Spanish to English translations [PRO]
Bus/Financial - Finance (general) | | Spanish term or phrase: término de cobros por amortización de los amparos | Dear colleagues, this is an excerpt from a text about a Argentine bank's activity this year . I need an explanation why exactly the bank's profits grew. What kind of payments ceased? Apparently it has something to do with the corralito in 2001 and the demands of deposit-holders to return the money. Many thanks.
Here it is.
Las utilidades del banco el tercer trimestre se elevaron un 60,7% a 118mn de pesos respecto del tercer trimestre del 2007, principalmente debido al término de cobros por amortización de los denominados amparos en el primer trimestre de este año. |
| DimoKudoZ activityQuestions: 242 (none open) ( 1 closed without grading) Answers: 17
| |
| | conclusion of the amortization of court-ordered payments to depositors | Explanation:
Briefly, after the economic collapse, depositors sued banks for the return of hard currency deposits in the same currency and won their case. This implied a heavy loss for banks, but they were allowed to write it off gradually. In the case of this bank, they have now written it all off, so their results look better.
"cargos" would have been a better word than "cobros"
From BCRA report: "La amortización de amparos se mantuvo en valores reducidos, evidenciando en el transcurso del año una reducción de 0,4 p.p. del activo hasta 0,3%a. De esta manera, las erogaciones por amparos están próximas a desaparecer del cuadro de resultados del sistema financiero...." |
| Selected response from:
 patinba
Argentina
Local time: 02:14
| Grading comment thank you
4 KudoZ points were awarded for this answer |
| |
| Discussion entries: 0 |
|---|
Automatic update in 00:
|
25 mins confidence:  peer agreement (net): +2 conclusion of the amortization of court-ordered payments to depositors
Explanation:
Briefly, after the economic collapse, depositors sued banks for the return of hard currency deposits in the same currency and won their case. This implied a heavy loss for banks, but they were allowed to write it off gradually. In the case of this bank, they have now written it all off, so their results look better.
"cargos" would have been a better word than "cobros"
From BCRA report: "La amortización de amparos se mantuvo en valores reducidos, evidenciando en el transcurso del año una reducción de 0,4 p.p. del activo hasta 0,3%a. De esta manera, las erogaciones por amparos están próximas a desaparecer del cuadro de resultados del sistema financiero...."
| patinba
Argentina
Local time: 02:14
Specializes in field
Native speaker of:  English
PRO pts in category: 564
|
| | |
Return to KudoZ list
| Changes made by editors |
|---|
| Nov 14, 2008 - Changes made by patinba: | | Created KOG entry | KudoZ term => KOG term |
|
|
| | | | X Sign in to your ProZ.com account... | | | | |
| KudoZ™ translation helpThe KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases. See also: Search millions of term translations  |
The translation workplace 
