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Argentina's Banco Galicia bets on lower inflation, rates after HSBC deal By Reuters

Argentina's Banco Galicia bets on lower inflation, rates after HSBC deal By Reuters
investing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investing.com Daily Mail and Mail on Sunday newspapers.

Buenos-aires , Distrito-federal , Argentina , United-states , American , Fabian-kon , Walter-bianchi , Matias-baglietto , Banco-galicia , Javier-milei , Reuters , Grupo-financiero-galicia

HSBC Joins Firms Exiting Argentina Amid Milei Economic Makeover

(Bloomberg) -- Argentine President Javier Milei is trying to draw foreign investment to help stabilize a faltering economy. Some big international companies are abandoning the country instead.Most Read from BloombergUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsUS Inflation Refuses to Bend, Fanning Fears It Will Get StuckChinese Cement Maker Halted After 99% Crash in 15 MinutesApple’s India iPhone Output Hits $14 Billion in China ShiftBond Trader Places Record Futures Bet on Ev

United-states , Argentina , Buenos-aires , Distrito-federal , Argentine , American , Bloomberg-businessweek , Grupo-financiero-galicia , Noel-quinn , Fabian-kon , Eduardo-constantini , Galicia-kon

HSBC joins firms exiting Argentina amid Milei's economic makeover

Foreign companies reluctance contrasts with local optimism; Exxon and Clorox decided to divest investments in Argentina.

Buenos-aires , Distrito-federal , Argentina , Argentine , Noel-quinn , Banco-itau , Javier-milei , Eduardo-constantini , Grupo-financiero-galicia , Galicia-kon , Fabian-kon , Bloomberg

Argentina's Banco Galicia bets on lower inflation, rates after HSBC deal

Argentina's Banco
Galicia, buying HSBC's local assets in a near $500 million deal,
is betting that new libertarian President Javier Milei will
bring down soaring inflation and ease rates to boost...

United-states , Argentina , Buenos-aires , Distrito-federal , American , Josie-kao , Walter-bianchi , Javier-milei , Fabian-kon , Adam-jourdan , Banco-galicia , Reuters

Argentina's Banco Galicia bets on lower inflation, rates after HSBC deal

Argentina's Banco Galicia, buying HSBC's local assets in a near $500 million deal, is betting that new libertarian President Javier Milei will bring down soaring inflation and ease rates to boost lending in the South American nation. The local financial group's chief executive Fabian Kon told Reuters after the HSBC deal was confirmed that Milei's pro-market approach and tough fiscal policies should benefit the banking sector and help bring down inflation running over 275%. "As Argentina converges to lower inflation rates and lower interest rates you will see an explosive increase in credit," he said in a phone interview.

Buenos-aires , Distrito-federal , Argentina , United-states , American , Walter-bianchi , Fabian-kon , Adam-jourdan , Josie-kao , Banco-galicia , Javier-milei , Reuters

Argentina's Banco Galicia Bets on Lower Inflation, Rates After HSBC Deal

Argentina's Banco Galicia Bets on Lower Inflation, Rates After HSBC Deal
usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.

Argentina , United-states , Buenos-aires , Distrito-federal , American , Walter-bianchi , Josie-kao , Banco-galicia , Matias-baglietto , Fabian-kon , Javier-milei , Adam-jourdan

Argentina's Banco Galicia bets on lower inflation, rates after HSBC deal

Argentina's Banco Galicia bets on lower inflation, rates after HSBC deal
streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.

Argentina , United-states , Buenos-aires , Distrito-federal , American , Josie-kao , Javier-milei , Banco-galicia , Walter-bianchi , Adam-jourdan , Fabian-kon , Reuters

Argentina's banks face a tough year: bad loans, inflation and regulations

The central bank requires banks to pay minimum rates of 37% on retail deposits, while allowing them to charge just 24% on loans to small and midsize companies
Rising inflation plus bad loans and government regulations anticipate a tough 2021 according to the CEO of Argentina's biggest private bank by market capitalization. “If inflation is high, there is a risk that bank results will fall to very low or negative levels in real terms,” Fabian Kon said in an interview in Buenos Aires.
In effect Argentina's inflation which was 36% in 2020, despite many prices and rates frozen, could end up over 40% this year adding to the problems of an economy devastated by three years of recession, and before that eight years of stagflation. This has had an impact on bad debt, lesser demand for new loans and a raft of banking regulations.

Buenos-aires , Distrito-federal , Argentina , Fabian-kon , Banco-galicia , Grupo-financiero-galicia , Financiero-galicia , Banco-macro , புஏனோஸ்-ஐரிஸ் , திஸ்திரிதோ-கூட்டாட்சியின் , அர்ஜெண்டினா