Twin Survivors

Twin Survivors

Corporate & Sovereign Strategy

There are only two truly solvent banks left standing in Argentina, almost two years after the country spiraled into the worst economic crisis in its modern history. The default and devaluation of 2001-2002 reduced the country's biggest banks to a shadow of their former selves. But two banks did manage to survive the disaster and lay the foundations for growth as the economy begins recovering. For this achievement, LatinFinance this year has decided to award Banco Patagonia Sudameris and Banco Macro a joint prize as Argentina's banks of the year for 2003. Both banks are relatively small. In June, Patagonia had assets of $650 million and Macro had $1.5 billion in assets. But they do make mon

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