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Half of Banco Nación’s assets are invested in bonds

Half of Banco Nación’s assets are invested in bonds

Experts warn about the risks posed to financial institutions by increasing their level of exposure to public sector debt, in the face of a possible problem that forces the State to reschedule maturities in the electoral context. Or, before a possible political decision that the future government takes in 2024, in case the current opposition wins the elections, similar to the one it already took in 2019.

For the Moody’s rating agency, there is a high systemic risk for banks given the vulnerability shown by the situation of the Central Bank. “Banks’ credit profiles will be increasingly susceptible to the risks of refinancing government debt and changes in monetary conditions,” the firm warned. The BNA is one of the most exposed to public titles.

The Banco Nación, together with the Central Bank and the Anses, have become in the last year the main supporters of the price of Treasury billswhich periodically suffer some disarmaments (although of a lesser magnitude than those that occurred in June) due to the concern generated by the growing mass of maturities in the months prior to the 2023 elections.

For the officials of the entity, the reality is different. Martín Pollera, director of the BNA who took office after the arrival of Silvina Batakis at the bank, after her brief stint at the Ministry of Economy, considers that “9 out of 10 loans granted from Banco Nación are to SMEs.” However, it is necessary to weigh the large portion destined to finance the Treasury.

“From January 2020 to date, 131,000 SMEs have accessed loans from our bank. In difficult situations like this, the effort has to be double”, stressed Pollera, who recalled that “20 days ago we added a new $15,000 million to provide SMEs”. The official stressed that the role of public banks is to “preserve, preserve and defend the spirit of SMEs, accompany them to grow.”

Pollera contrasted with the policy of Banco Nación during the macrismo that “was in function of financing layoffs” and that “at that time for the first time the bank had a deficit for three years.”

Source: Ambito

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