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Awards

Latin American Awards for Excellence 2012: By country

 
Awards for Excellence 2012
Regional Awards for Excellence 2012: Latin America
All regions and countries
Latin American winners by country
Argentina
Bolivia
Brazil
Chile
Colombia
Ecuador
Mexico
Paraguay
Peru
Uruguay
Venezuela

Argentina

Best Bank: Santander Rio
Best M&A house: Credit Suisse

Despite strong recent GDP growth (8% in 2011) the Argentine financial system is under increasing pressure. Since president Cristina Kirchner introduced new capital controls in October 2010, $3.5 billion in foreign-currency deposits – mostly US dollars – has left the banking system. Argentines, remembering the forced conversion of dollar deposits into pesos in 2002, and seeing a widening gap between the official and unofficial dollar conversion rates, are shunning the banks in favour of hard assets, such as real estate, or storage under the mattress. However, the outflows are unlikely to pose a systemic risk to the banking system as foreign-currency deposits account for about 20%, with the rest – peso deposits – totalling Ps484 billion ($107.8

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