Santander was at the centre of Argentina’s rapidly changing FX market in 2025. As restrictions on individuals buying dollars were removed and controls on companies gradually eased, the bank utilised its large domestic franchise and international capabilities to generate strong growth across every principal client segment.
During the review period, corporate FX volume rose by more than 50% year-on-year, while SME spot volumes rose by more than 60%. The revival of retail FX was equally striking: Santander served approximately 780,000 individual clients and processed nearly $5 billion following liberalisation of domestic restrictions.
Its handling of two significant public sector transactions demonstrated capabilities beyond everyday flows
The bank had already prepared its infrastructure for the increase in activity.
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