Overview of Banks in Argentina
The Central Bank of Argentina (BCRA) was established in May 1935 with the purpose of promoting monetary and financial stability in the South American country. It is the implementing and regulatory body that controls the operation of banks in Argentina.
The different types of banks in Argentina are:
- Commercial banks
- Government-owned: Federal, provincial, and municipal
- Private local banks with Argentine capital: Cooperative banks and non-cooperative banks
- Foreign banks: Private local banks and local branches of foreign banks
- Investment banks
- Government-owned provincial banks
- Local banks with foreign capital
- Mortgage banks
- Development banks
- Savings banks
According to Moody’s, the outlook for Argentina’s banking system is positive, due to the improving local economy. The rating agency believes that an increase in consumption and investment will help drive economic growth and slow the country’s inflation.
For anyone considering a banking career in Argentina, this list of top banks in Argentina is a helpful guide on where to start. To learn more, see our list of financial institutions.
The top banks in Argentina are:
Banco Galicia is the largest of the private sector commercial banks in Argentina. Founded in 1905, the bank offers financial services to over nine million individual and corporate customers. It offers various savings accounts, personal and mortgage loans, debit and credit cards, security boxes, asset management, and investment services, as well as telephone, online, and SMS banking services. It also provides car, home, life, health, personal accident, combined family, robbery and extended warranty, trade, property, retirement, and other insurance services. It operates through a network of 423 bank branches and an electronic banking center.
As of 2016, the total assets of the bank were US$13 billion and net profit was US$322.93 million.
Banco de la Nacion Argentina
Founded in 1891, Banco de la Nacion Argentina provides commercial banking services in the country. With around 18,000 employees, the bank is headquartered in Buenos Aires.
In 2016, the bank reported total assets of US$31.31 billion and a net profit of US$408 million.
Banco Marco received a license to operate as one of the commercial banks in Argentina in 1988. The bank provides various financial products and services to individuals and corporate customers in Argentina. It is headquartered in Buenos Aires and currently employs around 8,700 individuals.
As of 2016, the total assets of the bank amounted to US$8.56 billion and net profit reached US$351 million.
Established in 1886, Banco Hipotecario offers banking and related financial services to individuals, small and medium enterprises, and corporations in Argentina. Headquartered in Buenos Aires, the bank focuses on real estate lending. It currently employs around 2,000 staff.
As of 2016, the bank’s total assets were US$3.6 billion and net profit was US$33 million.
Banco Patagonia was incorporated in 1886. As of December 31, 2016, the bank operated a network of 179 branches, 17 client service centers, and four agencies, as well as 568 ATMs and 357 self-service terminals. The company is headquartered in Buenos Aires, with around 3,500 employees at present.
In 2016, the bank reported total assets of US$4.136 billion and a net profit of US$175 million.
Incorporated in 1822, Banco Provincia operates as a public bank. Headquartered in Buenos Aires, Banco Provincia is one of the top five banks in Argentina. It offers current and savings accounts, loans, credit and debit cards, investments, mutual funds, lines of credit, foreign trade, SME banking, agricultural banking, and other services.
The bank currently employs around 10,500 individuals and operates through a network of 400 branches.
As of 2016, the total assets of the bank were US$12.88 billion.
Banco Santander Rio
Incorporated in 1886, Banco Santander Rio is indirectly controlled by Banco Santander SA. The bank provides various financial products and services to individual and business customers, as well as small and medium-sized enterprises in Argentina. It also offers life and casualty insurance products. The bank owns several subsidiaries, including Santander Rio Valores SA.
Formerly known as Banco Rio de la Plata, Banco Santander Rio is headquartered in Buenos Aires and employs around 6,000 staff.
As of 2016, the bank’s assets totaled US$11.037 billion and net profit amounted to US$278 million.
Founded in 1981, BNP Paribas is a subsidiary of BNP Paribas SA. The bank provides corporate and investment banking, asset management, retail banking, and security and insurance services. With around 9,500 employees, the company is headquartered in Buenos Aires.
HSBC Bank Argentina S.A. was established in 1903. The bank accepts savings and time deposit accounts and offers personal and secured loans. It is a subsidiary of HSBC Argentina Holdings S.A. The company serves 1.2 million customers and employs around 4,500 staff.
In 2016, the bank reported US$4.726 billion in total assets.
Industrial and Commercial Bank of China (Argentina) S.A. is a subsidiary of the Industrial and Commercial Bank of China Limited. Founded in 1984, the bank is headquartered in Buenos Aires, Argentina. It provides various financial products and services in Argentina and China and operates a network of 104 branches.
The company acquired an 80% shareholding in Standard Bank Argentina in November 2012 and officially changed its name to the Industrial and Commercial Bank of China (Argentina) Limited (“ICBC Argentina”) in April 2013. It employs around 3,600 individuals and is the only Chinese bank in Argentina.
As of 2016, the bank’s total assets amounted to US$4.015 billion.
Careers in investment banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map…. For banking careers, you will gain a significant edge over the competition with our financial modeling courses.
This has been CFI’s guide to the top banks in Argentina. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: