November 1, 2010
It has the biggest private sector loan portfolio and deposits in Argentina, with 10.0% and 9.5%, respectively, of market share as of March 2010, according to the bank.
Santander is also the most efficient bank in Argentina with a cost income ratio of 39% and it also has the highest fees/expenses ratio, of 90%, according to the bank. Glattstein says the key has been to focus on sectors which it believes will be most profitable, such as SMEs, agriculture and high-and-middle-income individuals.
The banks market share by assets is 16%, joint with Galicia and ahead of Macro, which had 14% as of March 2010, according to Santander. Its ROA was 4.4%, compared to the system&
Santander Río’s strength in retail contributes significantly to it being the most profitable private financial institution in Argentina, says Guillermo Glattstein, strategic planning manager at the bank.