Banco Patagonia

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Banco Patagonia S.A.
Sociedad Anónima
Traded as BCBA: BPAT
BM&F BovespaBPAT11
Industry Finance and Insurance
Founded 1976; 41 years ago (1976)
Headquarters Buenos Aires, Argentina
Key people
Jorge Guillermo Stuart Milne, (Chairman)
Products Banking
Revenue Increase US$ 600.7 million (2012) [1]
IncreaseUS$ 180.1 million (2012) [2]
Total assets IncreaseUS$ 5.6 billion (2012)
Number of employees
2,660
Parent Banco do Brasil
Website bancopatagonia.com.ar

Banco Patagonia is an Argentine commercial bank headquartered in Buenos Aires. The company operates in the individual, as well as small and medium-sized business banking segments, and has currently more than 775,000 clients. Currently it is the sixth-largest bank in Argentina.

Banco Patagonia was established as a brokerage house in 1976. Following its entry into the auto loan sector in 1987, it became a commercial bank (Banco Mildesa) in 1988. Mildes grew with the 1996 acquisition of the newly privatized Banco de Río Negro, and was renamed after the latter province's region of Patagonia, in 2000.

Patagonia acquired the insolvent Banco Sudameris (whose portfolio included the Caja de Ahorro, the nation's largest savings and loan), in 2003. Absorbing Lloyds TSB's Argentine operations in 2004, it grew to become one of the 15 largest banks in Argentina, and has branches in Brazil and Uruguay. Banco Patagonia is listed on the Buenos Aires Stock Exchange and the BM&F Bovespa, in São Paulo.

It is owned by Banco do Brasil, the largest bank in Latin America. Banco do Brasil holds 58.96% of the shares of Banco Patagonia.[3]

References[edit]

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