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Presidential decree on Argentine bank suspended

Buenos Aires, Feb 25 (Prensa Latina) Congressman Sergio Palazzo celebrated today the decision of Federal Judge Alejo Ramos to suspend a decree of the Argentine President, Javier Milei, by means of which he ordered turning Banco de la Nacion (BNA) into a joint stock company.

Through his profile in X social media, the legislator of Union por la Patria and general secretary of the Banking Association highlighted the measure issued by Ramos that stops the application of the 116/2025 appeal and orders the National State and the BNA to refrain from any action tending to its implementation.

The decree, published on the 19th of this month, is considered a preliminary step for the privatization of the bank, a process announced by the President at the beginning of his administration, but suspended during negotiations for the approval of the Bases Law.

Entirely state-owned, the BNA was founded in 1891, in a few years it became the largest local institution of its kind and currently has more than 700 branches.

It has the best profitability figures in the financial system, concentrates the largest number of customers, deposits, loans and assistance to both companies and individuals, and is the largest in the country, the Bank underlines in a statement.

It is contradictory to want to sell what works, unless the only objective is a spurious negotiation and a new swindle, it adds.

The president insists on transforming it into a corporation and then privatize it, when on the other hand, Judge Ramos ruled that they cannot move forward in this process if it is not through a law.

mh/abo/mem/gas

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