Brief: Argentina's financial system sees pre-tax income surge
Argentina's financial system reported pre-tax income of 26.1bn pesos (US$728mn) for August, up from 7.19bn pesos a year earlier, according to a central bank estimate.
The net interest margin of the system – which comprises banks and non-bank financial institutions – was 47.9bn pesos, up from 24.6bn a year earlier. A key driver was the debt instrument segment.
Administrative costs were 23.6bn pesos, up from 16.3bn pesos.
Annual inflation in August was running at 34.4%.
ALSO READ: Loan demand weakens in Argentina as economy wheezes
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News in: Political Risk & Macro (Argentina)
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