With a population of 43m, high per-head incomes by comparison with much of the rest of Latin America, and a very low level of private-sector credit as a percentage of GDP, there is scope for substantial growth in banking in Argentina in the medium-to-long term. Banking penetration has improved in recent years. The number of deposit accounts, at 39.2m in June 2014, is well above the pre-2001 crisis peak of around 22m.
However, the credit boom of recent years has not proved sustainable, and major macroeconomic-policy adjustments are now under way to rein in inflation, stem the outflow of foreign reserves, and reduce pressure on the currency. This will have a knock-on impact on the banking sector in the short term as credit demand slows sharply amid high interest rates and recession.

Financial services report 2

Banks 3

Insurers 7

Asset managers 9

Financial markets and instruments 10

Financial regulation 13

Monetary and currency policy 16

Argentina at a glance 17

Fundamental indicators 18

Key contacts 19

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