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Itaú Argentina approves bad loan portfolio sale totaling 104.2M pesos

Banco Itaú Argentina SA said it has approved the sale of a nonperforming retail and wholesale loan portfolio totaling about 104.2 million Argentine pesos.

Several specialized firms participated in a private bidding process to buy the portfolio, the bank said in a Dec. 6 statement.

As of Dec. 6, US$1 was equivalent to 17.27 Argentine pesos.