RIO DE JANEIRO, BRAZIL - The migration of Argentines to Uruguay made Banco Patagonia decide to stop its operations in the neighboring country since, as an offshore bank, its main clients became residents and could no longer operate with the entity.
According to Juan Trejo, responsible for Investor Relations of the entity, Banco Patagonia (Uruguay) began withdrawing its operations from that market. It submitted the request to the Central Bank of Uruguay for that purpose.
Its clients were almost all Argentines, but many of them moved to Uruguay and became residents, so they could no longer operate with the bank.
Banco . . .
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