Banco Nación: in 2023 loans hit a historic floor

Banco Nación: in 2023 loans hit a historic floor

Loans for the productive sector and families fell in the entity to the historical minimum of 25.8% on deposits; In parallel, the bank added profits of US$2.2 billion, mostly from the purchase of public securities.

He Banco Nación (BNA) released its balance sheet to December 31, 2023, from which it follows that, in the last year of the previous administration, the Loans to the private sector were reduced to a historical minimum: 25.8% of total deposits. At the same time, loan portfolio irregularity increased to 12.2%which represents a deterioration compared to the rest of the financial system, BNA reported.

“While the BNA restricted loans to families and SMEs, it acquired Leliqs and public securities to finance the National Treasury deficit”criticized the entity.

At the end of the year, the entity “exhibited a profit equivalent to US$2,200 million or 47% on the capital, which came mostly from public securities, in accordance with the monetary policy in force in the previous administration, which directed the banks to finance the government deficit he added.

Banco Nación and historic collapse of loans: what its president, Daniel Tillard, said

In this sense, the president of the BNA, Daniel Tillard assured that “The ongoing economic reorganization of the Government of President Javier Milei is generating a substantial change in the banking business. The performance of the BNA must be based on increasing loans in favor of SMEs and families and simultaneously achieving greater efficiency in its operations” .

Finally, he stressed: “The transformation into a Public Limited Company is essential for growth, to achieve efficiency and improve transparency in the management of the Bank.” In its origins, the BNA was founded “132 years ago at the initiative of Carlos Pellegrini with the aim of being at the service of industry and commerce and in favor of small industrialists.”

In the new omnibus law project that the Government seeks to reach a consensus with the governors, Banco Nación is part of the group of public companies, to which the Executive hopes to be able convert into joint venturesWith Nucleoelectrica Argentina and Argentine Satellite Solutions Company.

Source: Ambito

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