The newspaper of La Pampa

The Petitions Commission of the provincial legislature approved the opinion to authorize the specifications of the president of the BLP, Alexis Iviglia and the regular and alternate directors. They revealed that the entity reached the A1+ rating that puts it at the same level as Banco Nación and Macro.

In addition to Iviglia’s statement, those of Alberto Giorgis, Carlos Pessi and Carlos Gaccio were included as regular directors, Rosendo Peralta as regular trustee and Carlos Javier Subelet as alternate trustee. Said specifications were ruled favorably by the majority, establishing a position in the room by the minority.

In his presentation, President Iviglia said: “Due to the pandemic and the changes in the national government, these were two extraordinary years. The Bank’s strategy was divided into two different stages. In the first year we set out to be the tool that tried to contain the problems of businesses, industry and employment. The objective was to sustain economic activity in the province”.

“During the second year -continued Iviglia-, that is to say between mid-2021 and 2022, we focused on the reactivation of consumption, through financial services, loans, promotions, feeding the virtuous circle that we always talk about”.

At the same time, he highlighted the “positive numbers” of the entity. “The two years for the Bank have been positive numbers. With performance, solvency and profitability indicators”, projection.

During the round of questions, Deputy Mauricio Agón asked about the latest tools implemented by the Bank. “We understand that the reactivation must begin through consumption. That is why we have developed a bundling process, with 11,000 customers who have the capacity to consume these packages,” Iviglia replied.

He was also asked if fixed-term deposits lose against inflation. “The effective rate ends up being close to inflation. Within the financial system it continues to be the refuge that clients use the most to take care of their savings,” he said.

For his part, Carlos Pessi added: “UVA fixed terms allow the saver to update the fixed term with inflation, which has generally been higher. In practice, the saver who is looking for more is going to the UVA, where the growth rate is higher than that of the common fixed term. The difference is 1.5 points,” he revealed.

“This is part of the problem savers have,” Pessi anticipated. “For us it is essential that the deposits do not leave the Bank, for that we need to have a rate according to. Every month inflation changes and so does the interest rate. It’s a permanent, really complex wrist job,” she warned.

Later, the authorities of Banco La Pampa were consulted about the situation of agriculture. Alberto Gaccio took the floor and said that “the agricultural sector has had good profitability, although perhaps we would like people to take a little more credit. I think that people are still eager to work with new tools.”

He also said that “one is always thinking of seeking appropriate financing. When rates are set at 80 to 90 percent, people are not encouraged to take them. We are working in this direction so that the Bank, Pampas production and agriculture -which is a sector that invests and dynamizes the province- do well”.

The legislator Martín Ardohain questioned the access to credits that “those producers who are above small entrepreneurs cannot obtain”, to which Iviglia replied: “Around the end of last year, a line was launched with a quota of 3,000 million pesos, with 12 points of subsidies. We placed 600 million through the Fogapam tool. What I want to say is that there were a lot of small industrialists who needed investment support, and in three months the quotas were exhausted ” .

For his part, Pessi added: “Our work is about ensuring that the Bank does not condition its numbers or its strength. We are the only mixed Bank left in Argentina. And this is why BLP evolves as a company. For the first time, the BLP achieved the highest financial rating of A1+, which puts it on a par with Banco Nación, Macro, Galicia.”

Meanwhile, Silvia Larreta asked about the demand for credits and if the objectives have been achieved. “The service we provide in the interior of the province is through our 21 branches and mobile entities. There is no place in La Pampa where the Bank does not serve. There may be a pending matter through the disclosure of information on the credits, but in no way do we believe that there is any limitation of access due to a geographical issue,” said the Chairman of the Board of Directors.

In turn, Pessi said that, regarding credit lines, “we have been working to reduce bureaucratization. It is a job that takes time but we have made progress.”

The deputy Sandra Fonseca (Organized Community) asked about the credit risk assessment when “there is a company that lacks balance.” Rosendo Peralta replied: “We trustees have the duty to participate in the control of corporate life. There would not be a company that does not have a balance sheet. It must have the signature of a professional in economic sciences. A company that does not have a trade balance is not subject to credit”.

“Are they violating the tax code with Sircreb? It seems to us that it is a totally unconstitutional tool,” said Fonseca and Pessi stated: “The Sircreb is a subject of debate. We receive an order in the same way that we receive the tax on the check, for example. It is an automatic mechanism that we have to comply with. We have no room for maneuver as a Bank. In that sense we only comply with the regulations. Logically, we receive taxpayer complaints, it is a hot topicme”.

Later, the same deputy asked if it is possible “to grant credits to a commercial company that is formed in a different way from what its statute establishes, such as Pampetrol.”

“What the Bank does is create a credit file. From this perspective, the analysis is formal, all this documentation is endorsed by the application authority. If that aspect of the procedure is fulfilled, legalized and presented, the Bank’s legal analysis ends there “What happens in the particular case of Pampetrol is that they have given a debate in the Legislature and then this goes through the enforcement authority and we receive the completed documentation. There the political debate on the legal issue is divided. From the perspective of the Bank that is fulfilled if it has the seal of the Public Registry of Commerce”, analyzed Pessi.

In addition, Iviglia revealed that the Bank reached “the highest rating in terms of risk” and said that we “become the true financing tool of the province.”

“We have started an expansion process. We are also going through digital banking, which will be a milestone for the entity,” he concluded.

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