News of banking

UK fintech giant Revolut to acquire BNP’s Cetelem in Argentina

26-06-2025 14:46 Revolut, Europe’s largest digital bank, to acquire Argentina’s Banco Cetelem, a small local lender owned by BNP Paribas.

BUSINESS & FINANCE

Mercado Pago will apply for Argentina banking licence

28-05-2025 23:27 Mercado Pago, the digital wallet and financial services arm of MercadoLibre, will request a banking licence from Argentina’s Central Bank.

FINANCE & BANKING

Court halts transformation of Banco Nación into limited company

26-02-2025 18:06 Judge suspends implementation of decree from President Javier Milei seeking to transform state-owned Banco Nación into a limited company.

POLITICS & ECONOMY

Milei opens up Argentina's largest bank to private capital

20-02-2025 13:15 Before travelling to the United States, Milei signs decree transforming Banco Nación into a public limited company; Privatisation had been previously proposed by the government, but Congress rejected it.

FINANCE & BUSINESS

Nubank is taking new look at Argentina under Milei, CEO says

23-10-2024 12:13 Nubank “will watch” Argentina over the next 12 months, and is “taking a new look” at the country under President Javier Milei, says Chief Executive Officer David Vélez.

ECONOMY & POLITICS

Banco de la Nación wants to sell debt after a 30-year hiatus

09-10-2024 12:11 Daniel Tillard, the new head of Argentina’s largest bank, wants state-run Banco de la Nación to re-enter international capital markets for the first time in three decades.

FINANCES & BANKING

Mercado Libre hits back at Argentina's banks for ‘cartel’ tactics

26-08-2024 14:57 Mercado Libre accuses Argentine banks of “illegally concentrating” under one payments platform as an anti-competitive tactic against the company’s fintech arm, Mercado Pago.

MARKETS

President Milei proves boon and curse for Argentine bank stocks

02-07-2024 11:30 Argentine banking stocks in New York are tumbling as the government slashes interest rates and crimps new borrowing.

BLOOMBERG – ANALYSIS

HSBC joins firms exiting Argentina amid Milei's economic makeover

10-04-2024 15:24 Foreign companies reluctance contrasts with local optimism; Exxon and Clorox decided to divest investments in Argentina.

BANKING & BUSINESS

HSBC sells Argentina division to Banco Galicia for US$550 million

09-04-2024 12:12 HSBC will sell its Argentina operation to Grupo Financiero Galicia for US$550 million, subject to price adjustments. Deal includes all of HSBC Argentina’s business, which ranges from banking to asset management and insurance, as well as US$100 million of subordinated debt.

CRYPTOCURRENCIES

Bitcoin a dud in El Salvador, first country to make it legal tender

11-01-2024 13:10 A poll released Wednesday showed that 88% of El Salvadorans did not use bitcoin last year in El Salvador, the first country anywhere to make the cryptocurrency a form of legal tender.

Presidential handover

Argentina stops banks from hoarding dollars ahead of devaluation

07-12-2023 13:34 Central Bank limits amount of foreign currency the nation’s commercial lenders can hold, in a push to discourage US dollar hoarding ahead of an expected devaluation by president-elect Javier Milei.

TRANSITION OF POWER

Argentine banks flee to one-day notes amid government transition

24-11-2023 14:34 Banks are fleeing to short-term notes for even more liquid securities as President-Elect Javier Milei’s vague comments on the debt have stoked concern over how he’ll handle the assets.

Election 2023

Argentina’s banks load up on liquidity before weekend’s election

15-11-2023 13:02 Local banks load up on the most liquid assets to ensure they could accommodate a potential surge in peso withdrawals ahead of run-off vote.

Currency woes

A US$500-million cash pile at Argentina’s main airport unnerves banks

19-10-2023 00:06 Banks have seen a sharp increase in dollar withdrawals at their branches ahead of the election. Forced to import cash to meet the surge in demand, a government move meant to stem “irregularities” in foreign trade has compounded concerns.

Dollarisation proposal

Peru’s Velarde says Argentines should be free to choose currency

06-10-2023 14:03 Julio Velarde, Latin America’s longest-serving central bank chief, says "people should choose what currency they want to keep their money in."