. 2,285 children and teenagers were directly benefitted. Nutrition Program: “Alimentando el Futuro” (“Feeding the Future”) All the activities were aimed at fostering mothers' involvement, giving them some tips on nutrition and early stimulation and to extend the nutrition check-up to the whole core family. Moreover, we repaired some nutrition centers and organized training and workshops. The organizations involved were the Program for self-managed community dining-rooms in Salta and Jujuy, San Benito, Democracia y Pan de Belén, Ombú Diningroom, the Conin Foundation and Cáritas Tucumán. Projects at School Nº 64 in San Francisco Solano, Quilmes, and Nº 4078 in Guaymallén, Mendoza, together with Huerta Niño Foundation In both cases, a vegetable garden was built together with students with specific tools and training; some necessary elements were also refurnished and general maintenance was also done. At the end of 2011, this initiative was at its final execution stage, with very good results. Integration Program: “Unidos por Más” (“Together for more”) We worked in association with the Baccigalupo Foundation, Cre-Arte and Puentes de Luz Foundation to integrate people with different capacities through sports and recreation activities (therapy with horses, muppets workshops, etc) and the development of cultural topics and protected workshops. 76 / 77 Corporate Volunteers Program: “Generando el Cambio” (“Generating Change”) In 2011, we formalized the corporate volunteers program called “Generando el Cambio” (“Generating Change”), which stated specific objectives, topics and geographical location. To launch said program, the High Management of the Bank participated in the construction of dwellings in association with “Un techo para mi país Argentina” (“A roof for my country, Argentina”), in Buenos Aires, Salta, Córdoba and Misiones. This way, we fixed a calendar of activities for the six provinces, shared by a great number of collaborators and their families. We also went on with the competition on solidarity projects carried out since 2007 to reward our collaborators' solidarity in the community. We annually reward the best 30 initiatives; in 2011 the edition focused on the immediate help for medical wards and hospitals. Main activities in 2011: • 66 volunteers built 6 houses in association with Un Techo para mi país (“A roof for my country, Argentina”) in the provinces of Misiones, Buenos Aires, Salta and Córdoba. • 45 volunteers and their families planted 54 trees in the Ecological Reserve in Costanera Sur. • The Downtown Regional team and a group of branch managers visited the Children's Home called Jesús de Nazareth in Moreno, La Reja, which is home to over 30 children. • Volunteers from Tucumán organized Children’s Day for over 100 kids in association with León Foundation and CEFA Foundation. • 22 collaborators were trained as brokers by Leer Foundation and they shared a “Day for Stories” at the Community Integration Center of Tío Rolo Neighborhood, in Rosario. A Day for Childhood This event took place in different parts of the country and games, lunches and many surprises were shared with children from different foundations. In Córdoba and Misiones, 88 volunteers shared a different day with children living in homes that belong to Aldeas Infantiles in Oberá and the city of Córdoba, raising toys, clothes, shoes, bed sheets and towels to be donated to these communities. In Buenos Aires, 45 volunteers participated in a day for childhood at the Center called Nuestra Señora de Guadalupe at San Jorge Neighborhood in Don Torcuato, and they spent the day with 116 children. A charity fair was organized, and they painted a mural altogether, with the support of the Foundation called Crear Vale la pena. In the districts of San Francisco and Río Cuarto, Banco Macro’s volunteers spent two days of games and fun with 110 children that attend the so-called Ciudad de los niños and the Guardería Manuel Belgrano. A total of 939 volunteers took part in 23 solidarity projects, benefitting over 2,000 people directly and almost 150 in an indirect way. Social Investment In 2011, direct beneficiaries amounted to 28,323, and the strategic partners were Impulsar Foundation, Los Grobo Foundation and Cruzada Patagónica Foundation. Sponsorships In Rosario and Tucumán, 30 volunteers shared some days with those sponsored by Cimientos and León Foundations, and they sent them letters to encourage them and support their godchildren to finish their high school. For this task they received training from these foundations. Sustainable Work Program: “Reaching the Future” The main topic of this program was based on fostering the labor culture and local development. Therefore, actions were oriented to training in microenterprises, production Workshops, tourism projects and open activities related to a go-ahead culture. Transparent Communication Our local and national communication strategy, as well as the Bank’s advertising, are in line with our corporate values and culture. Also, the high authorities of the company evaluate the direct marketing actions. The aim: that the message shows the essence of the company and that messages with a social value are passed on. 78 / 79 In 2011 we developed focus groups in Córdoba, Salta and Buenos Aires to learn about the perception of the community about how the Bank communicates. We also made new advertisements in Susques and El Soberbio, and carried out a bid with different agencies to be in charge of a Credit Cards campaign. 2011 2010 1,040,692 1,115,969(1) 818,000 (national and provincial) 67 74 37 Number of graph mediums 68 45 40 Number of seconds on radio 6,373,169 5,580,000 4,950,000 Number of radios 147 155 151 Numbers of marketing pieces 4,853,153 1,003,225 2,602,650 Our Communication 2009 in figures Seconds of commercials on TV (open and cable) Number of TV channels 2010 information was updated due to a change in the measurement system. (1) Present at regional events We took part in different regional, social and religious events to be next to our public. As every year, we celebrated the Bank’s birthday with an event open to the community, with first line artists of the country. In 2011, it was held in the province of Misiones, and 85,000 people were present. We were also the Official bank at Rally Dakar 2011 and official sponsors of the Argentine stage of Le Tour de France, held in San Juan and Mendoza. We participated in Copa Peugeot in behalf of the Foundation called Un techo para mi país (“ A roof for my country, Argentina”) and in the football tournament in behalf of Pupi Zanetti's Foundation in Rosario. We also shared over ten solidarity marathons and bike races as that organized in Misiones in April in which over 1,000 people participate. We were there at the time of launching the summer season together with the Festival de la Canción Popular (Pop Song Festival) on the sea shore, in Mar del Plata, offering the best of the national theater to thousands of people, in a free and open event which celebrates pluralism in our country. Environmental Impact Prevention 80 /81 efficiency Environmental Impact Prevention Our commitment to the environment is expressed in the sustainable use of resources and spreading of good practices among those who make up Banco Macro and external stakeholders. In this framework, in 2011 our achievements in environmental impact prevention were the following: • We started an energy saving plan for 2011 and 2012 for the whole Bank. • We installed fuel spillage tanks at the building located at Sarmiento 447 to avoid toxic liquids release through rain drainages. • We activated highly efficient systems in acclimatization, which reduced energy consumption. • We started to plan the systematization of environmental indicators in order to estimate our Carbon Footprint. The process of energy saving we are following targets all our offices. The aim: to optimize and reduce energy consumption, directly affecting the net energy demand and resulting in less quantity of fuel consumed and a reduced number of greenhouse gas emissions. Direct Environmental Impact: We improved resources management Actions taken to reduce energy consumption: In 2011: • We turned off signs and marquises on the street. The 95% of branches have an automatic turn-off function. • We reduced the number of light bulbs in 90% of lights, following the levels stated by the Hygiene and Safety Act. • We cleaned 90% of ceilings and lights at the central buildings and branches. • We turned off 40% of lights along corridors and in those sectors that receive natural light. • We eliminated all incandescent lights and replaced 99% of them with low-consumption bulbs. • We gradually installed a mechanism that turns lights and extractors on in toilets by means of a presence detector. So far, we have completed 60% of the installation. • We carried out a preventive maintenance of all air-conditioners and we cleaned and changed filters periodically. We incorporated new suppliers in those regions that did not have these services. • We adjusted acclimatization temperature to 24º C in 95% of air-conditioners. The remaining 5% kept other values as they are located in extreme temperature conditions. We are committed to the responsible use of natural resources and raising environment awareness. 82 / 83 • We started to replace the UPS (Uninterrupted Power Supply) with stateof-the-art equipment with high energy efficiency. • We authorized the energy saving regulation, which describes all the actions to reduce consumption. • We continued incorporating branded PCs (1,092 altogether); the new technology is more efficient as regards energy consumption and means lower costs. • We replaced a total of 1,790 LCD monitors. Energy consumption and CO2 emissions 2011 Energy consumption (in kWh) 16,201,094 CO2 emissions (scope 2) 4,915.92 (1) Scope 2: Indirect emissions. It corresponds to those coming from net energy consumption (external source). Emissions are estimated according to the "World Resources Institute" (2009) GHG Protocol tool for stationary combustion. 4.1 Version". (1) Practices to reduce water consumption This year we went on replacing water-fueled equipment and cooling towers of air conditioners. The 3R Campaign: Reduce, Reuse and Recycle With the 3R Campaign we aim at raising our collaborators' awareness about the importance of natural resources and the environment preservation, with messages to make them think twice before printing documents that may not be necessary later. Biodegradable Plastic Bags In 2011 we replaced all conventional plastic bags with biodegradable ones. During the year, we bought 70,000 bags of the kind to send Macro Rewards prizes and 30,000 with the same characteristics for promotion events and actions of the Bank. This polyethylene degrades throughout the years, and does not pollute the environment. Microprinting Project for the responsible use of paper Since 2009 we have been printing our documents on both sides of the paper, thus optimizing its use in corporate buildings and in all branches. This initiative added to the standardization of the paper size. As from this microprinting project, we unified the equipment and reduced the consumption of reams. In November, we held a teleconference with all the divisions of the Group for the administration areas referents to boost the energy saving plan in all facilities. Likewise, we carried out a monthly control on the progress made by verifying the energy bill; this let us identify deviations. Environmental Impact Prevention s We went on with the proces l of changing technologica s; products for first line item ergy this allowed us to save en the and eliminate obstacles in benefits. energy net, among other Main results: • The average consumption of reams between 2009 and 2011 reached 17,500, while in 2008 the figure had been 22,500 (up 29%). • There was a drop of 5% in monthly printing in the last quarter of 2011, showing a favorable trend. • We were able to save $ 6,000,000 in the last three years11 as from the beginning of the campaign. 2011 2010 2009 (implementation) Ream consumption 219,900 202,729 199,326 Number of printings 130,951,403 121,209,779 94,332,782 Digital Year-End Cards In 2011, to celebrate the end of the year, as we usually do, we greeted our customers, collaborators, suppliers and partners. Different from previous years, we replaced the printed card with a digital one sent by e-mail. This meant a reduction in the use of paper and avoiding the cutting-down of trees, and a reduction in the use of fuel derived from the delivery to addressees. With these digital year-end greeting cards we managed to avoid printing 50,000 cards and envelopes. The commercial growth of the Group and the same consumption levels must be considered. 11 84 / 85 Indirect Environmental Impact: We optimized our products and services E-compromiso (E-Commitment) Campaign More and more customers are adhering to this service, which not only lets them receive their account statement quickly and safely via e-mail but also contributes to the reduction in paper consumption. E-statement Adherence 2011 2010 2009 Adherence Customers adhered 138,903 84,704 45,934 Customers adhered to accounts 101,760 57,490 33,833 Customers adhered to cards 60,289 29,122 14,758 Current accounts 9,228 9,361 8,328 Saving accounts 48,650 30,455 19,196 Packets 49,408 20,104 8,041 Visa 44,769 22,096 10,583 Master 26,641 12,578 5,154 American Express 1,205 595 327 to the service (1) Accounts Cards Adherence could be to more than one product. (1) Environmental Impact Prevention Videoconferences We continued applying the videoconference system to hold meetings with employees from different provinces. This way, we reduced the environmental impact associated with transferring collaborators for in-site meetings. Currently, the regions of Buenos Aires, Córdoba, Posadas, Rosario and Salta have this equipment. Responsible Waste Management We continued discarding IT equipment through donation and ecological disposal circuits of electronic scrap. This procedure includes all electronic equipment, materials and components of the bank: ranging from PCs, monitors, printers, servers and boards to discs, keyboards, mouses, ATMs, SSTs and telephones. We also donated all the unused furniture to other institutions. Technological Waste Recycling We continued disposing of technological waste through an alliance with Equidad Foundation, and the rest with Silkers S. A. In 2011, 5,728.5 kg of IT equipment was discarded. We also destroyed 1,203 magnetic media (backup tape cartridges), a procedure made through the company Braunco S.A. and which consisted in submerging them in thinner to be later burnt in special ovens that eliminated polluting gases. Waste Management 2011 2010 2009 Recycled paper (kg) (1) 57,018 42,736 26,700 999 1,284 720 Amount of furniture donated 1,159 1,007 1,174 IT equipment donated 286 188 186 229 457 256 Recycled plastic (kg) (2) Electronic waste management (3) Benefitted institutions 25,839 kg correspond to Buenos Aires; 3,670 kg, to Tucumán; 20,570 kg, to Córdoba; 1,319 kg, to Salta; and 5,620 kg, to Rosario. (1) Corresponds to Buenos Aires. (2) Complete PC equipment donated to institutions and to education communities that presented work proposals related to TIC. (3) What is electronic scrap? It is the set of hazardous waste from computers, cell phones, television sets and household appliances in general. Luckily, many of their valuable components may be recovered and thus recycled. 86 / 87 Strategic alliances for paper and plastic recycling Our Business implies handling a great amount of paper and confidential information of our customers. Therefore, we designed programs for paper recycling very carefully; we carry on an in-depth analysis of its logistics and we work with responsible and reliable organizations. Therefore, all our offices and branches in the city of Buenos Aires and in Gran Buenos Aires took part in the Program for Paper and Plastic Recycling in behalf of the Pediatrics Hospital Foundation “Profesor Dr. Juan Garrahan”. This proposal let us raise our employees’ awareness on the importance of taking care of the environment. At the same time, in Salta, we implemented a paper recycling program together with the Ceosol Foundation; so we did in Tucumán with the León Foundation; in Rosario, with Hospital HECA; and in Córdoba, with La Papelera del Plata S.A., in behalf of different local organizations. 2011 Performance And New Challenges 88 /89 innovation 2011 Performance And New Challenges 2012 Challenges Action Axis 2011 Objective 2011 Achievements Strategy and To incorporate guidelines related We amended Banco Macro's Credit Creation of the Risk Management Management to the evaluation of environmental Policy for corporate banking, Committee. impact of customers within Credit adding social and environmental Risk policies and procedures cor- indicators to the assessment of responding to Corporate Banking. investment project. To go deeper in the exploitation The Audit Committee carried out an The making and the Board’s signing of our IT control and monitoring analysis of regulations, took part in of a Corporate Social Responsibility tools, complementing with the different projects and helped the Policy. update of internal regulations Central Areas to generate monitoring and procedures of money laun- information. Some 2011 milestones dering and terrorism financing. were: documentary file Metaroles of Central Areas, IFRS- International Financial Reporting Standards, Remedy Project and projects on systems development. Collaborators To incorporate at least 5 opera- We incorporated 2 persons with a The incorporation of 3 additional tors with different capacities to physical disability as Call Center operators and the analysis of the act as Call Center operators. operators. possibility to enhance the collaborators team to 10 already available vacancies. To train the regional staff in labor In Buenos Aires, we implemented The expansion of the program inclusion and integration topics. the program “Macro goes with you” “Macro goes with you” to the rest of for people who are about to receive the country with complementary the retirement benefit to provide lectures on the retirement process. them with options and tools to continue with new projects. Consolidation of the Managerial Development Plan. To widen training projects in the We carried out workshops to Implementation of lectures to position, managerial develop- incorporate and develop skills first-time mothers. ment and competencies. related to Leadership, Team Management, Communication, Effectiveness and Feedback for collaborators to improve their performance. Suppliers To start implementing the project We started the project’s trial Implementation of the process of for electronic purchase orders to period. We moved forward in Purchase Order with software in all avoid forms printing; to achieve developing forms and we generated regions to avoid paper and ink an important reduction in paper the corresponding regulations. consumption. and toner consumption and to make all internal processes agile. (to be continued) 90 / 91 2012 Challenges Action Axis 2011 Objective 2011 Achievements Suppliers To boost the regional economic We satisfactorily carried out the Implementation of the Code of development of small local sup- project to install the RSC. We Conduct for suppliers to spread our pliers through the implementa- worked under the criteria to work values as a company engaged tion of the Project for Tellers regionalize the supply and as- with the community. Systematized Site (RSC in Span- sembly of the design at branches, ish) through which purchases through local suppliers, with and hires shall be made at a promising results. national level. To implement the use of biode- We complied with the BCRA Reduction in the use of paper by gradable plastic bags, with a low regulations and we gave all our digitalized files of purchase orders of impact on pollution (presented branches the biodegradable bags the company which has the files in and approved before the BCRA) to keep the cell phone. custody. The method will be used for customers to enter branches when these closed orders background with cell phones, in an attempt to is required for specific purposes. reduce bank-exit robberies. Customers To launch a Packet of Services and We launched special insurances The incorporation of new channels Products for retired people. for the retired, and we offered for products trading to improve our discounts in products and ser- customers’ access and scope. vices they need. To open 31 branches in the Federal We opened 17 branches in the The opening of 15 branches in the District and Gran Buenos Aires, Federal District, Gran Buenos Aires, Federal District, Gran Buenos Aires, Córdoba, Entre Ríos, Mendoza, Zárate (Buenos Aires), the city of the provinces of Buenos Aires, Salta, Salta, Jujuy and Neuquén. Córdoba, Río Cuarto and Laboulage Entre Ríos, Mendoza and Neuquén. (Córdoba) and in Tucumán. To go on meeting customers to In 2011, 18 lectures were made Training Centralized Officers of Megra learn about their expectations about the economic and political and Corporate Banking to be and to inform them about the situation of the country through incorporated in the analysis of national economic situation. the consultancy agency called clients to be rated, environmental Poliarquìa. and social impacts. To develop a customer segmenta- We went deeper into the differen- Meeting SMEs Banking customers to tion plan to specialize branches in tiated attention policy to meet the spread and go deeper into the CSR. the different segments. demands of the different segments with the opening of 5 branches for companies and 1 for the retired. To develop a Quality Manage- We published the Internal The incorporation of a new transac- ment System for the process of Procedure Handbook for Claims tional function of Foreign Trade to certification of incoming calls Management for Banco Tucumán. liquidate import and export to the Call Center of Custom- We certified the Management operations. ers Service. To go on working System of Individual Call Center on Market Research and Qual- under the ISO 9001:2008. We ity Indicators that provide us carried out two studies: one on the with information to learn about image and another on the media. and improve our customers’ satisfaction. (to be continued) 2011 Performance And New Challenges 2012 Challenges Action Axis 2011 Objective 2011 Achievements Customers To optimize resources by We digitalized Active operations The implementation of transfers via digitalizing Active (cheques) and saved paper and important UBC with immediate and deferred operations. response time. accreditation, and with the use of To invest in technology, sys- We installed over 191 ATMs, 42 The installation of about 50 SSTs for tems, ATMs, SSTs, Virtual Bank- SSTs and we improved the layout a better customers service. ing and remodeling branches. and sign posting of branches. To carry out the new project for Together with Telecom and The design of a banking and digital “Elderly People and TICs” for Andesmar, we transferred the literacy program for the retired. the north of the country, whose mobile classroom of Educando To continue with the program called objective is to break down the Foundation to the districts of Orán Educando in other provinces of the digital gap and provide our and Embarcación in the province of country. retired people with the benefits Salta. We gave 4 training courses at of using technology. Centers for Retired People with two the corresponding signature scheme. Community mobile classrooms of Educando Foundation. We trained 956 retired people, 309 teachers and 596 people of the community. To go on with the second stage During the second stage called of the project with Leer Foun- “Desafío Leer”, 8 libraries visited 56 dation, the program “Desafío schools and we donated 2,756 Leer”: 8 libraries opened in 2010 books to the kids that participated. will go to the community and visit 9 schools each. To carry out a specific program for local development in Salta and Jujuy with the Foundation called Los Grobo. To open 15 reading corners in 5 new schools got connected To add 25 new schools of Quebrada Tucumán together with Esco- through the program called de Humahuaca to the project, lares foundation. To incorpo- “Humahuaca Escuelas en Red”. achieving the 50% of the proposal rate 5 more schools into the made at the beginning of the program called “Humahuaca program. Escuelas en Red”. To develop a model of IT equipment, connectivity and training in a school in Cafayate. To widen the corporate volun- We widened the volunteers pro- To reach all the provinces of the teers program including more gram with more shared days, fund country through corporate volunteers participation opportunities raising and sponsorships, with the meetings. for our collaborators, such as participation of 939 volunteers. fund raising, shared days and insertion in the different social organizations the Foundation works with. (to be continued) 92 / 93 2012 Challenges Action Axis 2011 Objective 2011 Achievements Community To hold the fourth edition of the We organized the competition To hold the fifth edition of the volunteers competition. under these topics: help medical annual volunteers competition. wards, centers and hospitals; 35 projects won. To extend the number of god- We sponsored 170 godchildren. children to 140 in the country. To work on the internal com- We created the micro site with all munication plan of the Founda- the information about volunteers tion, creating a micro site in programs and actions, we send a the Intranet and developing a newsletter every quarter to all the quarterly newsletter about the employees by mail and we give a Foundation. sample of the CSR Report 2011 to all branch managers to know about the actions of the Bank. Environment To make pilot tests on LED light- As the LED technology is not fully Follow-up and control of the ing at branches to save 50% developed in our country, it was compliance with the energy saving of energy, compared with low- not possible to install it. Therefore, plan for 2011 and 2012. consumption lights. we put high efficiency bulbs at the branch in Chacarita, generating a reduction of 30% compared with conventional ones. To continue replacing 1,000 CRT We replaced a total of 1,790 LCD Installation of fuel spillage tanks at monitors with LCD technology. monitors. Maipú 316 and in the Posadas building to avoid fuel release through rain drainage. To extend the scope of the We extended the paper recycling To organize an internal competition paper recycling program to Salta program to Salta. on the topic of “recycling” to have all and to evaluate its development in the provinces of the south of Argentina. collaborators’ children involved. GRI Indicator Table And Global Compact (Communication On Progress) 94 /95 sustainability GRI Indicator Table And Global Compact (Communication On Progress) GRI Indicator 1. Strategy and Analysis 1.1 Statement from the most senior decision maker of the organization about the relevance of sustainability to the organization and its strategy 1.2 Description of key impacts, risks, and opportunities 2. Profile Organizational Profile 2.1 Name of the Organization 2.2 Primary brands, products or services 2.3 Operational structure of the organization 2.4 Location of organization’s headquarters 2.5 Number of countries where the organization operates with major operations 2.6 Nature of ownership and legal form 2.7 Markets served 2.8 Scale of the reporting organization 2.9 Significant changes during the reporting period regarding size, structure, or ownership 2.10 Awards received in the reporting period 3. Report Parameters Report Profile 3.1 Reporting period 3.2 Date of most recent previous report 3.3 Reporting cycle 3.4 Contact point for questions regarding the report or its contents Report Scope and Boundary 3.5 Process for defining report content 3.6 Boundary of the report 3.7 State any specific limitations on the scope or boundary of the report. 3.8 Aspects that may significantly affect information comparability 3.9 Data measurement techniques applied to the compilation of the Indicators 3.10 Explanation of the effect of any re-statements of information provided in earlier reports, 3.11 Significant changes from previous reporting periods in the scope, boundary, or measurement methods applied in the report GRI Content index 3.12 GRI Content Table Assurance 3.13 Policy and current practice on assurance 4. Governance, Commitments, and Engagement with Stakeholders Governance 4.1 Governance structure of the organization 4.2 Indicate whether the Chair of the highest governance body is also an executive officer 4.3 State the number of members of the highest governance body that are independent and/or non-executive members 4.4 Mechanisms for shareholders and employees to provide recommendations or direction to the highest governance body 4.5 Linkage between compensation for members of the highest governance body and the organization’s performance, including social and environmental performance 4.6 Processes in place for the highest governance body to ensure conflicts of interest are avoided 4.7 Process for determining the qualifications and expertise of the members of the highest governance body in sustainability issues 4.8 Statements of mission, values and codes of conduct 4.9 Procedures of the highest governance body for overseeing the organization’s identification and management of economic, environmental, and social performance 4.10 Processes for evaluating the highest governance body’s own performance, particularly with respect to economic, environmental, and social performance Commitments to External Initiatives 4.11 Explanation of whether and how the precautionary approach or principle is addressed by the organization 4.12 Externally developed economic, environmental, and social charters, principles 4.13 Memberships in associations (such as industry associations) and/or national/international organizations in which the organization takes part Page 7 7,8,1-34,89-92 14 13,48-50,53-55 18 Note 1 15 21 15,48 15-17 Note 2 18 98 Note 3 Note 3 99 32-33,98 98 Note 4 Note 5 Note 6 Note 6 Note 6 95-98 Note 7 21-22 Note 8 21 21-22 21 22,25-28 21 13,25-26 31 n/a 31-32,81 18,71-78,84-86 18 GRI Indicator 4.14 4.15 4.16 Stakeholder Engagement List of stakeholder groups engaged by the organization Basis for identification and selection of stakeholders with whom to engage Approaches to stakeholder engagement 4.17 EC1 EC2 EC3 EC4 EC5 EC6 EC7 EC8 EC9 Key topics and concerns that have been raised through stakeholder engagement, and how the organization has responded Economic Performance Indicators Economic performance Direct economic value generated and distributed Financial implications and other risks and opportunities for the organization’s activities due to climate change Coverage of the organization’s defined benefit plan obligations Significant financial assistance received from government Market Presence Range of ratios of standard entry level wage compared to local minimum wage Policy, practices, and proportion of spending on locally-based suppliers Procedures for local hiring and proportion of senior management hired from the local community Indirect Economic Impacts Development and impact of infrastructure investments and services provided primarily for public benefit Understanding and describing significant indirect economic impacts, including the extent of impacts Social Performance Indicators: Labor Practices and Decent Work Performance Indicators Employment LA1 Total workforce by employment type, employment contract, and region LA2 Total number and rate of employee turnover by age group, gender, and region LA3 Benefits provided to full-time employees by major operations Labor/Management Relations LA4 Percentage of employees covered by collective bargaining agreements. LA5 Minimum notice period(s) regarding operational changes Occupational Health and Safety LA6 Percentage of total workforce represented in formal joint management–worker health and safety committees LA7 Rates of injury, occupational diseases, lost days, and absenteeism, and number of work-related fatalities by region. LA8 Education, training, counseling, prevention, and risk-control programs regarding serious diseases LA9 Health and safety topics covered in formal agreements with trade unions Training and Education LA10 Average hours of training per year per employee by employee category LA11 Programs for skills management and lifelong learning LA12 Percentage of employees receiving regular performance and career development reviews Diversity and Equal Opportunity LA13 Composition of governance bodies and breakdown of employees per category according to gender, age group, minority group membership LA14 Ratio of basic salary of men to women by employee category Human Rights Performance Indicators Investment and Supplying Practices HR1 Percentage and total number of significant investment agreements that include human rights clauses HR2 Percentage of significant suppliers and contractors that have undergone screening on human rights and actions taken HR3 Total hours of employee training on policies and procedures concerning aspects of human rights Non-Discrimination HR4 Total number of incidents of discrimination and actions taken Freedom of Association and Collective Bargaining HR5 Operations identified in which the right to exercise freedom of association and collective bargaining may be at significant risk, and actions taken Page 33-34 34 21,22,3233,34,41,47,6167,71-72 32,61-67 16-17 n/a 44 Note 9 Note 10 46 Note 11 73-76 37-38,47-48, 49-50,57-58,60 37-38 37-39 42-43 45 Note 12 n/a Note 13 45-46 n/a 40 39-40 39 21,37-38 Note 14 n/a 48 34 Note 15 45 96 / 97 GRI Indicator Child Labor HR6 Operations identified as having significant risk for incidents of child labor, and measures taken Forced and Compulsory Labor HR7 Operations identified as having significant risk for incidents of forced or compulsory labor, and measures Security Practices HR8 Percentage of security personnel trained in the organization’s policies or procedures concerning aspects of human rights Indigenous Rights HR9 Total number of incidents of violations involving rights of indigenous people and actions taken Society Performance Indicators Community SO1 Nature, scope, and effectiveness of any programs and practices that assess and manage the impacts of operations on communities Corruption SO2 Percentage and total number of business units analyzed for risks related to corruption SO3 Percentage of employees trained in organization’s anti-corruption policies and procedures SO4 Actions taken in response to incidents of corruption Public Policy SO5 Public policy positions and participation in public policy development and lobbying SO6 Total value of financial and in-kind contributions to political parties, politicians, and related institutions Anti-Competitive Behavior SO7 Total number of legal actions for anticompetitive behavior, anti-trust, and monopoly practices and their outcomes Compliance SO8 Monetary value of significant fines and total number of non-monetary sanctions for noncompliance with laws and regulations Product Responsibility Performance Indicators Customer Health and Safety PR1 Life cycle stages in which health and safety impacts of products and services are assessed PR2 Total number of incidents of non-compliance with regulations and voluntary codes concerning health and safety impacts of products and services Product and Service Labeling PR3 Type of product and service information required by procedures and regulations in force PR4 Total number of incidents of non-compliance with regulations concerning product and service information and labeling, PR5 Practices related to customer satisfaction Marketing Communications PR6 Programs for adherence to laws, standards, and voluntary codes related to marketing communications PR7 Total number of incidents of non-compliance with regulations and voluntary codes concerning marketing communications Customer Privacy PR8 Total number of substantiated complaints regarding breaches of customer privacy and losses of customer data. Compliance PR9 Monetary value of significant fines for non-compliance with laws and regulations concerning the provision and use of products and services Environmental Performance Indicators Materials EN1 Materials used by weight or volume EN2 Percentage of materials used that are recycled input materials. Energy EN3 Direct energy consumption by primary energy source EN4 Indirect energy consumption by primary source EN5 Energy saved due to conservation and efficiency improvements. EN6 Initiatives to provide energy-efficient or renewable energy based products and services, and reductions achieved EN7 Initiatives to reduce indirect energy consumption and reductions achieved Water EN8 Total water withdrawal by source EN9 Water sources significantly affected by withdrawal of water Page 48 48 n/a Note 15 71-72 27-28 28 Note 15 Note 16 Note 17 Note 15 Note 15 Note 18 Note 18 25 Note 15 61-67 77-78 Note 15 Note 15 Note 15 83 85 82 82 81-82 81-82,84-85 81-82 n/a Note 18 GRI Indicator EN10 Percentage and total volume of water recycled and reused Biodiversity EN11 Land in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas EN12 Significant impacts on biodiversity in protected areas and areas of high biodiversity value outside protected areas. EN13 Habitats protected or restored EN14 Strategies, current actions, and future plans for managing impacts on biodiversity EN15 Number of species with habitats in areas affected by operations Emissions, Effluents, and Waste EN16 Total direct and indirect greenhouse gas emissions by weight. EN17 Other relevant indirect greenhouse gas emissions by weight EN18 Initiatives to reduce greenhouse gas emissions and reductions achieved EN19 Emissions of ozone-depleting substances by weight. EN20 NO, SO, and other significant air emissions by type and weight EN21 Total water discharge by quality and destination EN22 Total weight of waste by type and disposal method EN23 Total number and volume of significant spills EN24 Weight of transported, imported, exported, or treated waste deemed hazardous EN25 Water bodies and related habitats significantly affected by the reporting organization’s discharges of water and runoff Products and Services EN26 Initiatives to mitigate environmental impacts of products and services, and extent of impact mitigation EN27 Percentage of products sold and their packaging materials that are reclaimed Compliance EN28 Monetary value of significant fines and total number of non-monetary sanctions for noncompliance with environmental laws and regulations Transport EN29 Significant environmental impacts of transporting products and other goods and materials used Overall EN30 Total environmental protection expenditures and investments by type Labor/Management Relations FS1 Policies with specific environmental and social components applied to business lines. FS2 Procedures for assessing and screening environmental and social risks in business lines FS3 Processes for monitoring clients’ implementation of and compliance with environmental and social requirements included in agreements or transactions FS4 Process for improving staff competency to implement the environmental and social policies and procedures as applied to business lines. FS5 Interactions with clients/investees/business partners regarding environmental and social risks and opportunities. FS6 Percentage of the portfolio for business lines by specific region, size and by sector. FS7 Monetary value of products and services designed to deliver a specific social benefit for each business line broken down by purpose FS8 Monetary value of products and services designed to deliver a specific environmental benefit for each business line broken down by purpose FS9 Coverage and frequency of audits to assess implementation of environmental and social policies and risk assessment procedures. FS10 Percentage and number of companies held in the institution’s portfolio with which the reporting organization has interacted on environmental or social issues FS11 Percentage of assets subject to positive and negative environmental or social screening FS12 Voting policies applied to environmental or social issues for shares over which the reporting organization holds the right to vote shares or advises on voting FS13 Access points in low-populated or economically disadvantaged areas by type FS14 Initiatives to improve access to financial services for disadvantaged people. FS15 Policies for the fair design and sale of financial products and services FS16 Initiatives to enhance financial literacy by type of beneficiary Page Note 18 Note 19 Note 19 Note 19 Note 19 Note 19 82 n/a 81-82,84-85 n/a Note 18 Note 18 85 Note 18 Note 18 Note 18 81-86 Note 18 Note 15 n/a n/a 89 27-28 27-28 27-28 n/a 48,53 49-50,57-58 n/a n/a n/a n/a n/a 60 49-50 25-28 72 GRI Indicator Table And Global Compact (Communication On Progress) Notes Note 1: Buenos Aires, Argentina. Note 2: In 2011 there were no significant changes in the organization’s size, structure or ownership. Note 3: Banco Macro presents its CSR Report on a yearly basis, the last one published being that of 2010. Note 4: In case of limitations to the scope and coverage of the Report, it is specified with a footnote when applicable. Note 5: There were no changes in the base to include information that may affect the period comparability in the Report. Note 6: Date measurement techniques, the grounds for calculations and significant changes compared with previous period are specified in the Report when applicable. Note 7: The report does not have an external verification. Note 8: The Board's Chairman is the President of the Bank. Note 9: No financial aids were received from governments. Note 10: The standard starting wage is up 152% on the Vital and Mobile Minimum Wage. Note 11: At Banco Macro, we give priority to local high managers and even many managers of different regions, considering their knowledge and diversity. Note 12: Although Banco Macro does not have a formal policy on the minimum notice period as regards organizational changes, when this happens a communication and training strategy is implemented to the corresponding staff. Note 13: The absenteeism rate in 2011 reached 3.73% and the number of days lost by disease registered 76,000. Note 14: The same base wage is applied to men and women according to professional category. Note 15: There were no penalties, fines or incidents in 2011. Note 16: Through the Asociación de Bancos Argentinos (ADEBA) (Argentine Banks Association). Note 17: No financial contributions were made to political parties. Note 18: Due to the nature of Banco Macro’s business, this indicator does not apply to the company. Note 19: No adjacent lands or spaces deemed high biodiversity protected areas are registered regarding the operations of Banco Macro. Explanatory notes: n/a: not available information Indicators that respond to the UN Global Compact Principle 98 / 99 About this report This year we published the fifth Banco Macro’s Corporate Social Responsibility Report through which we inform out stakeholders about the social, economic and environmental performance in 2011. To put this Report together, we used the principles and guidelines of G3 Guide of the Global Reporting Initiative - GRI12, applying Level “C”. The indicators were replied by adapting protocols to the Bank’s reality and the local situation. It also includes the indicators of Industrial Supplements Guide for the GRI Financial Sector. At the same time, this report shows our engagement to the 10 principles of the UN Global Compact: through the document called “Estableciendo la Conexión13” (“Establishing the connection”) that shows the relationship between said principles and the GRI indicators, we present our Communication on Progress (COP) 2011. The contents of this Report target all societies that make up Banco Macro and were gathered by an Operation Group especially created for this project. The latter includes referents from all areas of the Entity and is coordinated by the CSR Management. For the presentation of the Information, we carried out a Materiality Analysis under the Technical Protocol made by the GRI in the Framework of launching the new G3.1 Guide and the AA1000SES standard of the AccountAbility organization, our of which we selected those which are relevant for the Bank and its stakeholders14. 12 For further information about the GRI, see www.globalreporting.org 13 “Establishing the Connection”. A guide to make GRI sustainability reports and the Global Compact Communication on Progress, year 2007http://www.pactoglobal.org.ar/userfiles/file/GRIestableciendolaconexFINAL.pdf 14 For further information, see page 33 of this Report. We used the G3 Guide of the Global Reporting Initiative – GRI, reaching a "C" application level. GRI Indicator Table And Global Compact (Communication On Progress) General Coordination Milagro Medrano Corporate Social Responsibility Management Institutional Relations Direction Banco Macro Sarmiento 731 C1041AAO Ciudad Autónoma de Buenos Aires [email protected] Tel.: (011) 5222 6500 External Collaborators ReporteSocial www.reportesocial.com Design Tholön Kunst www.tholon.com Printing Gráfica Campichuelo This report has been printed on paper produced from sustainable forest exploitation with FSC certification and recycled wood or fiber. SGC-COC-04967 Certificate FSC Trademark® 1996 Forest Stewardship Council A.C. In contact We hope you will find this report interesting. For further inquiries or suggestions, do not hesitate to contact our CSR Management. We will be glad to receive your message. www.macro.com.ar