The Argentinian central bank has now given the subsidiary of Canada's Bank of Nova Scotia 30 days to obtain additional capital.
Scotiabank set aside $449m in the last two quarters to cover potential losses on loans and investments in Argentina.
Analysts wonder whether Scotia will now call it a day in a country going through financial and economic turmoil. It may not be in the interests of shareholders to bring in more capital.
Scotia Subsidiary Runs Out Of Cash
Bloomberg reports that Argentina has suspended operations in Scotiabank Quilimes SA after a run on deposits saw the bank run short of cash.
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