In this framework, and consulted by AmbitBotín also pointed out that it was relevant to advance in the negotiation with the organization, adding: “Above all this idea that a medium and long-term horizon must be drawn, which is what will generate this certainty for investors, and of course the agreement with him IMF it is very important in that sense ”.
At the same time, Alejandro Butti, Santander country head for Argentina, told Ámbito: “I think it is very important that we can close an agreement with the IMF, it should bring the necessary certainty, the guidelines for the next few years so that investors decide to return and the capital market can be reopened for the country.”
“The key is certainty and for this surely an agreement with the IMF should help us to increase it. We are auspicious that, in the coming weeks or a few months, we can close the agreement to gain that confidence and that the market opens, “said the manager.
“I ratify what Alejandro has indicated with respect to the IMF,” Botín said and, as anticipated above, added: “and above all this idea that a medium and long-term horizon must be drawn, which is what this certainty to investors, and of course the agreement with the IMF is very important in that sense ”.
The president of the bank stated with regard to Argentina that “I am impressed by the potential, the reality, the innovation, I have been with social entrepreneurs, but also with those who are in charge of large companies, it is a country with enormous potential in resources. It has the potential to feed 400 million people through agriculture and Vaca Muerta, it is a reality and it is already the second worldwide in terms of unconventional gas production and the fourth worldwide in unconventional crude oil. Furthermore, Argentina has the third largest lithium reserve in the world ”.
He also said: “The quality of human resources is especially remarkable in Argentina. They told me that, in terms of technology, they already have five unicorns. For me this is the important thing ”.
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In a meeting with journalists in which Ámbito participated, Botín confirmed the investment and highlighted the importance of the region for the group: “Latin America is part of our history and our present, and it will be an important part of our future. The region has the resources, social capital and experience necessary to progress and we are going to support the communities, clients and companies in the region, as we have done for the last three decades ”.
According to Botín, Latin America represents 40% of Santander’s profit, a company that serves almost 80 million clients (of the 152 million that the group has) in the region, mainly in Brazil, Mexico, Chile, Argentina and Uruguay. In addition, half of the group’s 193,000 employees work in Latin America.
During the conference, the executives pointed out that in recent years, Santander has transformed its franchises in the region. In Brazil, for example, they argued that the return on tangible capital (RoTE) has risen to the current 22% from 14% in 2015. Recently, the entity has also repurchased or submitted offers to repurchase stakes in its local banks in Brazil in 2014 or Mexico and in our country this year.
On Santander’s Investor Day in April 2019, Santander announced that it invests some US $ 5.6 billion a year worldwide in digital transformation and technology.
Botín pointed out that the energy transition represents an opportunity for Latin America due to the intensive use of raw materials that are abundant in the region, which has 30% of the world’s water reserves, 25% of the world’s copper reserves, 15% of those of iron, rare earths, lead, among others.
On the other hand, Botín said that Santander has made progress in financial inclusion in recent years in Latin America. “Its Tuiio and Prospera microfinance programs have granted loans to about 1.5 million people since their creation, within their plans to offer access to financial services to more than 10 million people between 2019 and 2025. In addition, Santander gives service to more than 700,000 clients through Superdigital, a financial inclusion platform whose objective is to reach five million active clients by 2023 in several Latin American countries, such as Argentina, Brazil, Chile, Mexico, among others ”.
Source From: Ambito
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