Grupo Financiero Galicia: HSBC Argentina Acquisition Adds New Fuel To The Bull Case
GGALGrupo Financiero Galicia(GGAL) Seeking Alpha·2024-04-15 12:07

Natalia SO/iStock Editorial via Getty Images Argentina’s banking system has long been a fragmented one, with no major bank, not even the state-owned Banco Nacion, holding a dominant share of system assets. But ongoing economic turbulence and the rise of a new economic regime under President Javier Milei mark a potential step-change in future industry dynamics. Last week’s exit by HSBC Holdings plc (HSBC) from Argentina, coming on the heels of a similar move by Itaú Unibanco (ITUB) last year, only reinforced ...