Brazil is among the countries most affected by the COVID-19 pandemic, and its banking sector has been tasked with providing urgently needed financial support to its hard-hit individual and corporate customers. One bank that has stood out during the crisis has been Banco de Brasília S.A. (BRB), serving the Federal District. BRB recently changed its strategy and has met the challenge head-on through timely and successful innovation, leading by example.
The best banking institutions in retail, commercial, private and investment banking are highlighted, along with two outstanding chief executives from their regions.
Few countries in the world can lay claim to having more experience with sovereign defaults than Argentina. Having first failed to pay its debts back in 1827, South America’s second-largest nation has gone on to achieve the undesirable feat on a further seven occasions, with the most recent episode occurring in 2014.
It’s been an eventful last few months for Bolivia, especially since October, when then-President Evo Morales, the country’s leader for more than 13 years, was forced from his position on the back of a disputed election. One of the most economically successful of Latin America’s new crop of leftist leaders who emerged in the new millennium, Morales, a member of the Aymara indigenous group, presided over more than a decade of robust economic growth.
The International Banker 2020 North and South America Awards Winners. The best banking institutions in retail, commercial, private and investment banking are highlighted along with two outstanding CEOs from their regions.
The International Banker 2019 North and South America Awards Winners
The best banking institutions in retail, commercial, private and investment banking are highlighted along with two outstanding CEOs from their regions.
Brazil’s economy is emerging from a difficult few years—but when analysing its prospects, a positive, long-term view is warranted, based on the country’s important position in world trade. With a little help from its friends and its own internal enterprise, this major South American economy, the world’s ninth largest by nominal GDP, has every reason to expect a triumphant comeback.
Chile has been one of South America’s mainstays, lauded as possibly the continent’s wealthiest and most stable country. But the Chilean economy, the health of which is heavily dependent on copper exports, has suffered greatly since the decline of the commodity super-cycle in 2014-15, and credit-rating agencies are showing no mercy—making life even more difficult for the country’s incumbent government.
There is much rhetoric around the opportunities provided by emerging markets. And there is plenty of discourse around the fact that banks are de-risking and retreating from such areas. The fact of the matter is that some regions of the world are riskier to operate in.
Brazil’s demise has been remarkable. Nearly every major macroeconomic indicator is at historically undesirable levels at present, from unemployment to inflation, and from GDP (gross domestic product) growth to public debt.