LatinFinance Awards, Author at LatinFinance

Best Bank − Ecuador: Banco Pichincha

by LatinFinance Awards November 1, 2008August 29, 2023

Bucking the Trend
Ecuador’s Banco del Pichincha is clinging on to a AA+ rating from Fitch subsidiary Bank Watch Ratings, despite global financial crisis and a government that many foreign investors would not have on their shopping lists. In fact, Bank Watch lists political risk as one of the main threats to Pichincha.

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Local Investment Bank − Brazil: Itaú BBA

by LatinFinance Awards November 1, 2008August 29, 2023

Bank to Beat?
After establishing itself as a leading homegrown regional investment bank franchise, over the past couple of years Itaú BBA has begun to occupy a niche as a hub for anything Brazil-related. A marginal player just five years ago, it has become the investment bank to beat in LatAm’s biggest economy.

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Best Bank − El Salvador: Banco Agrícola

by LatinFinance Awards November 1, 2008August 29, 2023

Bridge to Salvador
Banco Agrícola is the centerpiece of Bancolombia’s strategy to establish a meaningful presence in Central America. The May 2007 purchase earned the Colombian powerhouse a solid footprint in a highly sought after region, and just in time.

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Local Investment Bank − Mexico: Citi-Banamex

by LatinFinance Awards November 1, 2008August 29, 2023

Diverse for all Seasons
Most of the large institutions operating in Mexico fail to convince across all investment bank lines. BBVA Bancomer is the debt leader by volume this year, but it lacks the same commitment to M&A, as does Santander.

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Best Bank − Guatemala: Banco Industrial

by LatinFinance Awards November 1, 2008August 29, 2023

Big Fish
Banco Industrial’s acquisitions of Banco del Occidente in 2006, Banco del Comercio in 2007 and Banco Quetzal this year, make it king of a fragmented but quickly consolidating market. It now commands a 28% share in Guatemala, according to the bank, with assets of $5.4 billion as of June. Industrial is also the largest bank at a time when there is an investor flight to quality, says Marvin Guevara, analyst at Fitch. This has resulted in a large increase in deposits over the past two years compared to other banks, despite system-wide troubles.

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Local Investment Bank − Colombia: Bancolombia

by LatinFinance Awards November 1, 2008August 29, 2023

Bancolombia sees an opportunity to use local knowledge to build investment banking at a time when foreign competitors are challenged. It will also be tested.

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Best Bank − Jamaica: Scotiabank

by LatinFinance Awards November 1, 2008August 29, 2023

Finding Growth
Competition is tight at all ends of Jamaica’s banking market. The system’s two largest, Scotiabank and National Commercial Bank (NCB) were nearly level in assets as of mid-year, with 287 billion and 280 billion Jamaican dollars, respectively. Profitability was also close, with Scotia claiming an ROE of 25.61% and NCB 29.54%, as of the end of July and June, respectively

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Local Investment Bank − Chile: Larrain Vial

by LatinFinance Awards November 1, 2008August 29, 2023

Golden Opportunity
Larrain Vial, one of Chile’s most active investment banks, believes it will fare well after the recent turmoil on Wall Street, which should diminish competition. And it does not think the reputation of investment banking generally has been tarnished.

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Best Bank − Mexico: BBVA Bancomer

by LatinFinance Awards November 1, 2008August 29, 2023

Storm Protected
No one can yet be sure how much Mexico’s economy will suffer next year from the global credit mess and US slowdown. Over the past several years, its banks have lent ever more aggressively as they try to poach customers from each other and recruit from the lower-earning unbanked masses. A slowdown in lending is inevitable in 2009, with Fitch for one seeing growth of 5%-12%, after several years of rates above 20%.

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