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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  • ICT: The week in 10 stories

    MEXICO –The first commercial offerings of telecoms services using the Red Compartida wholesale network in Mexico should be hitting the market as early as next month. –The trade agreement between the US and...

  • Brazil's Itaú, Rede partner with PayPal

    Brazilian bank Itaú Unibanco and its card acquiring and processing firm Rede signed a partnership with PayPal to expand in the e-commerce market. The companies said in a joint press release that they will facilitate the linking of...

  • Itaú's startup hub opens new HQ

    Brazilian bank Itaú's Cubo cut the ribbon on a new building in São Paulo that is four times larger than the previous one and with capacity to house 250 startups and receive 2,000 people daily. Launched in September 2015 by Itaú...

  • Brief: Banco do Brasil offers Apple Pay

    Brazil's state-run bank Banco do Brasil started offering mobile payment service Apple Pay for its clients. The bank is following the its local rival Itaú Unibanco, which in April became the first Brazilian bank to offer this...

  • Brief: CEO of Brazil's Cielo to step down

    The CEO of Brazilian card processor Cielo, Eduardo Campozana Gouveia, decided to leave his post due to personal reasons. He will be replaced next month, on an interim basis, by CFO Clovis Poggetti Junior. Poggetti Junior will...