Banco Galicia Eyes Card IPO

Argentina’s Banco Galicia is planning an IPO for its Tarjetas Regionales credit card subsidiary, it says. The bank has internally approved a sale of up to $200m in the foreign and domestic markets. The timing is unclear, as there are still several regulatory measures to go through. Bank of America Merrill Lynch, JPMorgan and Morgan Stanley have been advising on the process, a bank official says. Tarjetas Regionales is a holdco for brands including Tarjeta Naranja, Tarjeta Nevada and Tarjeta Mira, as well as a processor and collection company serving them.