Mexico may now be the world’s 15th largest economy, but approximately 38 million Mexican adults are still unbanked – roughly the size of the population of Canada. Education and job creation have been a focus of the Mexican government; one bank in the country stands out for its efforts to help that progress by providing financing solutions, Citibanamex, which wins the award for Latin America’s best bank for sustainable finance.

After heavy investment in Mexico, Credit Suisse is now firmly rooted in the two largest markets in Latin America where it has a unique offering by having an investment bank, an asset manager and a wealth manager – all with a global footprint. After hiring 30 new people in Mexico, the bank saw net new assets increase by double digits last year.

BAC International Bank introduced a new brand for its network across central America, but in all other aspects it was business as usual.

Under Thiago Fernandes, head of environmental, social and governance (ESG) for Latin America, Bank of America Merrill Lynch is changing the way corporate philanthropy operates in Brazil; this year it wins Euromoney’s award for Latin America’s best bank for corporate responsibility.

While BAML and Citi are both reaping rewards from maintaining commitment and presence in the region, the winner of the best bank for advisory is probably the Wall Street firm most synonymous with retreat there. Goldman Sachs has invested and divested from the region as its fortunes waxed and waned, but this year saw a very positive return. Led by Gonzalo Garcia and Ram Sundaram, co-heads of Latin America, the bank has thrown resources and balance sheet at the region. It has paid off.

Banks throughout Latin America have been seeking to increase their exposure to the small and medium-sized enterprise segment in recent years. Not only is it good diversification and a good potential source of larger corporate clients in the future, it also pays well.

This award goes to HSBC for its transformation of HSBC Mexico. As Euromoney has reported a number of times in recent years, the weak performance of the bank – coupled with the wider strategic retreat of the bank from some Latin American retail markets – had led to expectations that it would be sold.

Investment bank steps in as BNDES stops crowding out; an important first in local-denominated financing of large project puts down marker.

A strengthening dollar is going to make life harder for emerging markets, whether you want to hear it or not.

There’s an old joke about a tourist approaching a local to ask for directions: The local considers, sucks on his teeth for a while and replies “I wouldn’t start off from here if I were you”.

Bracher admits “severe pressure” to reduce spreads; credit portfolios tilting to SME and consumer segments.

Ground shifts under banks’ move to normalization; financial, economic and political uncertainties to dominate boardrooms.

It is one thing to simplify a business plan but quite another to execute it. Nevertheless, Citi appears to be on the verge of making its new simple approach, well, simple.

The country has blown its chances with its monetary mess.

Professor Niall Ferguson visited São Paulo in April to address Itaú’s annual MacroVision conference, and found time to sit down with Euromoney to talk fintech, social media and trade. In particular he focused on China and how it will impact Latin America’s future.

International investors blame political uncertainty; locals view sell-off as weakening carry-trade dynamics.

Have the vision. Create the plan. Go and do it.

Recent conversations with bankers and economists in Brazil have been confusing – sometimes it is hard to believe that both groups are talking about the same country.

The blueprint for BNDES is for a development bank that partners with the private sector to facilitate more socially beneficial projects while using less capital. Eliane Lustosa, BNDES director of capital markets, is at the forefront of this challenge.

Risk not commensurate with project debt returns; investment crucial to fill gap as economy normalizes.

'Abundant' potential liquidity from international insurance companies and pension funds; with drop in rates, local capital markets financing is now cheaper than BNDES.

Banco Galicia

Banco de Crédito del Perú

BBVA Bancomer

The results of Euromoney's best managed banks in Latin America 2018, by country:

Euromoney attempts to look through the gloss of momentum and short-term results to answer the question long-term investors ask: which banks have the best blend of performance, management expertise and fundamental strength to outperform?

Bradesco

Banco Santander-Chile

Ficohsa

Grupo Aval