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Agiplan Financeira strikes deal to acquire Banco Gerador

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Agiplan Financeira strikes deal to acquire Banco Gerador

* Following two years of negotiations, Brazilian financialinstitution Agiplan Financeira reached a deal to acquirestruggling local lender BancoGerador SA, Valor Econômicoreported. Terms of the deal, which is subject to central bank approval, werenot disclosed.

MEXICO AND CENTRALAMERICA

* The seven systemically important Mexican banksrecently selected by local regulator CNBV are ready to meetthe required additional capital buffer for G-SIBs, Fitch Ratings said. Thebanks include BBVA BancomerSA, Banco Nacional deMéxico SA, BancoSantander (México) SA, BancoMercantil del Norte SA, HSBC México SA Institución de Banca Múltiple Grupo FinancieroHSBC, Banco InbursaSA and ScotiabankInverlat SA.

* Banco delBajío SA is expanding its mortgage and auto lending operationsamid a boom in Mexico's automotive and housing sectors, El Financiero reported, citing Joaquín Domínguez Cuenca, anexecutive director at the bank.

BRAZIL

* A report from a Brazilian Senate committee saidthere is sufficient evidence against President Dilma Rousseff to put her on trialfor allegedly using illegitimate funding to administer the federal budget,Bloomberg News reported. Meanwhile, the country's Supreme Court is set todecide on May 5 whether to oust Eduardo Cunha, who faces corruptionallegations, as the speaker of the lower house, Bloomberg reportedseparately.

* Brazilian companies filed 571 requests for bankruptcyprotection during the first four months of 2016, up from 289 requests in thesame period a year ago, Reuters reported, citing credit research firm SerasaExperian.

* BancoDaycoval SA posted first-quarter netincome of 85.2 million Brazilian reais, down 18.9% compared to the 105.1million reais earned in the year-ago period. The bank booked 159.1 millionreais in loan-loss provisions for the quarter, up 39.9% from a year earlier.

* Banco Centraldo Brasil earned about 12.34 billion Brazilian reais through itscurrency swaptrades in April, following a record gain of 42.70 billion reais in the previousmonth, Valor Econômico reported.

* Brazilian real estate firm PDG Realty signed an agreementto restructure3.7 billion Brazilian reais of its debt with Banco do Brasil SA, Caixa Econômica Federal, and , Valor Econômico reported.

* Former BTGPactual Group CEO André Esteves, who was released from house arrestin April, visitedthe company's employees in Chile after travel restrictions against him werelifted, El Mercurio reported.

* Itaú Unibanco Holding SA CFO Eduardo Vassimon said thebank is seeing some signs of recoveryin Brazil's economy, which could allow the company to reduce its provisions forloan defaults in 2017, Valor Econômicoreported.

* Rafael Guedes, an executive director at Fitch Ratings,said there is currently no evidence to suggest that Brazil might be able to recoverits investment-grade rating in the short term, adding that this process usuallytakes several years, Valor Econômicoreported.

* Banco ABCBrasil SA posted recurring netincome of 95.5 million Brazilian reais for the first quarter, up 19.1%compared to 80.3 million reais in the year-ago period.

ANDEAN

* BancoAgropecuario garnered a $57 million from French public financialinstitution Agence Française de Développement for the funding ofenvironmentally friendly agricultural projects, Gestión reported.

* After formalizing its takeover of in January,Colombia's Banco DaviviendaSA said it has established its own leasing known as Davivienda Leasing SA. Thenew unit will offer financing for cargo and passenger vehicles, commercialbuildings and industrial machinery, among other items.

* ING Americas, a part of ING Groep NV, said it is into Colombia with a newlyestablished unit to be called ING Capital Colombia. The company named AndreaPuerto as its country representative for the new entity, which will initiallyfocus on growth in structured finance and sector-based finance.

* Banco DeDesarrollo De América Latina, or CAF, issued a $1.25 billionthree-year bondat mid-swaps plus 100 basis points, Reuters reported.

SOUTHERN CONE

* Although Argentina's return to global capitalmarkets after a 15-year hiatus is a significant achievement, the country stillrequires sustained reductions in its macroeconomic imbalancesto support further gains in the credit outlook for the government, companiesand banks, Moody's said. The rating agency expects GDP to contract 1.5% in 2016with inflation remaining higher than 30%.

* A quarterly survey by BancoCentral de Chile showed that business confidence levels in Chileremained lowin the first quarter, Reuters reported. "In any case, almost all of thoseconsulted expect that 2016 will not be very different from last year," thecentral bank said in a report.

* Annual inflationin Uruguay reached 10.47% in April, well above the government's target upperlimit of 7%, Reuters reported, citing data from the Statistics Office.

* GrupoFinanciero Galicia SA said its board approved the payment of a cashdividend correspondingto the fiscal year ended Dec. 31, 2015, in the amount of 150.0 millionArgentine pesos. The payment will be made to shareholders of record as of May19.

* Large financial institutions in Uruguay are making aneffort to transitiontheir clients to electronic banking in order to reduce costs and alleviatepressure on profitability, Búsquedareported.

* Banco deGalicia y Buenos Aires SA opened two new branchesin the Argentine province of Neuquén, increasing its total number of branchesin the country to 263, La Nacionreported.

* In their negotiations with the government over newregulations, Paraguayan banks have proposedinterest rates of between 24% and 28% on credit card loans, 5 Días reported.

IN OTHER PARTS OF THEWORLD

* The Malaysian Ministry of Finance said it will disbandthe prime minister-led advisory board of 1Malaysia Development Bhd. and takeover its assets, Reuters reported. The move comes in the wake of at least sixinternational investigations for possible money laundering.

* CitigroupInc. said it will roll out voice recognition technologyto its Asian retail customers to facilitate consumer transactions, BloombergNews reported. The bank expects more than one million users to use thetechnology in the first 12 months as it upgrades its internet and mobilebanking services across the region.

* European Banking Authority Chairman Andrea Enria called onregulators to be more transparentabout new capital requirements for banks in an effort to boost financialstability and regain investors' confidence, Reuters reports. Enria particularlyindicated that the uncertainty surrounding the Pillar 2 framework could beaffecting lenders' valuations. He said market participants "are naturallyinclined to think the worst of each and every bank" if they are "unableto compare and contrast the situation of banks vis-a-vis a specific risk."

* Four years after its last review, the IMF will undertake anew assessmentof the Spanish banking sector to identify vulnerabilities and to measure thesector's resistance to another financial crisis. Back in 2012, the fund'sanalysis and recommendations played a significant role in the overhaul of someof the country's banking groups, Expansiónwrites.

* Moody's said banks in the U.K. face moderate short-termrisks in the run-up to the June 23 referendum on the country's membership inthe EU. The agency expects banks to face more durable but moderate challengesin the event of a Brexit.

Matthew Crazecontributed to this article.

The Daily Dose has aneditorial deadline of 8:00 a.m. São Paulo time, and scans news sourcespublished in English, Portuguese and Spanish. Some external links may require asubscription.