Ecuador , Brazil , Peru and Argentina
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Banking: The week in 10 stories

Bnamericas Published: Saturday, February 16, 2019

Canadian lender Scotiabank said it will not sell its operations in Costa Rica and Panama as part of a restructuring process in Central America and the Caribbean.

ARGENTINA

Inflation accelerated in January - after several months of weakening in the pace of increases - as regulated product and service price hikes were implemented.

Although Argentina is facing major economic challenges and has presidential elections in October, investors are eyeing potential opportunities in the country's financial services and energy sectors, BNamericas was told.

Argentina's Banco Provincia sold debt worth US$125mn in the local market, representing the biggest corporate placement since last May.

BRAZIL

The performance of the Brazilian economy disappointed last year, but it is widely expected to pick up speed in 2019.

The government unveiled the first details of a pension reform proposal that it will soon send to congress.

Federally-controlled Banco do Brasil said it expects to post higher profits this year.

The head of Banco do Brasil also said that the bank is likely to sell its controlling stake in Argentine lender Banco Patagonia, when market conditions are more favorable.

ECUADOR

The IMF and the Ecuadoran government said they have moved closer to the signing of an agreement of financial support for the cash-strapped country.

PERU

The banking unit of local financial services group Intercorp reported record profits last year.

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