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Finansur asset freeze lifted; Grupo Sura sells Chile annuity biz

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Finansur asset freeze lifted; Grupo Sura sells Chile annuity biz

* An Argentine judge lifted an asset freeze on troubled lender Banco Finansur SA, following a recommendation from the central bank, to facilitate the bank's sale and protect affected parties before a March 9 deadline that would suspend the bank, Clarín reported. According to an El Cronista report, an unnamed investment fund from either the U.S. or the U.K. has made an offer to buy the troubled bank and capitalize it with around $15.0 million.

* Sura Asset Management Chile SA, part of Colombia's Grupo de Inversiones Suramericana SA, said it had reached a deal to sell its Chilean annuity business to BICECORP SA and Inversiones BICE Chileconsult SA for $232.0 million. Sura said in a statement that it would retain its life insurance operation in Chile.

MEXICO AND CENTRAL AMERICA

* Mexico's financial system is solid and has remained well-capitalized in recent years despite global volatility, the country's finance minister, José Antonio González Anaya, told El Economista in an interview. Anaya added that the new fintech law was "innovative" and a vital tool to ensure consumer protection.

* Mexico's next president must tackle the country's large informal economy, Ernesto Torres Cantú, general director of Banco Nacional de México SA Integrante del Grupo Financiero Banamex, told El Economista in an interview. He said the next administration should also show respect for institutions and strengthen the rule of law.

* Banco Sabadell SA Institucion De Banca Multiple is planning a significant capital increase in the near future, El Economista reported, citing CEO Francesc Noguera. He did not say how much capital the bank aimed to raise through the operation, which must still be approved by the board of directors.

* The credit portfolio of Mexican banks rose 9.4% in January from the same month a year ago to reach 4.700 trillion Mexican pesos, El Economista reported, citing data from the CNBV industry regulator. Corporate credit rose 10% year-over-year to more than 3.000 trillion pesos while consumer financing increased 8.6% to 972.00 billion pesos.

CARIBBEAN

* The Cuban central bank imposed a resolution stipulating that state-run companies must first get a letter of credit from the regulator before they can import purchases valued in excess of the equivalent of $100,000, Reuters reported.

BRAZIL

* Banco Triângulo SA is preparing to launch a digital platform for its clients with small and medium-sized retail businesses, Valor Econômico reported.

* Brazil's central bank lost 1.30 billion reais on foreign exchange swap operations in February following a gain of 3.33 billion reais a month earlier, Valor Econômico reported. In February 2017, the monetary authority made a profit of 2.10 billion reais on the operations.

ANDEAN

* Christian Kruger, head of Colombia's migration agency, said the country will close its land and water migration checkpoints ahead of elections scheduled for March 11, Reuters reported. The borders are scheduled to be closed 6 p.m. local time on March 8 and will be reopened 4 p.m. local time on March 11.

* Colombian central bank president Juan José Echavarría has hit back at criticism from the International Monetary Fund about the issuer's recent monetary policy decisions, which have often taken the market by surprise, El Tiempo reported. He said there was no lack of coherence between what the monetary policy board says and does but conceded that its statements could be improved.

* Farmers who have borrowed money from Peru's troubled state-run lender Banco Agropecuario have stopped repaying their debts because they think the bank might be about to close down, Gestión reported, citing "a source close to the bank." The publication said the default rate was rising to more than 39%.

SOUTHERN CONE

* Argentina's Banco de Inversión y Comercio Exterior SA will launch a credit line for small and medium-sized companies led by women for the purchase of capital goods with repayment terms of up to 15 years for loans in the local currency, La Nación reported.

* Mortgage lending in Argentina rose 7.6% or 10.20 billion Argentine pesos in February from the previous month, accumulating a 12-month increase of 128.6%, El Cronista reported, citing the central bank's latest monthly report. Almost all the mortgages being granted are inflation-adjusted UVA loans.

* Argentine credit fintech Moni Online SA plans to launch the country's first-ever fully digital trust fund at the end of the month to raise some 120.0 million Argentine pesos, pending regulatory approval from the CNV securities commission, El Cronista reported, citing CEO and co-founder Juan Pablo Bruzzo. The proceeds will be used to finance part of the company's credit portfolio.

* Uruguayan central bank president Mario Bergara played down concerns about the country's inflation rate, which exceeded the top end of the official 3% to 7% target range last month, saying it was not a "dramatic situation," El País reported.

* The CEO of Walmart in Latin America, Enrique Ostalé, said the sale of Walmart Chile's credit card business to Banco de Credito e Inversiones SA should be completed by the end of the year but still needs approval from the SBIF banking industry regulator and the FNE competition watchdog, La Tercera reported.

PAN LATIN AMERICA

* Women in Latin America are less likely than men to have a bank account, access credit or to save money, El País reported, citing a report by Banco De Desarrollo De América Latina. It said 49% of women in the region have a bank account, compared with 54% of men.

* Fitch Ratings said it saw stronger corporate credit profiles across Latin America in the fourth quarter of 2017, but notes election uncertainty, particularly for Brazil, Mexico and Colombia, could hinder further credit improvements in the current year.

* The 11 member-countries of the Trans-Pacific Partnership, which include Chile, Mexico and Peru from Latin America, are set to sign a new trade deal on March 8, the Financial Times reported. The bloc is also considering admitting new member-nations, Japan's chief negotiator to the trade deal, Kazuyoshi Umemoto, reportedly said.

IN OTHER PARTS OF THE WORLD

* Asia-Pacific: Japan to punish cryptocurrency exchanges; State Bank of India penalized

* Middle East & Africa: Ghana's ADB, uniBank deny takeover; Saudi prince seeks end to bank tax dispute

* Europe: Aviva FY'17 profit jumps YOY; EU rules out special treatment for UK

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.