Argentina’s banking system closed 2025 with a moderate expansion in balance sheet size, a strong acceleration in private sector lending, and a notable contraction in capital levels, reflecting a complex interplay between macroeconomic normalization, inflation dynamics, and balance sheet restructuring.
Based on RankingsLatAm’s continuous monitoring of financial statements across all banking institutions since 2019, total assets reached USD 208.9 billion as of December 2025, representing a 2.8% year-on-year increase in dollar terms. This relatively modest growth, when contrasted with the pace of credit expansion, suggests a gradual reallocation of assets toward higher-yielding lending activities.
Banks in Argentina - December 2025 Ranking by Assets
Source: BANKS AND FINANCIAL COMPANIES IN ARGENTINA: INCOME STATEMENTS AND BALANCE SHEETS DATASET
The structure of the system remains highly concentrated, with Banco de la Nación Argentina maintaining a dominant position, accounting for 22.84% of total assets. It is followed by Banco de Galicia y Buenos Aires S.A.U., Banco Santander Argentina S.A., Banco BBVA Argentina S.A., and Banco Macro S.A., while the remaining institutions collectively represent just over 40% of the market. This concentration pattern continues to define competitive dynamics, particularly in an environment where scale and access to low-cost funding remain critical differentiators.
The most significant development during the period was the sharp expansion in credit to the private sector. Total loans, excluding public sector financing, increased by 25.7% year-on-year to USD 90.5 billion, marking a clear shift toward financial intermediation after several years of subdued lending activity. Banco de la Nación Argentina again leads this segment with a 19.04% market share, followed by Banco de Galicia, BBVA Argentina, Santander Argentina, and Banco Macro, all of which have strengthened their positioning in retail and corporate lending.
Disaggregated data reveals a heterogeneous performance across credit lines. Mortgage lending stands out with a 145.9% annual increase in dollar terms, albeit from a relatively low base, signaling a tentative reactivation of long-term financing. Personal loans and corporate advances also posted robust growth rates of 35.0% and 38.6%, respectively, reflecting improved demand conditions and a gradual normalization of real interest rates. Meanwhile, document-based lending and secured auto loans expanded at a more moderate pace, indicating a selective recovery across segments. The broad-based increase in “other loans to the private sector,” which grew by 29.4%, further underscores the diversification of credit portfolios.
On the funding side, total deposits rose by 2.9% to USD 136.5 billion, broadly in line with asset growth but significantly lagging behind loan expansion. This dynamic points to a gradual increase in the system’s loan-to-deposit ratio, a trend that warrants close monitoring in terms of liquidity management. As in assets, Banco de la Nación Argentina leads the deposit market with a 22.84% share, followed by Banco de Galicia, Santander Argentina, BBVA Argentina, and Banco de la Provincia de Buenos Aires.
Deposit composition reveals a shift toward time deposits, which increased by 19.8% in dollar terms, suggesting a preference for yield in a still uncertain macroeconomic environment. In contrast, transactional balances such as current accounts declined by 8.2%, while savings accounts remained broadly stable. Public sector deposits contracted by 7.4%, potentially reflecting fiscal dynamics and changes in treasury management practices.
Despite the improvement in lending activity, the system’s capital position weakened during the year. Total equity declined by 7.9% to USD 45.7 billion, a contraction that may be associated with valuation effects, dividend distributions, or the lag between asset growth and capital accumulation. This trend introduces an additional layer of complexity, as sustained credit expansion will require capital reinforcement to maintain solvency ratios and support future growth.
Profitability remained positive but relatively contained in absolute terms, with the system posting a total net income of USD 2.0 billion in 2025. Banco de la Nación Argentina led earnings generation by a wide margin, reporting USD 821 million, followed by Banco Santander Argentina and Banco Macro. Citibank N.A. and BBVA Argentina also ranked among the top contributors, highlighting a diversified profitability landscape where both domestic and international players maintain a relevant presence.
Overall, 2025 marks a transitional year for Argentina’s banking sector. The strong rebound in private sector lending suggests a renewed role for banks as financial intermediaries, supported by improving macroeconomic conditions. However, the modest growth in deposits and the decline in capital levels indicate that this expansion is not without constraints. Going forward, the sustainability of credit growth will depend on the system’s ability to strengthen its funding base, rebuild capital buffers, and navigate an evolving economic environment that continues to present both opportunities and structural challenges.