Citigroup and six other international banks are thought to have lost around $8.5bn in the country.
Sandy Weill confirmed last week that Citigroup cumulative losses in Argentina were $2.2bn. Bloomberg reports that Spanish banks Santander and Banco Bilbao Vizcaya have lost $3.2bn, FleetBoston $1.3bn, HSBS $1.1bn and JP Morgan Chase $411,000.
The bank's are believed to have had over $23bn of Argentinian loans on their books at the year end.
Citigroup Losses Mount
Bloomberg reports that Citigroup leads the way in losses due to exposure to Argentina.
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