Banco Hipotecario S.A. (BCBA: BHIP)[3] is a commercial bank and mortgage lender in Argentina,[4] whose operation is based on loans with real guarantee. It was founded in 1886 to solve the housing problem. The bank was privatized in 1997. Faced with the prospect of bankruptcy, in 2005 the State became its majority shareholder. It is a public limited company, with majority state participation but private administration that is dedicated to loans and other financial activities.
History
The institution was chartered on September 24, 1886, as the Banco Hipotecario Nacional (National Mortgage Bank) by a bill (Law 1804) signed by President Julio Roca.[5] The bank pioneered mortgage lending on extended, low-interest terms in Argentina, and thus contributed to consolidating a modern Argentine economy (a policy centerpiece of the Generation of '80, as Roca and his allies were known).[6]