Best Bank in Latin America
Citigroup
Best debt house in Latin America
JPMorgan
Most improved debt house in Latin America
CSFB
Best equity house in Latin America
Merrill Lynch
Best M&A house in Latin America
Goldman Sachs
Best bank at risk management in Latin America
JPMorgan
Best bank at transaction services in Latin America
Citigroup
Best bank at treasury in Latin America
BSCH
There have been high hopes for Latin American capital markets for the best part of a decade, but the region has not done as well as many expected. Local equity markets are tiny and shrinking; bond markets are dominated by two sovereign issuers; spreads are wide, and it could be decades before they return to the levels seen in 1996-97.
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In this atmosphere, banks need both sheer size and a strong long-term commitment to the region in order to weather the crises and turn a profit.