Banking: The week in 10 stories

By
Friday, November 10, 2017

Banks in Brazil will be forced to focus on high-risk areas to maintain profitability levels next year to compensate for the drastic reduction in interest rates.

Brazil's largest bank, state-owned Banco do Brasil, posted a 26.5% increase in third quarter net profits thanks to a reduction in expenses.

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MEXICO

Opening a new corporate office in Mexico's Guadalajara city on Wednesday, Banco Sabadell's director of local operations Francesc Noguera discussed the institution's new banking operations that are set to launch in January, built on an all-digital platform designed to attract young, urban clientele.

Damage associated with Mexico's September earthquakes has been reported for 10,000 mortgaged properties and 213 of these were total losses, the country's banking association ABM said.

ARGENTINA

Argentina's central bank has ordered lender Banco Finansur to halt operations for 30 days.

Brazilian banking giant Itaú Unibanco Holdings will invest US$30mn over the next three years to expand the digital footprint of its operations in Argentina.

PANAMA

Fitch Ratings issued a report on Panama's mid-sized commercial banks, noting increasing default rates and less diverse funding balanced by solid capitalization and modest overall profitability at the mid-tier institutions.

REGIONAL

Datacenters and company servers are bulging with data – and that is providing opportunities for both traditional financial institutions and new entrants to tap underserved markets, among them small businesses.

Barbados' business minister said the nation is not used as an illegal tax shelter, while Mexican billionaire Carlos Slim states his stake in a Bermuda-based company is completely legal.

The Bank of Palestine has opened in Chile a representative office which will act as a 'bridge' between the Middle East and Latin America.