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.
Category: Awards
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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.
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BEST SUB-SOVEREIGN FINANCING
Capitalizing on upgrades and market opportunity, State of Mexico declined to use any major investment banks for its 25 billion peso refinance which extended duration and slashed the price on most liabilities.
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BEST CORPORATE ISSUER/EQUITY FOLLOW-ON
Gerdau, the Brazilian multinational steel company with assets spread around the region and in the US, has been the most frequent user of LatAm capital markets in the past year.
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BEST SYNDICATED LOAN/CORPORATE BOND ISSUE
Braskem’s March 2007 bid to acquire Ipiranga and Copesul unleashed a series of financings that kept the Brazilian petrochemicals giant in constant discussions with its bankers, lenders and investors through the subsequent 18-month period.
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BEST QUASI-SOVEREIGN BOND/FINANCIAL INSTITUTION BOND
BNDES has not been a frequent issuer in the dollar bond markets this decade. When the time came to refinance notes issued in 1998, however, the Brazilian development bank brought a well priced new 10-year bond that preserved the 0% withholding tax structure featured in the original issue.
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BEST CORPORATE LIABILITY MANAGEMENT
By the second quarter of 2008, the Dominican Republic’s capital markets, spurred on by three years of GDP growth rates topping 9%, had gradually become ripe for sizeable corporate issuance.