Itaú Unibanco, a top-tier private bank from Brazil, is considering the sale of its Argentine branch and has entered preliminary talks with Banco Macro.
On Tuesday (6), Itaú Unibanco issued a statement addressing recent reports regarding the potential sale, noting that it has not yet signed any binding agreements pertaining to the process.
Banco Macro, a leading private bank in Argentina with a comprehensive network of branches, caters to all market segments, ranging from individual clients to large-scale businesses across the country.
In its own statement, Banco Macro confirmed the ongoing negotiations, stating, “Banco Macro is consistently assessing various business opportunities.”
Presently, Itaú’s Argentine branch contributes a mere 0.16% to its global business.
In contrast to its strategic moves in Chile, where Itaú aims to increase its capital share in its local subsidiary, the bank appears to be seeking a departure from Argentina through this potential transaction.
Itau bank, Banco Macro, Brazilian banking giant Itaú Unibanco seeks exit from Argentina,