* Mexico's Te Creemos SA de CV Sociedad Financiera Popular has agreed to acquire smaller rival Consejo de Asistencia al Microemprendedor SA de CV SFP in a deal that will create the country's second-largest popular finance company, El Economista reported. The transaction is subject to regulatory approval and should be completed within 12 months.
* Moody's lowered Venezuela's foreign currency and local currency issuer ratings to C from Caa3, saying it expects the oil-producing nation's debt servicing capacity to remain "severely impaired." Venezuela's foreign and local currency senior unsecured ratings and foreign currency senior secured rating were also downgraded to C from Caa3.
MEXICO AND CENTRAL AMERICA
* Speaking at an annual banking convention, Mexican central bank chief Alejandro Diaz de Leon said protectionist trade policies represent a threat to the country's economic growth and inflation, Reuters reported.
* Mexican presidential frontrunner Andres Manuel Lopez Obrador said at a banking conference that he plans to support the country's banking sector without pushing the country deeper into debt, Reuters reported. "We will support banks and we won't confiscate assets," he was quoted as saying. "There won't be expropriations or nationalizations."
* Miguel Messmacher, the undersecretary of Mexico's finance ministry, said the government plans to introduce secondary regulation to help implement the country's new fintech rules within the next six months, El Economista reported.
* Commercial banks in Mexico plan to modernize their network of around 43,000 ATMs by implementing facial recognition technology and installing backup power devices to keep the ATMs functional at all times, Notimex reported.
* Banco Santander (Brasil) SA appointed Paulo Mendes head of its investment banking business, Valor Econômico reported. Mendes, who previously worked at Banco Votorantim, Morgan Stanley do Brasil, Cassis Capital and J.P Morgan, is reportedly replacing Ricardo Bellissi, who will join Goldman Sachs do Brasil.
* Romulo Dias, a director on Banco Bradesco SA's executive board, has left the bank in order to assume the CEO position at UOL, the parent company of payment solutions firm PagSeguro Digital Ltd., Valor Econômico reported.
* Brazilian financial technology firm FinanZero Brasil Serviços Online Ltda., which operates as an online banking correspondent, expects its revenues to increase 300% in 2019, CEO Olle Widén told Diário Comércio Indústria & Serviços.
* Itaú Unibanco Holding SA, Banco Mizuho do Brasil SA and Banco Fator SA expect Brazil's central bank to cut its benchmark Selic rate by 25 basis points at its next monetary policy meeting, Valor Econômico reported.
ANDEAN
* Coface Seguro de Crédito Perú S.A.'s shareholders agreed to reduce the current number of its directors to five from six. At the same time, the company appointed Pedro Francisco Sanchez Saa, Jose Jesus Nieto Señudo and Jose Martin Ballon Espejo as directors, effective April 2. They will replace Gonzalo de la Carcova, Pablo Siade Nahum and Bruno Gonzales Chirinos.
* Ivan Duque and Gustavo Petro won primaries in Colombia on March 11 and will head their respective coalitions in presidential elections set for May, Reuters reported.
* U.S. President Donald Trump will meet with his Colombian and Peruvian counterparts during his first visit to Latin America in April, Reuters reported, citing a White House statement.
* Grupo Aval Acciones y Valores SA said banking unit Banco de Bogotá SA has taken a controlling position in Aval Soluciones Digitales SA, which will operate as a company specializing in deposits and electronic payments.
SOUTHERN CONE
* Banco de Galicia y Buenos Aires SA confirmed its acquisition of assets and privileged liabilities from troubled Banco Finansur SA following a decision by Argentina's central bank to order the latter's restructuring. Banco Galicia said it would review the details of the transaction but did not disclose the amount of assets and liabilities.
* Banco Macro SA said its board will propose to shareholders a dividend of about 3.35 billion Argentine pesos, which represents a payment of 5 pesos per share.
* U.S. President Donald Trump has accepted a request from Argentina to consider an exemption for the South American country from tariffs on steel and aluminum imports, Reuters reported, citing a statement from Argentina's government.
* At his March 11 inauguration as Chile's new president, conservative Sebastian Pinera said his government will perform "major surgery" on the public health care system, improve welfare programs, and get rid of the country's "bulldozer" approach to policymaking, Reuters reported.
* Argentine lawmakers have proposed a law that would shield holders of UVA inflation-adjusted mortgages from any wide mismatches between wage growth and monthly repayments, El Cronista reported. The so-called Lavagna law would use 10% of annual central bank profits to guarantee compensation funds.
* Chile's new government appointed Catherine Tornel, a former executive at Banco Bilbao Vizcaya Argentaria Chile SA who also has experience working at the country's pension regulator, as the finance ministry's capital markets coordinator, Pulso reported.
* Canada's Bank of Nova Scotia has received authorization from Chilean banking and financial industry regulator SBIF to acquire Banco Bilbao Vizcaya Argentaria Chile SA, Diario Financiero reported, citing sources with knowledge of the matter. Canadian regulator OSFI has also authorized the purchase, the publication reported separately, citing a senior executive of the Canadian bank.
PAN LATIN AMERICA
* Switzerland-based Zurich Insurance Group AG said it reached deals to acquire 19 providers of traveler assistance in Latin America, most notably in Argentina, Brazil, Chile, Colombia and Mexico. The buys will help the company accelerate the growth of Cover-More Group, its specialist global travel insurance and assistance solutions business.
IN OTHER PARTS OF THE WORLD
* Middle East & Africa: Emirates NBD eyes $2B capital hike; Tanzania saying no to bank rescues
* Europe: Deutsche Bank sets price range for DWS IPO; Barclays gets ring-fencing nod
Helen Popper contributed to this article.
The Daily Dose has an editorial deadline of 8:00 a.m. São Paulo time, and scans news sources published in English, Portuguese and Spanish. Some external links may require a subscription.
