Banco Nación expands credit in Argentina as Colombia secures KfW loans

Banco Nación (BNA) has significantly expanded its private sector lending, increasing loans by $6.3 trillion. This growth represents 36.8% of the total increase in the financial system, reinforcing its role as a primary credit provider for the real economy. BNA's portfolio grew by 39.2%, compared to 15% for the rest of the financial system. Notable growth was seen in consumer financing, which rose 55.1%, and corporate lending, which increased by 30.5%. Additionally, dollar-denominated loans to the private sector grew by 40.2% during the first nine months of 2026.

In Colombia, the Ministry of Finance received authorization from the Interparliamentary Commission of Public Credit to secure three external loans from the German Development Bank (KfW). The total amount is up to 497 million euros and is intended to help finance the 2026 national budget amid fiscal deficits. The Ministry stated that the interest rates offered by KfW are approximately 200 basis points below Colombia's sovereign bond curve in euros, providing more favorable financing terms than capital markets. This funding is viewed as German support for Colombia's structural reforms in areas such as inclusion and climate change.