On the Reuters, 10-June-Y2K+9: Bank dividends that have been declared have been postponed until the stress tests on the Argentine banking system are completed.The reasons on the positive side of their banking system were stated as follows: the Argentine economy is highly cash-based, lending practices are conservative and profit is largely fee-based.On the negative side, the banks value sovereign debt at face value, doubts about the accuracy of the government's key economic data and budgetary projections. Another note: The delinquent loan rate in the banking sector is about 3% , much lower than regional and historical levels.Total lending in Argentina is around 11%. All this information was through Reuters.
Ref. MATERIAL INFORMATION – Ordinary and Special Shareholders’ Meeting of March 27, 2009 - Payment of Dividends
It is a pleasure to inform you that the Argentine Central Bank (Banco Central de la República Argentina) has authorized the Board of Directors of BBVA Banco Francés S.A. to proceed with the distribution of Arg. Pesos $ 100 MILLION in dividends to its shareholders.
This amount will be distributed as follows: Arg. Pesos $ 35 million in cash and Arg. Pesos $ 65 million in shares upon completion of all pertinent legal procedures.