Nearshoring has become a topic that is discussed so often – and applied to so many issues – that it seems to be everywhere, and nowhere at once. Euromoney talks to banks operating in the Mexican market to find specific examples of new business being generated by nearshoring.

Having taken a hammering following Mexico’s election results and the Brazilian president's comments on fiscal consolidation, the prospects for the key Latin American currencies over the remainder of 2024 are unclear.

A report from Citi asks if Mexican banks must increase interest rates on their deposit base.

Mexican banks have sold off hard since Claudia Sheinbaum – as widely expected – was confirmed as the country’s next president.

Though HSBC retrenched from other Latin American markets, it stayed in Mexico, and country chief Jorge Arce says that the bank is well-positioned to take advantage of the nation’s unique blend of structural growth drivers.

The bank is looking to capitalise on its local presence in Latin America as Korean and Chinese firms intensify their nearshoring efforts.

It is not hard to find short-term worries over global markets’ state of readiness for the US’s transition to one-day settlement in late May. But even if the UK, Europe and those Asian markets still using two-day settlement can adapt to the shift in the longer term, they will also face intense pressure to lessen their dislocation from the US cycle by copying its move. Many also fear the ultimate end-game of same-day or even instant settlement.

The cost to the government of supporting the Mexican oil firm’s debt could rise to 1.5% of GDP in 2025. Could it walk away?

As Citi presses on with its consumer-banking exits around the world, the job of defining what its international network now represents falls to its newly appointed head of international, Ernesto Torres Cantú.

Deutsche Bank’s Mexico team says the country is vital for Latin American credibility and that nearshoring will drive FDI in the coming decade.

Will 2023 be Brazil’s year – or Mexico’s?

A persuasive case can be made for nearshoring, but so far in Latin America there has been little direct evidence that it is happening. In Mexico, things are about to change.

Nearshoring has been seen to drive credit growth among the country’s smaller regional banks.

The region’s advantage is likely to be short-lived and could fade by 2024, according to JPMorgan's private bank head.

Restrictions on redundancies force out larger banks in Mexico from bidding for business.

The bank is focusing on organic growth by acquiring retail clients and launching a private bank.

Bank’s ESG head urges competitors and regulators to respond more quickly to emissions accounting challenge.

The war in Ukraine has further highlighted the benefits of Banco Santander’s diversification across Europe and the Americas, according to executive chairman Ana Botín. However, its European home market may be a big disadvantage in Citi’s looming auction of Mexican lender Banamex.

The chance to acquire Citi’s Mexican business could attract some unexpected bidders.

Citi’s decision to withdraw from consumer banking in Mexico demonstrates the extent to which fintech players have transformed this market. How prepared are the other incumbents to take on the competition?

The decision to sell Citibanamex ends the ‘Mexican exception’.

German lender renews focus on LatAm after 2015 withdrawal.

Bank CEOs do not like it, but the regulators are fostering competition.

BBVA is relying more on its Latin America business. And the countries in that region are relying more and more on the global bank in turn. BBVA’s global head of country monitoring, Jorge Sáenz-Azcúnaga, explains how he expects this symbiosis to evolve.

The bank's management is confident that pandemic losses will be contained.

Emerging markets have regained some of the buoyancy lost during the early months of the coronavirus crisis, but analyst opinions hint at the difficulty of identifying which EM currencies investors should favour.

The congressional debate on Mexico's controversial proposed currency bill has been postponed, but opponents, including the country's central bank, should not celebrate too soon.

In a year of shocks and surprises, it’s hard to say where Mexico’s economic and financial performance ranks – but it’s up there.

Private sector digital adoption is surging because of the pandemic. The resultant efficiencies will partially offset pressure on profitability at the bank.

The country is losing the war on the coronavirus, as well as wasting the ensuing digital payments opportunity eagerly grasped by others in Latin America.