Credit is expanding rapidly across the system and bad loans are
relatively sparse. Yet running a bank in Argentina is no easy
Bank of the Year, Argentina: Banco Macro
Banco Macro has grown its balance sheet and kept its financial metrics sound over the past year
A deteriorating economy and the government’s
long-running dispute with bondholders since its 2001 default
have taken a toll on the sovereign’s ratings.
Moody’s, Standard & Poor’s and
Fitch have all downgraded Argentina in the past 12 months,
which has a knock-on effect to bank ratings.
For Fitch, the banks’ ratings were
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