Latin America and Caribbean

BTG Pactual launches online-only investment platform; Banco do Brasil shedding jobs as it pushes digital.

New management aims to rebuild core equity; attractive valuation if it avoids equity issuance.

Revenues still depressed by poor ECM; DCM and M&A resilient but at low levels.

Brazil’s economy leads the world in high interest rates. It is a blessing for banks but a burden on the economy – draining resources away from both new investment and consumption. Will new credit platforms finally jolt the established banks into a competitive response where previous strategies have failed?

Citi seeks to commit to Mexico after Latin America withdrawal; HSBC injects capital but commitment questioned.

Sale of JV stake will boost capital ratios but adds strategic uncertainty, while the acquisition further strengthens Brazil’s largest private bank.

Exchange already ‘toppish’, valuations suggest; Bovespa argues internationalisation adds differentiation.

Citi exit increases concentration; lack of competition ‘causing economic damage’.

Brazil’s central bank chief has missed a great opportunity to address its uncompetitive banking sector.

New regulation in the pipeline to cover fintech companies; large banks wary of cannibalisation of revenues.

Since demutualization, Brazil’s stock exchange, the BM&F Bovespa, has become hugely profitable and powerful but the majority of its brokers are struggling for survival. Doubts remain as to whether their mutual interests can be realigned but there is little sympathy for the brokers.

Best global performers so far this year; Rally technical; fundamentals remain poor.

The downturn in Brazil does not faze Ricardo Lacerda, founding partner of local investment bank BR Partners. Advisory remains the bedrock of his business, but political instability makes him think the next five years could undermine the last 20.

Brazil might develop a more mutually beneficial equities market, but history suggests it won’t.

Petrobras opens way for strong Brazilian pipeline; Argentina sovereign praised for helping deal flow.

Political risk no longer driving equity performance; privatizations on investors radar.

Markets rally on Rousseff’s woes; corporations pressure politicians.

Argentina and Brazil are heading in opposite directions.

Every cloud has a silver lining, and private equity firms are pretty good at finding them. Is that why they are now targeting crisis-hit Brazil? Have they learnt from their poor recent performance?

Country risk scores for many of the large emerging markets (EMs) continued to fall in the first months of the year. Risk scores have now reached levels that do not preclude another global shock if China hits the skids.

Cheapest access to dollars: politics helps mask economic realities.

Shores up confidence; retains minority Swiss bank stake.

International banks are picking up the suitcase banking habit in Latin America again. They may find it hard to return.

What’s a wealthy Brazilian to do faced with economic and political turmoil, scandal at one of the country’s leading private banks, and a big change to the tax law? Turn to the undisputed market leader in wealth management, it seems.

The Central Bank of Brazil is facing a credibility struggle, making it even harder for investors to predict when country’s turnaround will come.

Political instability, falling commodity prices, central-bank policy uncertainties and conflict were the principal negative risk factors for investors to contemplate at the turn of the year, as China’s troubles were brought into focus by another round of financial volatility.

International investors will swiftly return to Latin America if they see clear evidence of economic progress.

Brazil or Argentina need to spark revival; Latin America investment banking’s worst year since 2009.

Esteves’ exit fails to slow outflows; oil and gas exposure in spotlight.

With a struggling economy, Brazil will continue to rely heavily on its state development bank to provide long-term finance for crucial infrastructure projects, unless private-sector alternatives can be found.