The banking industry achieved record-high earnings in FY18, but with mixed results in its composition The Argentina banking industry closed the 2018 fiscal year with a net gain of ARS 185.8 billion, 139% more than the profit obtained in 2017 (ARS 77.7 billion). Such a result stemmed primarily from a 70% increment in the financial margin. However, this hides a heterogeneous behaviour among the different concepts that compose the financial margin, in a context of a strong increase of interest rates fostered by the Central Bank to curb inflation.
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