The Government announced the transformation of Banco Nación into a Corporation, which will generate changes in its internal functioning, although it is not expected to affect clients immediately. The possibility of making a public offering of part of its capital paves the way for a potential privatization, following the example of the Mortgage Bank. It is a step that will define the future of the entity.
In the words of Luciano Saenz Valiente: "Another consequence of the transformation is that its staff will no longer be composed of public employees, which will imply new developments in the control by external bodies. This will change the hiring conditions and could increase labor conflicts." The initiative has raised concern in union sectors, such as ATE and La Bancaria, which have expressed their opposition to the privatization.
Experts in the financial sector see this transformation as a first step towards the privatization of Banco Nación. Questions are raised about the impact on users and what the government's intention is. According to a source consulted by El Cronista, the change allows for the incorporation of private capital, which could lead to processes of efficiency improvements in the functioning of the bank.
The corporate structure implies a series of modifications in the application of economic and corporate law to the entity. Among the aspects to consider are access to markets with fewer restrictions, payment of income taxes on dividends to shareholders, and competition with other private banks. However, it is highlighted that rights and obligations remain within the corporation.
Accountant Santiago Saenz Valiente clarifies that, despite the change in legal format, Banco Nación retains its identity. Now, after the publication in the Official Bulletin and the corresponding decree, an analysis of the implications of this measure is opened.
