Banking: The week in 10 stories

By
Friday, October 12, 2018

Regional

Foreign direct investment flows to Latin America and the Caribbean contracted for the third year in a row in 2017, according to Eclac.

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The IMF, in its latest World Economic Outlook, expects regional growth to reach 1.2% this year, down from 1.3% in 2017. Growth is expected to pick up in 2019 to 2.2%.

Brazil

Ultra rightwing lawmaker Jair Bolsonaro said he will not support a push for congressional approval of the unpopular pension reform this year if elected Brazil's next president on October 28.

Local high-end lender Banco Safra is planning to hire 1,000 employees to provide more personalized service for its investment banking clients.

State-run lender Banco do Brasil will allow clients to use WhatsApp for certain financial transactions as part of its growing focus on digital banking.

Chile

The local unit of Spanish giant Santander said it will not renew, next year, its contract with card payment processor and acquirer Transbank.

Mexico

The commercial banking sector reported a loan book of 5.02tn pesos (US$264bn) at the end of August, an inflation-adjusted increase of 5.4% compared to August 2017.

The number of M&A deals rose 10% year-on-year to 245 in the first nine months of this year, while deal value for 100 of these transactions was US$8.92bn, marking a decline of 54.2%.

CPI increased 0.42% month-on-month in September, coming in just above expectations as surging fuel prices once again formed the central inflationary pressure.

Peru

President Martin Vizcarra, who has made the fight against corruption the linchpin of his mandate, announced a referendum to gauge popular opinion on a series of anti-graft measures.