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Banco Patagonia S.A.

Company Detail


Banco Patagonia is an Argentine bank that offers a range of banking products and services, including e-banking, custodial services, check administration and commercial loans, to individual customers and businesses. It also provides foreign trade, investment and financial advisory services. In 1997 Banco de Río Negro and Banco Mildesa merged operations, and a year later the combined entity acquired some branches from Banco Almafuerte and Banco Mayo. The bank then adopted the brand name Banco Patagonia. In 2003, it merged with Banco Sudameris Argentina, operating as Banco Patagonia Argentina until 2004. That year, it absorbed Lloyds TSB Bank plc Sucursal Argentina's operations, and was renamed Banco Patagonia. Its main shareholder is Brazil's Banco do Brasil (BB), which acquired a stake in Banco Patagonia in 2010 by paying US$480mn to its former controllers, the Stuart Milne brothers. Banco Patagonia also has a presence in Uruguay, where its private banking unit was turned into a fully fledged bank in 2012.

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