Banking: The week in 10 stories


Brazil's GDP expanded 1% in 2017 to 6.6tn reais (US$2.03tn) after contracting 3.5% in 2016 and the same amount in 2015, according to statistics office IBGE.

The volume of loans in the financial system contracted in January despite the country's economic improvement, as companies showed no demand for new loans.

The supreme court approved an agreement signed between banks and their clients, ending a lengthy legal dispute regarding monetary correction of savings accounts, applied during the government's economic stabilization plans in the 1980s and 1990s.


To great applause from the public and private sectors, legislation establishing a much-needed regulatory framework for Mexico's burgeoning fintech industry was passed by 264-61 votes Thursday in the lower house of congress, establishing much-needed rules governing tech firms working with disruptive technologies, including cryptocurrencies, crowdfunding and peer-to-peer financial tools..


Argentina's central bank held the country's key interest rate steady at 27.25% amid signs of rising inflation and following a weakening of the peso.


The CEO of Chilean lender Itaú CorpBanca said its Colombian unit may climb out of the red in 2018 after having posted losses in the country over the past few years.


Chile's banking sector continued to fatten its bottom line in January.

Changes to Chile's pension system proposed by the outgoing government of President Michelle Bachelet would "go in the right direction," the OECD said.


Closing a two-day conference of Caribbean governors and representatives from the Inter-American Development Bank (IDB), regional leaders called for a coordinated approach towards the digital transformation of local economies.


Presidential elections in Venezuela have been postponed by a month to May after a group of opposition parties struck a deal with the government, according to the national election council (CNE).


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  • Stone Pagamentos raises US$1.15bn from IPO

    Brazilian credit card processor Stone Pagamentos raised US$1.15bn from its IPO on the Nasdaq as strong global investor interest allowed the firm to price its shares above initial estimates. The amount could be increased to US$1.36bn...

  • Bradesco buys loan recovery company

    Brazilian lender Banco Bradesco acquired a controlling stake in RCB Investimentos, a company specialized in the recovery of bad loans. The bank said in a statement it acquired a 65% stake in RCB for an undisclosed amount. ...

  • Brazil's Agibank cancels IPO plans

    Brazilian lender Agibank definitively canceled its plans to hold an IPO on the São Paulo stock exchange amid persistent capital market volatility. In June, the bank announced the temporary suspension of its IPO plans due to market...