...Branch of BNA: Banco de la Nacion Argentina (Sucursal Uruguay) (BNAUY) is a branch of Banco de la Nacion Argentina S.A. (BNA S.A.), which has a leading franchise and systemic importance in Argentina. It also has international coverage through branches and representative offices in seven countries, primarily to address domestic needs related to intraregional foreign trade and support Argentina's commercial activity in the region. BNAUY is one of the smallest banks in Uruguay due to its narrow business focus. The bank is fully integrated with the head office's structure, strategies, corporate governance, practices and risk management procedures, and it operates through one main office. Owned by Argentine State: BNAUY is the same legal entity as its head office BNA S.A. Therefore, its Issuer Default Ratings (IDRs) reflect Fitch Ratings' view of BNA's Standalone Credit Profile in the absence of country risk constraints. BNA S.A. is 99.9% owned by the Argentine State (Estado Nacional) and its...
