Argentina's largest bank, federally owned Banco Nacion, plans to boost its export and import financing operations for small-and medium- sized enterprise (SME) next year as part of its growth strategy in that segment, said Nacion's senior VP and head of financial institutions and correspondent banking Patricio Suarez.
The SME segment has always been a core business for Nacion and the bank is already the country's largest export and import financier in that segment, Suarez said, without providing figures.
Both export and import activity is set to pick up next year in Argentina as the economy gradually recovers and local exporters continue to enjoy a favourable exchange rate.
Next year the local financial system will "without a doubt" see export and import financing increase in a significant way, Suarez said, adding that current levels are still very low compared to pre-crisis levels so there is much room for growth.
