Grupo Santander announced yesterday the launch of Santander Consumer for consumer financing. It comes with an initial investment plan of more than 1,500 million pesos ($15.98 mn) and the generation of more than 130 jobs for the next few years. The portfolio of products to be offered includes loans to companies, pledge loans, stock financing loans to dealers, and personal consumer loans.
Arcor multiplied by five its profits in the first quarter of 2021 concerning 2020. It went from 679 million pesos ($7.23 mn) in 2020 to the recent 3,857 million pesos ($41.07 mn). The firm explained that it was due to sales abroad and the reduction of its debt.
This week the international price per ton of soybean reached $610. The agro-export complex has already liquidated $10 billion and expects to leave in the State's coffers at least $2.6 billion in addition to the planned withholdings. However, this does not translate into an improvement in Argentina's financial situation. The rise in soybean prices coincides with a new escalation of the country risk, the JP Morgan indicator that measures the excess rate that Argentina should pay for indebtedness increased 3.7% and reached 1606 essential points.
A startup formed just three months ago by former executives of Naranja X, Mercado Pago, and Mastercard has raised $9 million from a long list of investors, including the founders of Twitter, PayPal, Rappi, Kavak and Auth0. It's called Pomelo, and it will dedicate to provide payment technology for businesses, cards and fintech from Buenos Aires to the entire region. "This is one of the largest seed capital rounds in the history of Latin America".
Faced with the worsening of the pandemic and the increased restrictions, the Government opened its wallet to address the social situation. Last month, it increased by 180 billion pesos ($1.92 billion) the funds available for the sectors most affected by the new quarantine.