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Banking / Perspectives

Infonavit looking ahead to new sources of funding

Jerzy Skoryna

Structuring manager


State-owned mortgage lender Infonavit on Thursday (Nov 19) completed a 2.53bn-peso (US$194mn) RMBS (residential mortgage backed securities) issue, its fifth issue of 2009, bringing the company's total amount raised through such issues to over 11.3bn pesos so far this year. Infonavit is also waiting for Mexico's congress to legalize issues of covered calls, which will allow the company and other lenders to further take advantage of international markets for future funding. To find out

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With credit growth on the march, what to expect from the central bank


Rubens Sardenberg

Chief economist
Febraban

November 13, 2009

the economists at Brazil's banks are any indication, credit looks set to expand close to 20% in 2009 and 2010, according to the end-October survey from banking federation Febraban. But with the optimism back in the picture, the central bank BCB looks more No permission

Scotiabank goes for more


Carlos González-Taboada

CEO
Scotiabank Perú

November 06, 2009

tiabank has been an active player in the Peruvian banking system in the past few years. In 2006, through a combination of transactions, the Canadian group formed Peru's third largest bank - Scotiabank Perú - and last year it bought Banco del Trabajo, a more No permission

Weekly Wrap|Perspectives

Published: Friday, November 20, 2009

Latin American banking federation Felaban's annual assembly substantiated the faith which other regions are starting to show in terms of growth, as well as the coordination Latin America itself is developing, both at unprecedented levels.

At the assembly, which was held in Miami on Monday (Nov 16) and Tuesday and was attended by more than 1,500 bankers from 43 countries, representatives from China and the US lauded the region's quick recovery from the global financial crisis, noting that Latin America did not actually experience its own financial crisis.

Latin Americans' growing purchasing power, egged on by improved bank penetration and availability of credit products, interests China. And keeping in mind that still only some 36% of Latin Americans have access to financial services, as prices of such services drop and more of the region rises from poverty, the sky is the limit. While the Chinese are enthusiastic, however, their enthusiasm is tempered by an understanding that it will take time to develop strong and healthy ties between Latin America and China.

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Coming Up

  • November  24, 2009

    Banking and insurance group Bradesco to hold investor day at NYSE Euronext in New York. - Brazil

  • November  25, 2009

    Dutch financial services group ING to hold extraordinary shareholders meeting. - Regional

  • November  26, 2009

    Thanksgiving Day, US markets closed. - Regional

  • November  29, 2009

    Presidential elections. - Honduras

  • November  29, 2009

    Presidential run-off election. - Uruguay