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The Banco Industrial de la Província de La Rioja was one of several provincial banks established in Argentina during the 1880s under a loose federal banking framework that allowed individual provinces to charter their own institutions and issue paper currency. La Rioja was among the poorer interior provinces, with limited commercial activity, and its industrial bank was more a fiscal instrument of the provincial government than a genuine commercial lender.

Guillermo Kraft was a well-established Buenos Aires printer responsible for a range of provincial and commercial printing work during this period. The bank itself was short-lived — provincial banking in Argentina collapsed systemically after the Baring Crisis of 1890, and most of these interior issues were redeemed, repudiated, or simply abandoned.