Uruguay’s banks have weathered the international financial storm well and the country’s economy is expected to grow by up to 2% this year.
Category: Awards
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Best Local Investment Bank
In a year where most markets were still thawing out following the crisis, little was done to shake up the local investment banking landscape. It is still dominated by several large internationally-backed players, each tending to specialize in most but not all of the business areas. Citi’s Banamex defends its crown as the investment bank best equipped to offer Mexican clients a full range of services.
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Best Multilateral: Cranking out Champions
The BNDES has in the past two years ascended to a new role in the Brazilian economy.
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Best Bank Chile: Honing Profitability
Santander Chile, the country’s largest and most profitable bank, has perfected the art of retail, which it claims is more challenging to run, but also more lucrative.
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Best Bank Argentina: Banking the Provinces
Banco Macro has risen to the top of Argentina’s private sector through a series of fortuitous and well timed acquisitions, in particular of struggling state banks in the wake of the 2001 financial crisis.
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Best Bank Peru: Quality Counts
The banking race in Peru is a close one, and the global credit crisis appears to have done little to separate the two largest players, BBVA Continental and Banco de Credito del Peru. Backed by its parent¹s powerful network and back-office support, Continental¹s focus on profitability above size has served it well.
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Best Bank Venezuela: Outmaneuvering the Locals
High inflation, a weakening currency and overt political intervention are just some of the reasons running a bank in Venezuela is more challenging than in other parts of LatAm.
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Best Bank Panama: Proceed with Caution
Panama’s Banco General has seen its assets and deposits grow and non-performing loans drop slightly in the 12 months to June 2009, despite the global downturn.
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Best Bank El Salvador: In Hands Less Foreign
While Banco Agrícola now belongs to Bancolombia, its new owner is keeping a respectful distance when it comes to running things, and for good reason.
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Best Bank Costa Rica: Sweet Insulation
Costa Rica’s government backed banks have played an important role in supporting the country’s economy, and continue to dominate at a time when private financial institutions and foreign operations may find it difficult to enter or increase share.