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Banelco (an acronym for Banca Electrónica Compartida) is an ATM network in Argentina. Established in 1985, it offers several services related to cash flow management, including debit cards, electronic transfers and service payments. Banelco is owned by private banks and operates 6.000 ATMs (one third of the total in the country). [1]
Brubank was founded in 2017. Juan Bruchou, CEO of Citibank Argentina, had proposed an entirely digital bank, without branch offices. Brubank obtained license by the Central Bank of Argentina to operate in September 2018. After a first "friends and family" trial, Brubank launched its app on Apple and Android stores. [5]
Long a significant supplier of domestic lending in a credit-tight economy, the bank attempted—with only partial success—to revive the local credit market during the tenure of Gabriela Ciganotto, who stated the main goal of the bank in her inauguration speech in 2006 as "putting [the bank] at the service of production, especially small and medium businesses, and not of speculation."
The bank, maintains deposits of around US$7.7 billion (nearly 7% of the total), and a lending portfolio of US$6.4 billion (8% of the total); the 3.5 million Santander Argentina credit cards (a 13% market share) make it a close second as the largest issuer of these in Argentina, next to Galicia Financial Group. [2]
Banking penetration remains low and banking costs high. The Argentine banking sector is currently dominated by state-owned banks, with the largest being the Banco de la Nación Argentina. In 2005, for the first time since the 2001 collapse, the banking system made a profit, according to a Central Bank report released in February 2006. The total ...
In 2017, the bank once again relocated its headquarters in the newly built Torre BBVA. [4] In 2019, BBVA unified its brand worldwide and BBVA Francés was renamed BBVA. [5] In 2023, BBVA Argentina had 243 branches (56 of them digital and 24 fully digital), 895 ATMs, and 861 ATSs across the country. [6]
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The New Bank of Santa Fe (Spanish: Nuevo Banco de Santa Fe, NBSF) is the most important financial entity in the Santa Fe Province, Argentina and has the largest territorial coverage that reaches 96 percent of the district's inhabitants. It is a commercial bank with national and regional capital (finance).