Banks operating in the smaller LatAm economies have hunkered down during the crisis and the pecking order has remained largely the same as a result. In Bolivia, the dominant bank remains Banco Mercantil Santa Cruz (BMSC).
Category: Awards
Posted inMagazine
Best Bank Colombia: Extending Reach
Despite Colombia’s generally sturdy fundamentals during the financial crisis, its financial institutions have had to swallow their share of bitter cocktails, including isolated corporate derivative losses, toxic Lehman notes, Stanford fallout, and slowing exports to the US. An uptick in unemployment and slower economic growth also boosted defaults at the retail and corporate levels for all banks.
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Best Bank Trinidad & Tobago: Bailout Assistant
Not every bank is able to say it benefitted from assisting the government bail out troubled financial entities, but Trinidad & Tobago’s First Citizens Bank can.
Posted inMagazine
Best Local Investment Bank Colombia: Taking on the Big Boys
Bancolombia looms large in some of Colombia’s most important markets, including DCM and project finance advisory.
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Best Bank Uruguay: The Foreign Invasion
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.
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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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DEALS OF THE YEAR RESULTS
Closing a transaction was enough to call it a success in 2008 as markets disintegrated. The LatinFinance Deals of the Year celebrate triumph over adversity.
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BEST DOMESTIC M&A
Last March, the third largest exchange in the world was formed in Brazil via the merger of Bolsa de Mercadorias & Futuros, the fourth largest commodities and futures exchange, and Bovespa, the fifth biggest public exchange globally.
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BEST INVESTMENT BANK/M&A HOUSE
Extending three years of robust gains, Credit Suisse continues to monopolize the LatAm fee pool thanks to a senior team that appears to be burning the candle at both ends. In the full year 2008, it amassed $247 million in revenue from core investment banking – M&A, ECM and DCM – or 21% of the market, according to Dealogic. Second was UBS with $132 million, or 11%.