Fitch: Argentina financial system rebounds

Although Argentina's operating environment continues to be volatile, Fitch Ratings said the effects of the international crisis and the difficulties in the national economy did not have significant negative effects on the Argentine financial system.

On the contrary, the second half of 2009 saw a recovery that became even more pronounced in the first half of 2010, Fitch said.

Although 2009 was expected to be a difficult year for the financial system due to possible repercussions from the international crisis, it saw moderate growth and a strong recovery in earnings, with improvements in asset quality and liquidity, the agency said.

These trends continued to consolidate over the first five months of this year, Fitch said, and no significant changes are expected during the rest of the year.

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