For Santander Rio, economic activity is close to recovering growth – 04/12/2018



The head of the Santander Rio Bank, Enrique Cristophonie, considered that the government's decision to bet on a competitive and floating exchange rate, financial balance, and an overtime monetary policy Will allow economic recovery once again in 2019. "There are some sectors more competitive than others, however Growth is a certainty that will occur in the coming months"The banker stressed, in the traditional meeting with the press that the organization organizes every year end.

Christophery rescued that during the crisis that broke in April, the financial system acted as "Container" and not like "propagator" of the volatility, Since the banks as a whole demonstrated two qualities greatly appreciated during the turbulence: Solvency and liquidity. And it was possible, stressed the banker, "because for the first time in a long time Argentina went through a crisis and will emerge from it Without breaking contracts or rules of the game. "

In this regard, he also stressed that Delinquency remains low (2.3% of total loans) and stressed that it is "extremely inaccessible" to say that the payment range is broken.

On the financial system, however, he said that he is still "very small" and to grow he must maintain the policy of positive interest rates for the savior. If the deposits do not grow, the loan can not grow, he said.

He also referred to the macro economic context. "We see that society and the political class It has assumed that the need to achieve and maintain financial balance. Society agrees with the concept, so I do not see business and politicians moving away from the need. "

For the end, a very political definition: "We come from the decadence decadence, and to get out of the cycle, we need time, but also to acknowledge that, today First time I think and I feel we have a very good chance of winning the battle against populism ".


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