The banking system in Argentina consists of 62 banks including 13 government-owned banks and 49 private-sector banks of which 33 domestic banks and 16 foreign banks. The Central Bank of the Argentine Republic, founded on May 28, 1935, is the central bank of the country. Below are the largest and best banks in Argentina ranked by total assets.
Banco de la Nacion Argentina
Banco de la Nacion Argentina (BNA) is the largest bank in Argentina by total assets and deposits. It operates through approximately 640 branches and 2,500 ATMs across the country. The company offers a wide range of banking products and financial services to individual, corporate and SME customers. As of June 30, 2019, BNA had total assets of US$28 billion, deposits of US$23 billion and 17,700 employees.
Grupo Financiero Galicia
Grupo Financiero Galicia is the second largest financial institution in the country with 9,500 employees, 530 branches, and 2,050 ATMs and self-service terminals. The company is the largest credit card issuer with about 13.5 million credit cards (8.4 million by Tarjetas Regionales and 5 million by Banco Galicia). The Group’s main subsidiary Banco Galicia is ranked second by loans and third by deposits among private banks in the country. The company’s market capitalization was US$1.4 billion as of June 24, 2020.
Banco Santander Rio
Banco Santander Rio S.A. is the third largest bank in the nation by assets and the second largest by private sector deposits and loans according to Argentine Central Bank. As of March 31, 2020, Santander Rio reported US$11.8 billion in total assets and US$4.3 billion in loans. The Bank is headquartered in Buenos Aires and employs about 9,000 people. It was awarded as Best Bank in Argentina and Latin America by Global Finance magazine.
Banco Provincia (or Banco de la Provincia de Buenos Aires (Bapro)) is the fourth largest Argentine lender by assets, deposits and loans. Established in 1822, it was the first financial institution in Argentina and Spanish America. It is a state-owned bank with extensive network consisting of more than 420 branches and 1,740 ATMs in 135 municipalities within the Province of Buenos Aires and City of Buenos Aires. It also has branches in Sao Paulo, Brazil and Grand Cayman (Caymans Islands) as well as representative offices in Panama, Santiago (Chile) and Madrid, Spain.
Banco Macro is the fifth largest bank in Argentina by assets. As of March 31, 2020, it recorded total assets of US$8 billion, loans of US$4 billion and deposits of US$4.8 billion. With 8,770 employees, it operates a broad network consisting of 465 branches and over 1,500 ATMs throughout the entire country. In 183 districts, Banco Macro is the only banking institution. The Bank's shares are listed on the Buenos Aires Stock Exchange and the New York Stock Exchange (NYSE). Banco Macro subsidiaries are Banco del Tucumán, Macro Bank Ltd, Macro Securities, Macro Fiducia and Macro Fondos.
BBVA Frances (previously known as BBVA Banco Frances) is the 6th largest bank in Argentina with total assets of ARS 268 billion, loans of ARS 162 billion and deposits of ARS 193 billion. It operates a network of over 250 branches, 800 ATMs and 822 self-service terminals across all of the 23 Argentine provinces. The Bank employs approximately 6,100 people and serves 2.6 million clients.
HSBC Bank Argentina
HSBC Bank Argentina is one of the top 10 banks in the country. It employs approximately 4,000 people and provides a broad range of products and services to more than 1.2 million clients. The Bank operates as a subsidiary of UK-based HSBC Group, one of the largest financial institutions in the word.
Banco Ciudad (Bank of the City of Buenos Aires) is a government-owned bank providing financial services to individuals, small and medium enterprises as well as large companies through approximately 60 branches, 10 credit boutiques, and 20 annexes. Banco Ciudad is the eighth largest bank in Argentina by assets and the ninth largest by deposits. It has the highest credit ratings among domestically-owned Argentine banks.
Banco Credicoop (Banco Credicoop Cooperativo Limitado) is a non-profit organization providing financial services to individuals, cooperatives, small & medium enterprises and social economy enterprises. It offers savings and current accounts, credit and debit cards, insurance and lending products, investments, treasury management, foreign trade and other services. Through approximately 270 branches and 775 automatic teller machines (ATMs), Banco Credicoop operates in the following provinces: Buenos Aires, Mendoza, Rio Negro, Catamarca, Santa Fe, Córdoba, Chubut, Corrientes, Chaco, Entre Rios, Jujuy, La Pampa, Misiones, Neuquen, Salta, San Juan, Tucuman, San Luis, Santa Cruz and Santiago del Estero.
Banco Patagonia, founded in 1976, is the tenth largest bank in Argentina by assets, loans and deposits. With more than 790,000 customers, it has around 200 branches and 600 ATMs and employs 3,360 people. Banco Patagonia is owned by Banco do Brasil S.A. (80.4%), the second biggest bank in Latin America, and by Provincia de Rio Negro (3.2%).
Top 10 Argentine Banks by Deposits
Here are the 10 largest banks in Argentina based on deposits.
|Rank||Bank||Market Share of Private Sector Deposits|
|1||Banco de la Nacion Argentina||16.70%|
|8||HSBC Bank Argentina||4.30%|