Argentina's central bank has approved the purchase of 100% of Banco Interfinanzas SA by Argentine businessman Fabio Calcaterra, El Cronista reported.

Calcaterra, who is a cousin of Argentine President Mauricio Macri, agreed to buy the bank from San Mateo SA, the lender's controlling shareholder, and Diego Miguel María Angelino, the bank's president, in 2015.

Terms of the deal were not disclosed, but were amended in October 2015 to designate three additional buyers: Angel Jorge Antonio Calcaterra, Fernando Javier Mauro and CM Portfolio SA.

The Buenos Aires-based bank has about 160 million Argentine pesos in assets and 76 million pesos in net equity, according to the report. It also has a loan portfolio of 49 million pesos, and has 5.6 million pesos in deposits.

As of Dec. 13, US$1 was equivalent to 15.97 Argentine pesos.