Latin Finance - March/April 2010 - 72

argentine banking special report The Spanish-owned bank was the pioneer in o ering promotions to its then 1 million client base after the crash, a smart move given the loss of purchasing power su ered by many Argentines in the devaluation and the risks and restrictions then associated with o ering credit. The o er of discounts on shopping, fuel and other purchases has helped the bank double its customer numbers and has been avidly copied by rivals, becoming a key feature of Argentine domestic banking. As a result, people keep their money in the bank, not under the mattress, and 50 per cent of deposits are “transactional”, meaning people operate with cards, not cash. “By keeping that money in the bank, it is a very profitable source of funding in the context in which operating costs are not low because of the floor set by inflation,” says Guillermo Glattstein, head of strategic planning at Santander Río. However, instability and inflation – two perennial Argentine problems – are holding back growth in loan portfolios. “Our biggest pain is that clients don’t want to borrow,” says Johan Roets, head of personal and business banking for the Americas at South African-owned Standard Bank in Argentina, sitting in his bank’s 27th floor meeting room with its spectacular eagle’s eye view over the city’s financial district. “I think people are scared because of uncertainty about what is going to happen to the country, which is a pity,” he says. “You can’t have political explosions and think people will say ‘let’s go and start a small business or open a factory’ because they are rightly nervous.” In times of crisis, Argentines typically rush to buy dollars. “The biggest risk in the Argentine banking system is liquidity. In a month, you can lose 15 percent of your deposits so you have to price in the cost of managing that risk,” Roets adds. Credit should rebound this year as an expected economic recovery kicks in, says Aldo Abram, executive LATINFINANCE March/April 2010

Latin Finance - March/April 2010

Table of Contents for the Digital Edition of Latin Finance - March/April 2010

Latin Finance - March/April 2010
Contents
Political Risk
Man of the Year
Santander Brazil CFO
Vale Fertilizer Strategy
Finance Minister Scorecards
Privatizing Codelco
Samurai Bonds
Peruvian Rail Investment
Brazil Investor Report
Parting Shot
Latin Finance - March/April 2010 - Latin Finance - March/April 2010
Latin Finance - March/April 2010 - Cover2
Latin Finance - March/April 2010 - Contents
Latin Finance - March/April 2010 - 2
Latin Finance - March/April 2010 - 3
Latin Finance - March/April 2010 - 4
Latin Finance - March/April 2010 - 5
Latin Finance - March/April 2010 - 6
Latin Finance - March/April 2010 - 7
Latin Finance - March/April 2010 - 8
Latin Finance - March/April 2010 - 9
Latin Finance - March/April 2010 - 10
Latin Finance - March/April 2010 - 11
Latin Finance - March/April 2010 - 12
Latin Finance - March/April 2010 - 13
Latin Finance - March/April 2010 - 14
Latin Finance - March/April 2010 - 15
Latin Finance - March/April 2010 - Political Risk
Latin Finance - March/April 2010 - 17
Latin Finance - March/April 2010 - 18
Latin Finance - March/April 2010 - 19
Latin Finance - March/April 2010 - 20
Latin Finance - March/April 2010 - 21
Latin Finance - March/April 2010 - Man of the Year
Latin Finance - March/April 2010 - 23
Latin Finance - March/April 2010 - 24
Latin Finance - March/April 2010 - 25
Latin Finance - March/April 2010 - Santander Brazil CFO
Latin Finance - March/April 2010 - 27
Latin Finance - March/April 2010 - Vale Fertilizer Strategy
Latin Finance - March/April 2010 - 29
Latin Finance - March/April 2010 - Finance Minister Scorecards
Latin Finance - March/April 2010 - 31
Latin Finance - March/April 2010 - 32
Latin Finance - March/April 2010 - 33
Latin Finance - March/April 2010 - Privatizing Codelco
Latin Finance - March/April 2010 - Samurai Bonds
Latin Finance - March/April 2010 - 36
Latin Finance - March/April 2010 - 37
Latin Finance - March/April 2010 - 38
Latin Finance - March/April 2010 - 39
Latin Finance - March/April 2010 - Peruvian Rail Investment
Latin Finance - March/April 2010 - 41
Latin Finance - March/April 2010 - 42
Latin Finance - March/April 2010 - Brazil Investor Report
Latin Finance - March/April 2010 - 44
Latin Finance - March/April 2010 - 45
Latin Finance - March/April 2010 - 46
Latin Finance - March/April 2010 - 47
Latin Finance - March/April 2010 - 48
Latin Finance - March/April 2010 - 49
Latin Finance - March/April 2010 - 50
Latin Finance - March/April 2010 - 51
Latin Finance - March/April 2010 - 52
Latin Finance - March/April 2010 - 53
Latin Finance - March/April 2010 - 54
Latin Finance - March/April 2010 - 55
Latin Finance - March/April 2010 - 56
Latin Finance - March/April 2010 - 57
Latin Finance - March/April 2010 - 58
Latin Finance - March/April 2010 - 59
Latin Finance - March/April 2010 - 60
Latin Finance - March/April 2010 - 61
Latin Finance - March/April 2010 - 62
Latin Finance - March/April 2010 - 63
Latin Finance - March/April 2010 - 64
Latin Finance - March/April 2010 - 65
Latin Finance - March/April 2010 - 66
Latin Finance - March/April 2010 - 67
Latin Finance - March/April 2010 - 68
Latin Finance - March/April 2010 - 69
Latin Finance - March/April 2010 - 70
Latin Finance - March/April 2010 - 71
Latin Finance - March/April 2010 - 72
Latin Finance - March/April 2010 - 73
Latin Finance - March/April 2010 - 74
Latin Finance - March/April 2010 - 75
Latin Finance - March/April 2010 - 76
Latin Finance - March/April 2010 - 77
Latin Finance - March/April 2010 - 78
Latin Finance - March/April 2010 - Parting Shot
Latin Finance - March/April 2010 - 80
Latin Finance - March/April 2010 - Cover3
Latin Finance - March/April 2010 - Cover4
https://www.nxtbook.com/nxtbooks/latinfinance/0319QMR
https://www.nxtbook.com/nxtbooks/latinfinance/1218JYM
https://www.nxtbook.com/nxtbooks/latinfinance/paraguay_2018
https://www.nxtbook.com/nxtbooks/latinfinance/8320YTM
https://www.nxtbook.com/nxtbooks/latinfinance/8465TBM
https://www.nxtbook.com/nxtbooks/latinfinance/1476YBW
https://www.nxtbook.com/nxtbooks/latinfinance/7835THM
https://www.nxtbook.com/nxtbooks/latinfinance/8655TGL
https://www.nxtbook.com/nxtbooks/latinfinance/0614IJP
https://www.nxtbook.com/nxtbooks/latinfinance/ecuador_20170910
https://www.nxtbook.com/nxtbooks/latinfinance/2713KNP
https://www.nxtbook.com/nxtbooks/latinfinance/4982CFT
https://www.nxtbook.com/nxtbooks/latinfinance/7803HWE
https://www.nxtbook.com/nxtbooks/latinfinance/3829THA
https://www.nxtbook.com/nxtbooks/latinfinance/7891MDD
https://www.nxtbook.com/nxtbooks/latinfinance/7714JCR
https://www.nxtbook.com/nxtbooks/latinfinance/5619CMK
https://www.nxtbook.com/nxtbooks/latinfinance/6939ASL
https://www.nxtbook.com/nxtbooks/latinfinance/1364ASF
https://www.nxtbook.com/nxtbooks/latinfinance/0453DAS
https://www.nxtbook.com/nxtbooks/latinfinance/0453DAS_supp
https://www.nxtbook.com/nxtbooks/latinfinance/1304APV
https://www.nxtbook.com/nxtbooks/latinfinance/7234GSD
https://www.nxtbook.com/nxtbooks/latinfinance/1643XGS
https://www.nxtbook.com/nxtbooks/latinfinance/9511JKM_supp
https://www.nxtbook.com/nxtbooks/latinfinance/9511JKM
https://www.nxtbook.com/nxtbooks/latinfinance/8745TNV
https://www.nxtbook.com/nxtbooks/latinfinance/3629PBC
https://www.nxtbook.com/nxtbooks/latinfinance/7466TBC_HSBC
https://www.nxtbook.com/nxtbooks/latinfinance/7466TBC_supp
https://www.nxtbook.com/nxtbooks/latinfinance/7466TBC
https://www.nxtbook.com/nxtbooks/latinfinance/9463RVB
https://www.nxtbook.com/nxtbooks/latinfinance/7345GPY
https://www.nxtbook.com/nxtbooks/latinfinance/6398TVB
https://www.nxtbook.com/nxtbooks/latinfinance/4899EXM_supp
https://www.nxtbook.com/nxtbooks/latinfinance/4899EXM
https://www.nxtbook.com/nxtbooks/latinfinance/3885CWS
https://www.nxtbook.com/nxtbooks/latinfinance/45923GBC
https://www.nxtbook.com/nxtbooks/latinfinance/67449NBD
https://www.nxtbook.com/nxtbooks/latinfinance/46733NLP
https://www.nxtbook.com/nxtbooks/latinfinance/78456HCL
https://www.nxtbook.com/nxtbooks/latinfinance/89456RBM
https://www.nxtbook.com/nxtbooks/latinfinance/22278HBL
https://www.nxtbook.com/nxtbooks/latinfinance/2895YBM
https://www.nxtbook.com/nxtbooks/latinfinance/9033TBM
https://www.nxtbook.com/nxtbooks/latinfinance/8934TNP
https://www.nxtbook.com/nxtbooks/latinfinance/costarica20130304
https://www.nxtbook.com/nxtbooks/latinfinance/4672PNB
https://www.nxtbook.com/nxtbooks/latinfinance/9377BKL
https://www.nxtbook.com/nxtbooks/latinfinance/drmtest
https://www.nxtbook.com/nxtbooks/latinfinance/drmtest2
https://www.nxtbook.com/nxtbooks/latinfinance/5532LMC
https://www.nxtbook.com/nxtbooks/latinfinance/9044TBM
https://www.nxtbook.com/nxtbooks/latinfinance/4877RBC
https://www.nxtbook.com/nxtbooks/latinfinance/3008JHV
https://www.nxtbook.com/nxtbooks/latinfinance/3728YBC
https://www.nxtbook.com/nxtbooks/latinfinance/9337KLM
https://www.nxtbook.com/nxtbooks/latinfinance/5674GNJ
https://www.nxtbook.com/nxtbooks/latinfinance/8330KMC
https://www.nxtbook.com/nxtbooks/latinfinance/7663HCM
https://www.nxtbook.com/nxtbooks/latinfinance/2319ZMB
https://www.nxtbook.com/nxtbooks/latinfinance/7110MKL
https://www.nxtbook.com/nxtbooks/latinfinance/8599FHG
https://www.nxtbook.com/nxtbooks/latinfinance/4517HJK
https://www.nxtbook.com/nxtbooks/latinfinance/7813GHB
https://www.nxtbook.com/nxtbooks/latinfinance/1564FBM
https://www.nxtbook.com/nxtbooks/latinfinance/8884HGV
https://www.nxtbook.com/nxtbooks/latinfinance/7863SVB
https://www.nxtbook.com/nxtbooks/latinfinance/5233SFB
https://www.nxtbook.com/nxtbooks/latinfinance/5899SML
https://www.nxtbook.com/nxtbooks/latinfinance/4311PMN
https://www.nxtbook.com/nxtbooks/latinfinance/1366FBB
https://www.nxtbook.com/nxtbooks/latinfinance/9355AXC
https://www.nxtbook.com/nxtbooks/latinfinance/8559EBN
https://www.nxtbook.com/nxtbooks/latinfinance/8244QXC
https://www.nxtbook.com/nxtbooks/latinfinance/1779BBN
https://www.nxtbook.com/nxtbooks/latinfinance/7144XVB
https://www.nxtbook.com/nxtbooks/latinfinance/8971QGH
https://www.nxtbook.com/nxtbooks/latinfinance/200805
https://www.nxtbook.com/nxtbooks/latinfinance/200804
https://www.nxtbook.com/nxtbooks/latinfinance/200803
https://www.nxtbookmedia.com