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|Banco Patagonia headquarters|
Banco Patagonia S.A. is an Argentine commercial bank headquartered in Buenos Aires. The bank provides a range of financial solutions for individuals, corporations, small and medium sized companies, private banks, and institutional customers. The firm is also involved in the insurance sector and it offers a range of insurance policies. Banco Patagonia has more than 750,000 clients and 154 branches in all Argentine provinces. Banco Patagonia S.A. is present in such countries as Uruguay, Brazil, Chile, Peru, Colombia and Mexico. Banco do Brasil holds 51% of the shares of Banco Patagonia.
Banco Patagonia, controlled by the Stuart Milne family, was formed nine years ago after Banco Mildesa bought Banco de Rio Negro in 1996. In 2003, Patagonia merged with Banco Sudameris Argentina and the following year bought former Lloyds TSB Bank Plc assets in Argentina. Patagonia sold shares in initial public offerings in Argentina and Brazil in 2007.
The Brazilian Central bank approved the acquisition of a controlling stake in Argentina’s Banco Patagonia by Brazil’s largest bank, the state-owned Banco do Brasil. In April, Banco do Brasil announced the acquisition of a 51% stake in Banco Patagonia for $479.6 million.
|Total assets||US$4.4 billion (2011)|
|Revenue||US$483.3 million (2011)|
|Net income||US$140.7 million (2011)|
|Company Size||2,700 employees|
TTE General J D Peron 500
Buenos Aires 1038
Phone: +54 11 4329 5200
Fax: +54 11 4331 2793