RIO DE JANEIRO, BRAZIL - As Argentina begins its expected recovery in 2021, its largest banks — Banco Macro SA, Grupo Financiero Galicia SA, Banco Santander Río SA and Banco BBVA Argentina SA — might have to sit tight before their bottom lines benefit from any economic rejuvenation.
In fact, lenders in Latin America's third largest economy can expect profitability metrics to deteriorate even further next year, with higher inflation and fresh rounds of regulation piling on to existing margin pressure, analysts say.
An extended lockdown on the back of two consecutive years of economic shrinkage prior to the pandemic has . . .