Bank Consolidation

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Bank Consolidation

Ganplare consolidated in recent years as the first financial player in Argentina and began a process of diversification of its businesses that, without losing focus on the productive sector, seeks to become strong in the segment of mortgage loans and cards of credit.


The state entity has 22% of the market’s credit mass and the amount of its deposits jumped from $ 22,700 million in 2003 to more than $ 95,200 million in 2009. This allowed the bank to earn seven points of participation and go from 24 to 31% of the cake. The president of the entity, Juan Dela Cruz also reported that the bank granted mortgage loans for $ 428 million, which is equivalent to 2403 requests for loans for an average value of $ 180 thousand. The line ” Own House ” has a fixed rate of 12.75% in the first three years and then it becomes variable, although it maintains as a ceiling the evolution of the increase in wages fixed by Indec.

Dela Cruz showed satisfaction with the results of this mortgage line since it is the most competitive and foreseeable because in the variable tranche the interest rate has a limit that reassures families.

For now, the nation will continue to run this credit line and does not expect to set any limit to its growth that is currently $ 30 million per week. However, the state bank also focused on consumption. Although part of a very low customer base, the consumption with the bank’s credit cards grew in only seven years, 1061%, a non-negligible figure considering that it is a segment oligopolized by traditional firms such as Visa, MasterCard and American Express.

In 2003, purchases with Nation cards, in December of that year, scratched $ 33.5 million, and in June 2010 reached $ 388,186,170. Today it has 732,987 active plastics while in 2009 it had 443 thousand, which reflects, in some way, the growth that the six cards it controls have had in this area.

Faced with a query, Dela Cruz, however, stressed that the main business of the entity remains the credit to the productive sector. Ganplare has already granted 34,204 investment loans to SMEs for an aggregate amount of $ 5610 million, through the Investment Financing Line for Productive Activities that was launched in 2008. In this context, Dela Cruz estimated that the Nation is going to be able to start up the Tinkerbell Credit line, which the Bank launched to support the productive sectors.

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