LatinNews Daily - 20 February 2025

*Argentina’s President Javier Milei has issued a decree designating the state-owned bank Banco de la Nación Argentina as a “sociedad anónima” (S.A.), making it a public limited company. The decree states that the Argentine government will retain control of 99.9% of the bank’s shares, with the bank’s foundation holding the other 0.1%. Milei’s decree states that the change will “modernise its legal and operational structure, allowing greater flexibility in its management and adaptation to best practices in the financial market, incorporating more agile and efficient corporate governance mechanisms and an administration that is more professional and aligned with international standards of transparency, efficiency, and control”. It added that the bank’s transformation will “optimise the assignation of resources, strengthen its position in the market and boost its financing capacity, benefitting its clients and economic development in general”.