News of banking

Argentina’s Brubank plans push into Colombia, Peru in 2022

12-08-2021 15:12 Argentine digital bank is looking to expand to Colombia and Peru in 2022 after raising more financing at the end of this year.

Cryptocurrency

Economic downturn fuels crypto craze in Argentina

07-05-2021 08:00 As Argentines battles high inflation, a weaker currency and a shortage of US dollars, citizens have been putting their money into cryptocurrencies like Bitcoin, Tether, Etherium or Dai.

Bloomberg

MercadoLibre plans to double workforce with 16,000 new jobs

06-04-2021 14:26 Latin American e-commerce powerhouse will double its workforce across the region to handle the surge in online purchases, according to company staff.

BLOOMBERG

Argentine banks ask for some relief after worst year since 2007

27-03-2021 08:34 After posting their worst returns in 13 years, nation’s banks are blaming part of their losses on government’s pandemic measures and asking the Central Bank for help.

Bloomberg

MercadoLibre to invest record US$1.8 billion in Brazil

01-03-2021 22:01 Latin American e-commerce powerhouse MercadoLibre Inc. is more than doubling its Brazilian investment this year, planning to deploy in 2021 the same amount it spent in the past four years combined.

BLOOMBERG

Banco Galicia CEO: Inflation will keep battering banking returns

19-02-2021 12:42 Argentine banks took a beating last year, and the nation’s biggest lender says the industry is at risk of a repeat performance.

E-commerce

MercadoLibre eyes more cross-border shipping in land of red tape

24-08-2020 07:00 Already Latin America’s biggest company by market value, e-commerce giant is embarking on a new strategy to look across borders and boost international sales.

E-commerce boom

Pandemic proves beneficial for Mercado Libre as profits soar

17-08-2020 15:44 Mercado Libre doubled its sales (volume and invoicing alike) during the second quarter this year as the coronavirus pandemic arrived, sending profits soaring and pushing the Argentine firm's valuation up to around US$55 billion.

capital controls

Banks block accounts of those suspected of trying to circumvent dollar quota

17-07-2020 00:11 At least three of country's biggest banks have started to block dollar purchases via online platforms for clients suspected of using loopholes to purchase greenbacks beyond the US$200 limit.

Post-quarantine plan

‘Segmented’ reopening of shops, factories on cards to avoid bankruptcies

08-04-2020 11:20 Business leaders and trade unionists witnessing a government shift from isolation to “social distancing,” in order to allow for a resumption of activities amid fears of bankruptcy.

by Patricia Valli

Coronavirus pandemic

Clearing banks freed to pay salaries during quarantine

25-03-2020 16:33 Central Bank to allow the financial system to resume processing cheques, in order to allow the payment of wages.

PESOS v DOLLARS

Dollars under the mattress: Argentina's preferred way of saving

01-03-2020 20:15 Hit it by decades of inflation, recessions and cyclical devaluations, many Argentines prefer to take refuge in the dollar as a way of saving and hide their money "under the mattress."

Bloomberg

Mobile banking app offers way to invest in low-risk mutual funds

14-11-2019 18:25 As Argentines seek to maintain the value of their savings amid capital controls and 50 percent annual inflation, the Ualá app believes it may have the answer...