Roundup: GBM expands abroad, IDB event, HSBC unit affirmed, CorpBanca ADRs

- Friday, February 25, 2011

Roundup: GBM expands abroad, IDB event, HSBC unit affirmed, CorpBanca ADRs

Grupo Bursátil Mexicano (GBM) launched operations in Chile, becoming the first Mexican brokerage firm to join the other country's electronic stock exchange (BEC), a press release from Mexican-Chilean commerce chamber CICMEX reads.

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Regional development bank IDB will hold the VIII Inter-American Conference on Corporate Social Responsibility in Paraguay, and among the topics of discussion is sustainable banking, a press release from IDB reads.

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The event, organized by IDB's Multilateral Investment Fund (MIF), is scheduled to take place May 24-26 in capital Asunción.

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Ratings agency S&P has affirmed its long-term counterparty credit ratings at BBB for HSBC Panama, with a stable outlook, the agency said in a press release.

The affirmation is based on the unit's strong positioning in Panama and neighboring countries, as well as adequate operational performance on a consolidated basis. The agency also took into account support that the bank enjoys from UK parent company HSBC (NYSE: HBC).

To read the full report in Spanish, go to this link

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Chilean bank CorpBanca (NYSE: BCA) has reduced the number of shares per ADR, from the current 5,000 to 1,500, the bank said in a filing with local securities and insurance regulator SVS.