Tuesday, January 18

Alejandro Butti, CEO of Santander: “The financial system is part of the solution, and not part of the problem”

Given the virtual participation of more than 250 journalists, Butti explained that “The Argentine financial system today is solid, with good levels of capitalization, together with a relatively low level of delinquency and liquidity in dollars that is at historical highs, above 80%.”

However, he warned that credit continues at low levels in relation to GDP, due to the lack of development of a long-term currency, and the high tax and regulatory pressure on the sector. “More deposits are more credit for SMEs, companies and families. And that is more investment, the only variable capable of generating long-term sustainable growth and development, which Argentina requires to stimulate employment and reduce poverty “Butti recalled.

The CEO of the largest private bank in Argentina -by volume of deposits- emphasized that the pandemic generated very relevant behavioral and cultural changes among customers. “Our commitment is with customers and that is why we have to be where, when and how they demand it”, said. In this regard, he provided the following data: today 90% of Santander’s transactions are digital or automatic. 83% of its sales are also digital, the use of the web increased 40%, and the entity has already opened half a million accounts directly from the cell phone.

“In 2022 we will continue to build the best open platform for financial services in Argentina. We will continue to shape our ecosystem. We have already launched Getnet, Superdigital and Santander Consumer. Next year, Openbank, Santander’s 100% digital bank, will be fully launched on the market. In the last year and a half, we registered 5 new companies in Argentina, more than in the last 15 years ”, highlighted Butti.

Santander plans to invest 225 million dollars in technological developments over the next 3 years. “If the economic conditions accompany in 2022, Santander is ready to be a lever that boosts credit and the economic recovery of Argentina,” he synthesized.