Banco Ciudad to allocate 25% of profits to mortgage loans

The Buenos Aires Legislature has passed Law 1.779, amending the Organic Charter of Banco Ciudad to mandate that at least 25% of the bank's net profit remainders be allocated to mortgage loans. The remaining funds, after meeting regulatory requirements and preserving capital, will be directed toward infrastructure projects managed by the City Government.

This reform aims to expand access to housing, particularly for the middle class. In conjunction with the law, the bank has relaunched its mortgage products, extending financing terms up to 25 years. For first-time homebuyers in Buenos Aires, loan amounts can reach $150 million pesos, while second or single homes can reach $200 million pesos. The bank also reported an 8% reduction in initial installments under the new conditions.