LATIN AMERICA
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ARGENTINA |
Best Bank: Santander Argentina |
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Best Investment Bank: JPMorgan |
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After three years of recession, compounded by a global pandemic during the past twelve months, Argentine banks would be forgiven for feeling stuck at the bottom of the credit cycle. Credit in real terms is shrinking, particularly in the consumer sector and banks aren’t able to offset loan portfolio growth with high returning government securities under this administration’s monetary policy, which eschews positive real interest rates.
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