Banco Patagonia inks investment banking deal; Chile publishes draft fintech law

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TOP NEWS IN LATIN AMERICAN BANKING & FINANCIAL SERVICES

* Argentina-based Banco Patagonia SA signed an agreement with UBS BB Investment Bank to provide local clients greater access to international capital markets and investment banking services. UBS Group AG owns a 50.01% stake in UBS BB Investment Bank, while Banco do Brasil SA holds the remaining 49.99%.

* Chile's CMF financial markets commission made public a proposed law to provide a legal and regulatory framework for collective financing platforms and other financial technology activities related to the stock market. The proposed law, which was submitted to the finance ministry in November 2020, is based on five core pillars, including proportionality, neutrality, comprehensiveness, flexibility and modularity.

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BANKING

* Colombia-based Banco de Bogotá SA will issue 500.00 billion Colombian pesos of ordinary bonds on Feb. 10, expandable to 600.00 billion pesos. Proceeds from the dual-tranche offering will be allocated to the company's working capital.

* Peru-based Banco Agropecuario said it appointed César Manuel Quispe Luján chairman of the board. Quispe Luján most recently worked as deputy general manager of Peru's Fenacrep savings and credit cooperatives federation.

* Banco BTG Pactual SA CEO Roberto Sallouti said the Brazilian bank aims to have 4.5 million digital accounts in three years, representing 15% of the 30 million Brazilians who have a monthly income above 5,000 reais, Valor Econômico reported.

FINANCIAL SERVICES

* The volume of credit, debit and prepaid card payments in Brazil reached 2 trillion reais in 2020, up 8.2% from the previous year, Valor Econômico reported, citing data from the Abecs industry association.

Pablo Jiménez Arandia contributed to this report.

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