The president of Banco Provincia, Juan Cuattromo, stressed that the credit institution has been carrying out sustained work to reactivate small and medium-sized companies in the Buenos Aires territory, and remarked that in the last two years it delivered 6,800,000,000 pesos in productive loans in White Bay.
“Since we started the management in December 2019, we have set ourselves the strong objective of financing all the productive sectors of the province, in the 135 municipalities, with programs to reactivate SMEs, with the idea of accompanying them in this time of pandemic, in which we sustained and deepened our presence ”, he pointed out.
The manager acknowledged that “it was a challenge to sustain the financing” in recent months and highlighted that in our city, more than half of the amount corresponding to productive loans corresponded to programs with subsidized rates.
To this, he continued, was added the work carried out on financing tools through electronic channels, to facilitate certain online procedures in the midst of a pandemic.
“Now, the challenge is the recovery of the productive sector, and we understand that the bank will play a key role,” he said in Panorama, by “LU2”.
Cuattromo said that the Buenos Aires public bank is working on credit lines for next year, deepening existing lines, with a reduction in rates, among other things.
“The idea is to finance ventures, depending on the activity, with different strategies. For example, if we speak individually, Microcredits Province granted 1,300 productive loans in Bahia, for 150 million pesos; then they begin to build growth strategies that depend on the type of enterprise. For this, the bank has all the tools at its disposal ”, he clarified.
On the other hand, he stated that the role and action of the bank will not be modified by the results that may occur in the legislative elections on November 14.
“We understand that the bank has a historical tradition: it is on its way to its 200th anniversary, it is probably the oldest on the continent and it has a commitment. This is not going to change because of an electoral result, but rather it is a process that is going to be maintained, to improve the quality of life of Buenos Aires residents, ”he explained.
In this sense, Cuattromo acknowledged that –as has happened on other occasions- “the work ahead is to go through electoral processes, which are highly unstable and generate anxiety in the financial markets”.
“The important thing is that the government manages these tensions and does not make mistakes. Later, these uncertainties are overcome and it is possible to work in a consistent system ”, he commented.