Bank of the Year Argentina

Bank of the Year Argentina

Corporate & Sovereign Strategy Bonds

Amid a tough economic backdrop and a heavily regulated banking industry, Banco Macro shines brightly among Argentine banks. “This was a bank that was almost nothing before the crisis and now it’s somebody,” says Franklin Santarelli, former head of Latin American financial institution ratings at Fitch, pointing to the bank’s growth in market share and strong capitalization. Still, Macro has not been immune to the domestic troubles. Fitch downgraded the international rating of Macro, along with other financial institutions in Argentina, in August last year, following a cut to the sovereign rating. Despite the lower rating, Fitch noted that Macro’s strong capital base and projected ea

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