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TOP-8 Banks in Argentina

At the end of the twentieth century, there were over 300 banks in Argentina. Foreign investment in the late 1990s spurred economic reforms, and the financial system strengthened. The higher economic activity encouraged mergers and acquisitions, reduced the number of banks to around 100 at the start of the twenty-first century, and improved management and efficiency.  The state-owned banks dominate the country’s banking sector. Argentina has 13 state-owned and 49 private sector banks. The following article lists the TOP Argentinean banks.

Grupo Financiero Galicia

Banco Galicia was established in 1905 and is one of Argentina’s largest private-sector commercial banks. The bank has more than 5,000 workers and offers banking services to more than seven million clients. It runs a comprehensive network of over 600 branches and e-banking centers. Banco Galicia has investment deposits, personal and home loans, debit and credit cards, security lockers, online and mobile banking wealth management. It provides several insurance services as well. In 2019, the gross assets of the bank amount to $14,19 billion, with a net profit of over $100 million.

Banco de la Nacion Argentina

The Banco de la Nación Argentina (BNA) is in business since 1891. Headquartered in Buenos Aires, it is Argentina’s biggest bank in terms of deposits and reserves. The bank employs more than 17,000 people and has a network of 625 branches and 2,758 ATMs. BNA offers numerous corporate and private banking facilities to clients, enterprises, and small and medium-sized firms. In 2018, the bank posted $53 billion in net assets.

Banco Macro

Headquartered in Buenos Aires, Banco Marco was incorporated in 1988. The bank has over 8700 employees working in a network of about 463 branches, more than 1,530 ATMs, and over 950 self-service terminals across the country. The Banco Macro offers financial services to individuals and corporate customers. As of 2020, the bank reported assets of US$7.9 billion, with $4.8 billion deposits. Additionally, the Annual Net Income of the bank was $427 million in 2019.

Banco Hipotecario

Headquartered in Buenos Aires, Banco Hipotecario is in operation since 1886. The bank employs over 1800 people and has 60 branches and an additional 17 sales offices across the country. The bank specializes in real estate lending. Banco Hipotecario serves individuals, corporations, and small and medium enterprises. The banks’ estimated assets are equal to about $3.5 billion with a $33 million net profit.

Banco Provincia

Banco Provincia is among the largest state-owned banks. It has a vast network of over 400 branches, about 1,700 ATMs, and employs more than 10000 staff.  Concerning assets, deposits, and loans, the bank is the fourth-largest lender. According to a 2018 estimate, the bank’s total assets amount to $16.8 billion with over $13 billion deposits.

Apart from the banks mentioned earlier, a few note-worthy Argentinean banks with a substantial market presence are ICBC, BNP Paribas, Banco Santander Rio, HSBC Bank, and Banco Patagonia, etc. these banks collectively serve a significant portion of the population.

BBVA Argentina

Established in 1979, BBVA Argentina is one of the biggest banks in Argentina. The bank was initially called BBVA Banco Francés before the name was changed to BBVA Argentina after some restructuring. BBVA Argentina has over 200 branches across the country with over 800 ATMs that dispense cash to its clients. In addition, customers are able to access about 900 self-service stations, which makes banking with BBVA Argentina easy.

As a subsidiary of the main BBVA Group, BBVA Argentina offers a wide range of banking services to about 3 million Argentinians through a workforce of almost 6,000 workers in different sections of the country.

Banco Credicoop

Banco Credicoop was established in 1979 when tens of credit operators were merged into a single financial institution. Since then, the bank has operated as a non-profit financial institution. The bank offers monitory services to businesses as well as individuals with the sole aim of improving the social sector of the country. Banco Credicoop operates in several sections of the country. It has a sizable deposit, which has been accumulated through the contributions of tens of thousands of members.

Banco Credicoop has hundreds of branches all over the country. It offers a wide range of banking services. However, it predominantly provides loans to individuals and organizations.

Banco Ciudad

Banco Ciudad is owned by the Argentinian Government. Established in 1878, the bank was designed to provide financial support and services to people and enterprises with different financial capacities. Banco Ciudad has over 50 branches all across the country. It is considered by most experts amongst the top 10 banks in the country. Banco Ciudad is the bank most Argentinians prefer to borrow from as it currently has the best credit rating within local banking institutions. Like most Argentinian banks, the bank operates out of the country’s capital of Buenos Aires.

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