Though the lifeblood of the country’s economy and representing fully 99% of its businesses, Argentina’s small and medium-sized enterprises (SMEs) operate in an often hostile climate delineated by cumbersome bureaucratic impositions and a dearth of credit. Argentina’s big commercial banks show but scant interest in serving the half million or so business owners.
The art and science of helping SMEs survive, grow, and prosper is, however, not entirely lost. BIND Banco Industrial has built a highly successful business by focussing on the needs of smaller enterprises, seeking to empower rather than exploit SMEs and growing its own revenue alongside that of its customers. The bank is convinced that size is not everything and, by extension, entrepreneurial gems are to be found in Argentina’s vast SME universe. Moreover, small and medium-sized businesses have proven particularly resilient in the face of extreme market volatility, easily adapting to shifting realities.
With over $1.5bn in assets and recognised for its early adoption of digital banking and fintech, BIND Banco Industrial has turned into Argentina’s premier SME financial services provider. The bank can trace its corporate roots to 1928 when it was set up to help underwrite Argentina’s nascent agribusiness sector. From its beginnings BIND Banco Industrial has maintained the highest standards of service.
The CFI.co judging panel notes that BIND Banco Industrial has implemented a number of innovative policies and services that aim to lower the threshold for businessowners in search of a dependable financial partner. The judges are pleased to offer BIND Banco Industrial the 2018 Best SME Bank Argentina Award.