Although many of the banks are refusing to reveal their plans, it is thought that Bank of Nova Scotia, Societe Generale and HSBC are likely to make a move before too long.
Commentators feel that Citibank and BankBoston, both of whom have been represented in Argentina for nearly 100 years, will stay and await developments.
Banks Set To Leave Country
Three months after the financial crisis in Argentina came to a head, the peso has been devalued by around 70%. Banks in the country are thought to have lost $20bn as a result. As the situation shows no signs of improvement, several leading foreign banks are now thought to be considering closing up shop and leaving the country.
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