Home AWARDS The International Banker 2019 North & South American Awards Winners

The International Banker 2019 North & South American Awards Winners

by internationalbanker

The banking sector of the Americas is a medley of talking points—both good and bad. Major markets from head to tail are experiencing fluctuating performances, with noteworthy developments in both directions.

Panama, for instance, was recently added to the European Union’s blacklist of high-risk nations that do little to counteract dirty money. At the same time, the Inter-American Development Bank invested in the Central American country’s Metrobank to increase credit-financing levels to Panama’s small- and medium-sized enterprises.

In the United States, a landmark merger between BB&T Corporation and SunTrust Banks has been agreed, pending regulatory and shareholder approval, which would create a new entity and the sixth largest US bank by assets. If the merger is successful, then observers expect a wave of US bank consolidations. With a friendly administration in the White House, eager to liberalize a banking sector that it views as overburdened by regulation, the merger will likely receive regulatory blessing and open the gates to more consolidation.

Canadian mortgage growth recently sunk to a 17-year low, sparking concerns over the highly regulated Canadian mortgage market. With residential mortgages growing 3.1 percent to $1.55 trillion year-to-date in December 2018, the growth rate is at its lowest level since 2001. The anaemic growth has caused banks to seek business elsewhere while sparking a national row over Canadians’ inability to purchase a home. While Canada’s banking regulator argues in favor of more rigorous stress tests and against loosening the reins of credit markets, detractors moan about the negative impacts on growth.

A string of positive moves by the Bank of Mexico, Mexico’s central bank, has garnered high praise. In particular, the Mexican central bank implemented more prospective and complex models that allow a Mexican institution to more readily meet its capital preservation and liquidity objectives. At the retail level, Mexico City officials also agreed to address a rash of robberies plaguing ATM customers across the city. To combat the rash of post-ATM thefts, Mexico City bank cameras will be linked to a C5 security system—which authorities expect will reduce theft incidents.

Despite these positive developments, unease still permeates the Mexican banking market as foreign investors wring their hands over Mexico’s newly elected president, Andrés Manuel López Obrador. Mexican bank stocks dipped considerably after the government’s proposal to cut certain bank commissions.

Chile’s banking industry has undergone numerous changes since its business-friendly president, Sebastián Piñera, took office in 2018. Higher credit growth in the country has allowed for the Chilean central bank to raise national interest rates by 25 basis points to 3 percent. Chile bounced back from the hefty setback brought about by the end of the commodity super-cycle. Amid the myriad of exports affected, Chile’s main export—copper—saw its price plummet to record lows.

Nonetheless, the country’s banking sector is currently in an energized upswing as new and lucrative deals are brokered throughout the industry.  For instance, the insurance conglomerate Chubb—which is seeking a greater footprint in Latin America—has recently finalized a deal with Banco de Chile, the country’s largest bank. The 15-year distribution agreement will allow Chubb to capitalize on the growing Chilean market as a springboard to access the rest of Latin America’s markets.

The recent election of Brazilian populist President Jair Bolsonaro sent shockwaves throughout Latin American markets. Despite political hand-wringing, the country’s banking sector seems to have shrugged off any instability and continues to grow. Deutsche Bank recently announced that it is making the necessary arrangements to return fixed-income trading business back to Brazil. The move appears to be a direct response to the new president’s economic proposals as he pursues a pro-business agenda.

Banco Bradesco, Brazil’s second-largest bank, has announced that it will turn to artificial intelligence (AI) in an effort to enhance its banking services. The AI application has been under development for four years and promises to improve user experience, reduce costs and boost sales in 2019.

Argentina is still limping out of its 2018 currency crisis as its benchmark interest rate hovers around 56 percent. The interest rate—the highest in the world—was an attempt by the Argentine central bank to slow the bleeding as the country suffered from a strong US dollar in tandem with increasing US yields.

ICBC (Industrial and Commercial Bank of China) Argentina recently struck a deal with IBM to implement cloud and AI technology to effectively reinvent the Argentine banking industry. The deal, worth $63 million, is expected to increase response time, predict consumer behavior and reduce client queries.

 

 >>>NORTH AMERICA AWARD WINNERS  

 

               BANKING CEO OF THE YEAR                  
North America
Mr. Bharat Masrani

TD Bank Group (Canada)

**********

BEST CUSTOMER SERVICE
PROVIDER OF THE YEAR

North America
RBC Royal Bank (Canada)

**********

Best Investment Bank Of The Year Canada
TD Securities

Best Investment Bank Of The Year Mexico
VACE Partners

Best Investment Bank Of The Year United States
JP Morgan

Best Commercial Bank Of The Year Canada
BMO Bank of Montreal

Best Commercial Bank Of The Year Costa Rica
Banco BCT

Best Commercial Bank Of The Year Honduras
Grupo Financiero Ficohsa

Best Commercial Bank Of The Year El Salvador
Banco Promerica

Best Commercial Bank Of The Year Jamaica
National Commercial Bank Limited (NCB Jamaica Ltd)

Best Commercial Bank Of The Year Mexico
Banregio Grupo Financiero (BanRegio)

Best Commercial Bank Of The Year United States
Live Oak Bank

Best Private Bank Of The Year Canada
RBC Wealth Management

Best Private Bank Of The Year Mexico
Santander

Best Private Bank Of The Year United States
Citi Private Bank

Best Innovation In Retail Banking Bahamas
Bank of The Bahamas

Best Innovation In Retail Banking Barbados
Scotiabank

Best Innovation In Retail Banking Canada
TD Canada Trust

Best Innovation In Retail Banking Costa Rica
BAC Credomatic

Best Innovation In Retail Banking El Salvador
Banco Promerica

Best Innovation In Retail Banking Jamaica
First Global Bank Limited

Best Innovation In Retail Banking Mexico
BBVA Bancomer

Best Innovation In Retail Banking Trinidad and Tobago
Republic Bank Limited

Best Innovation In Retail Banking United States
Chase

Best Practice Investor Relations Canada
TD Bank Group

 

 

 

 >>>SOUTH AMERICA AWARD WINNERS  

 

BANKING CEO OF THE YEAR
South America
Mr. Juan Carlos Mora Uribe

Bancolombia (Colombia)

**********

BEST CUSTOMER SERVICE
PROVIDER OF THE YEAR

South America
Produbanco (Ecuador)

**********

Best Banking Group Colombia
Grupo Bancolombia

Best Banking Group Peru
Intercorp

Best Investment Bank Of The Year Brazil
Itaú BBA

Best Commercial Bank Of The Year Argentina
Banco Galicia

Best Commercial Bank Of The Year Bolivia
Banco Mercantil Santa Cruz

Best Commercial Bank Of The Year Brazil
Banco Bradesco

Best Commercial Bank Of The Year Chile
BancoEstado

Best Commercial Bank Of The Year Colombia
Banco de Bogotá

Best Commercial Bank Of The Year Ecuador
Banco del Pacífico

Best Commercial Bank Of The Year Paraguay
Banco Regional

Best Commercial Bank Of The Year Peru
Banco de Credito del Peru

Best Private Bank Of The Year Brazil
Itaú Private Bank

Best Innovation In Retail Banking Argentina
Banco Galicia

Best Innovation In Retail Banking Bolivia
Banco Mercantil Santa Cruz

Best Innovation In Retail Banking Brazil
Banco Bradesco

Best Innovation In Retail Banking Chile
Banco BICE

Best Innovation In Retail Banking Colombia
Grupo Bancolombia

Best Innovation In Retail Banking Ecuador
Banco del Pacífico

Best Innovation In Retail Banking Paraguay
BBVA Paraguay

Best Innovation In Retail Banking Peru
Banco de Credito del Peru

Best Innovation In Retail Banking Uruguay
Banco República (BROU)

Best Practice Investor Relations Brazil
Banco do Brasil

Best Practice Investor Relations Chile
Banco de Crédito e Inversiones (BCI)

 

 

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