Efforts to bring finance to the masses have brought an unsecured lending boom to South Africa, with home improvements loans at the forefront. Margins are high. But banks are increasingly using the product for higher-income earners too. Is this just another retail credit bubble?

BTG Pactual’s CEO, André Esteves, says he used its recent IPO to lock in a spirit of entrepreneurialism at the firm. He reckons it is the key to the investment bank’s continued rise. But how far can he take the bank?

In the 1990s the pack of European banks ploughed into the emerging markets. Now a perfect storm is brewing – the eurozone crisis, deleveraging and tighter financial regulations – the pack is heading home. Could the retreat have some benefit for EMEA?

The new democracies of Egypt, Libya and Tunisia are looking for financial support from the old dynasties of the Gulf. Countries such as Saudi Arabia and Qatar see a chance to extend their influence and make returns. But will a resurgence of nationalism halt the investment?

With Juan Carlos Echeverry’s August departure, Latin America has lost one of its most effective finance ministers. And certainly its most combative. Just days before the news broke that he had lost his job, Euromoney met him in Bogotá to hear his uncompromising views on sustaining Colombia’s recent growth. The only unanswered question: did he know what was to come?

Being a bank in the Middle East has never been tougher. But the leaders of six of the region’s top firms still see big opportunities for growth. They have taken tough decisions and placed their businesses on firmer footings. But the shadow of sanctions and further unrest looms over their plans.

The eurozone is leading most areas of the world in declining ECR scores, according to Euromoney’s country risk survey. The rise in risk is not as steep as in 2011, but it is a source of anxiety for ECR’s 400 experts.

In an exclusive interview, Arunma Oteh says her temporary suspension earlier this year as head of the Nigerian Securities and Exchange Commission was just the latest in a series of attempts to unseat her. But she says she and her allies are winning the battle to stop market abuses and change Nigeria.

A new, reforming government, renewed international competitiveness and a strong pipeline for capital market deals are leading this Latin American market forwards again.

Peru holds promise for capital markets but timing is everything. While pipelines – especially for debt – are growing, banks face a delicate balance between investment risk and reward. Compounding the difficult strategy call is the development of the local independent investment banks in an intra-Andean market.

The country’s banks have benefited from several years of unprecedented calm. But as the fighting threatens to spill over the border, is it time to batten down the hatches again?

‘Unrealistic’ valuations dampen interest; Reversal of last few years of flows

Group fears systemic risks; Follows in footsteps of Japan

Precaution key, says HKMA chief; Financial stability is priority

Commodity prices might go higher still; All eyes on south America’s harvest

Plans to be trading by mid-2013; Europe a template for Asia expansion

New nationalist government; EU condemns central bank politicization

Management from UBS and Barclays; Minister claims ‘victory for all Nigerians’

Fall in use by domestic and foreign traders; Poor economic figures hold it back

Drip-feed of assets continues; RBS and Lloyds accelerate disposals

Road and rail package worth $66 billion; Private sector wary of government controls

Long-term rising trend identified; London remains dominant with 38% share

After five years of crisis, bankruptcies, redrafting of regulation and redrawn business plans, the biggest structural change yet to the banking system is on its way. Euromoney looks at what the great disintermediation means for financial markets – and why it may not all be bad news for banks.

Auction system hampers ECM deals; Private pension funds growing fast

Foreign investment ‘not discouraged’; DBS-Danamon deal sets precedent

VTB’s $1 billion perpetual bond this summer – the first in Russia – was partly modelled on a similar issue by Banco do Brasil in January, says Herbert Moos, VTB’s CFO.

PPF exits Nomos; VTB backs $1.5 billion buyout

Dispute with CEO; Cites cost-cutting, centralization

For 20 years, Charles Dallara worked the corridors of power in the financial community as managing director of the IIF. Then Lehman Brothers and the Greek crisis brought his role into the glare of publicity. As Dallara prepares to step aside, he considers the changes that have taken place in the banking industry, and the role the IIF has to play in its future.

Charles Dallara, the departing managing director of the IIF, has transformed the organization into an effective global pressure group. It needs a successor who can maintain its relevance.