As LatAm issuers plan their funding strategies this year, they may look back fondly on a time when sovereigns could get new issue spreads of 170 basis points on 30-year paper.
Author Archives: LatinFinance Awards
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Best Bank − Chile: Banco Santander
Outstripping the Population
Chile’s Santander, the country’s biggest deposit-taking bank, has seen its client base jump to three million people, an increase of 40% during the past three years. It has a network of 2,016 ATMs and 468 branches, the biggest reach in the country, according to the bank. Its total deposits amounted to $22.3 billion at the end of June.
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Best Bank − Uruguay: Banco de la Republica
FDI Booster
Uruguay’s Banco de la República, the country’s largest bank in terms of deposits, has started to notch up an excellent performance on the back of firm economic growth. The Uruguayan economy has been roaring ahead at more than 7% a year following the 2002 economic crisis, according to the IMF. At first, expansion in banking did not follow the economic rise, but during the past two years it has started to match it.
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Best Bank – Costa Rica: Banco Nacional de Costa Rica
Bigger Fish, Shrinking Pond
Worsening global conditions in the past year have done little to shake up the Costa Rican banking landscape. Lenders are taking a conservative stance until the full impact is known, particularly regarding the vital tourism sector.
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Best Bank − Venezuela: Banco Mercantil
Minding the Business
Venezuela’s government may meddle in the banking sector, but Mercantil Banco Universal –one of the country’s biggest financial institutions – continues to grow. However, a global economic slowdown threatens continued expansion.
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Best Bank − Dominican Republic: Banco Popular
Welcome to the Top
Banco Popular Dominicano is beating its peers in the Dominican Republic in terms of market share by assets, surpassing even the government-backed Banco de Reservas, the previous leader. And although the economy of the Dominican Republic is seeing signs of deceleration, Popular’s non performing loans (NPLs) are at a minimum when compared to those seen in other banks operating in the country. Popular is also seeing a rise in deposits, ROA and ROE.
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Best Multilateral: Inter-American Development Bank
Forward Lateral
Long before it was making $6 billion available to boost regional liquidity, providing $400 million to the Panama Canal, or preparing $150 million to prop up Mexican RMBS, the IDB had gone from lender of last resort to innovator of first choice. The institution’s funding was as crucial to keeping tiny businesses afloat as it was to pushing through gigantic projects. The leadership, ingenuity and raw sums of money it put in outshine other multilaterals in a banner year for the sector.
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Banks of the Year 2008: Bradesco tops roll of honor
The Bank of the Year − Banco BradescoBest Bank − Argentina Banco Santander Best Bank − Brazil Banco BradescoBest Bank − Bolivia Banco Mercantil Santa CruzBest Bank − Chile Banco Santander […]
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Best Bank − Ecuador: Banco Pichincha
Bucking the Trend
Ecuador’s Banco del Pichincha is clinging on to a AA+ rating from Fitch subsidiary Bank Watch Ratings, despite global financial crisis and a government that many foreign investors would not have on their shopping lists. In fact, Bank Watch lists political risk as one of the main threats to Pichincha.
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Local Investment Bank − Brazil: Itaú BBA
Bank to Beat?
After establishing itself as a leading homegrown regional investment bank franchise, over the past couple of years Itaú BBA has begun to occupy a niche as a hub for anything Brazil-related. A marginal player just five years ago, it has become the investment bank to beat in LatAm’s biggest economy.