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In This List

Generali sells Panama unit; Caixa to launch new mortgage line

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


Generali sells Panama unit; Caixa to launch new mortgage line

* Italy's Generali said it had signed a deal to sell its insurance business in Panama to ASSA Compania de Seguros S.A., a Panamanian capital insurance company, for $172 million, El Capital Financiero reported. Generali Assicurazioni Internacional has operated in Panama since 1970 with a focus on damage cover.

* The Brazilian government plans to launch a new mortgage line for 1.5 billion Brazilian reais, Diário Comércio Indústria & Serviços reported, citing Caixa Econômica Federal CEO Gilberto Occhi. The new financing, to be announced by Brazilian President Michel Temer, will be used to develop urbanized real estate lots, such as gated condominiums and new neighborhoods, the executive noted.

MEXICO AND CENTRAL AMERICA

* Scotiabank Inverlat SA Institución de Banca Múltiple is launching Mexico's first mortgage product to finance real estate presales which will purportedly give more flexible credit terms to home buyers, El Economista reported.

* Mexico's Grupo Financiero Inbursa SAB de CV appointed Javier Foncerrada Izquierdo as chief executive of Sofom Inbursa, S.A. de C.V., SOFOM, ER, Grupo Financiero Inbursa. He replaces Fabiola Avendaño Ortegón, following the merger of the two companies.

BRAZIL

* The board of BTG Pactual Participations Ltd. approved the company's reverse split of class A and class B shares. The reverse split is expected to be completed Sept. 6, with the shares to be grouped in a ratio of 9 shares to 1 share.

* BB Seguridade Participações S.A. reported adjusted net income of 956.3 million reais for the second quarter of 2017, down 12.0% from the 1.09 billion reais earned a year ago. The company will also pay dividends worth 1.56 billion reais, or 80% of the company's net income in the first half, InfoMoney reported. Shareholders of record as of Aug. 10 will receive a dividend payment of about 78.86 centavos per share, and shares will trade "ex" from Aug. 11.

* Brazil's Finance Minister Henrique Meirelles said the country's Congress will be presented with a bill aimed at unwinding tax breaks to cover its increasing budget deficit, Reuters reported.

* Banco Central do Brasil President Ilan Goldfajn said in a televised interview that a better pension system will benefit economic growth for Brazil, Valor Econômico reported. Brazilian Planning Minister Dyogo Oliveira said the country's government expects Congress to approve its proposed pension reform bill without any changes, Reuters reported separately.

* Brazil's M&A activity slowed in July, with an 8.75% drop year-on-year in the number of deals wrapped up during the month, Valor Econômico wrote, citing the Transactional Track Record platform. In July, there were only 73 transactions, the lowest since May 2016.

* Banco do Brasil SA said it had received certification by bourse operator B3 for the stock exchange's governance program for state-owned companies, Reuters reported. The bank said the certification required them to disclose details of an audit examining internal controls and compliance in its 2017 balance sheet.

* Caixa Econômica Federal said Brazilian workers had withdrawn 44.03 billion reais from inactive workers severance fund or FGTS accounts, or 88% of the total funds available, Diário Comércio Indústria & Serviços reported.

ANDEAN

* The Venezuelan benchmark 2038 sovereign dollar bond declined 1.1 cents to 35.4 cents in the dollar amid rising tensions in the country, Reuters reported.

* Colombian Securities Exchange President Juan Pablo Cordoba expects to boost trading in the country's stock market by listing new funds, Reuters reported. Cordoba says the 69 companies trading on the bourse should be doubled. "We're working toward being able to list those assets in the market, so there will be a new class of equity assets, not company shares but a fund that's registered in the equity market and traded as a stock," noted Cordoba.

* Credicorp Ltd. reported second-quarter net income attributed to the company of about 920.2 million Peruvian soles, up 5.3% from 874.2 million soles in the year-ago period. The company's net interest income grew 3.6% year over year to 1.97 billion soles, while operating income jumped 4.7% to 1.27 billion soles.

* Banco de Crédito del Perú or BCP expects the Banco Central de Reserva del Perú to keep its key lending rate at 3.75% in a monetary policy meeting on Aug. 10, El Comercio reported, citing a briefing note by BCP's economic studies department.

* Colombia's Vía Baloto, an offline cash payment voucher system, is targeting 75 million transactions in banking correspondents next year and aims to sign alliances with another six financial institutions to reach 17 in total, La Republica wrote, citing Julián Buitrago, commercial services manager at IGT Colombia.

SOUTHERN CONE

* Argentina's BACS Banco de Crédito y Securitización SA has extended the dates of its two negotiable bond offerings worth up to 400 million Argentine pesos or its U.S. dollar equivalent, the company said in a regulatory filing. The offering, which will take place Aug. 9, includes 18-month class XIV bonds with a variable interest rate and variable-rate class XV securities with a 36-month term.

* BBVA Banco Francés SA has lent $200 million to the government in a repurchase loan that involves the use of Bonar bonds as collateral, Clarín reported, citing a stock market filing. In July, Banco Santander Río SA said it also granted the government a $500 million loan under the same terms.

* Argentine Production Minister Francisco Cabrera said inflation may reach around 20% at the end of 2017, La Nación reported.

* Argentine fintech companies are offering investors net annual returns of up to 42% through peer-to-peer lending platforms, El Cronista reported. With a minimum 12-month investment of 5,000 pesos, potential lenders can decide how long they want to tie up their cash and opt for high or low-risk borrowers.

* Argentine bankers expect the Banco Central de la República Argentina's monetary policy committee to leave the benchmark lending rate unchanged at 26.25% at its Aug. 8 meeting to avoid heightening uncertainty ahead of the Aug. 13 election, El Cronista reported. Some analysts said July's brisk inflation data meant an adjustment was possible at the next meeting within the month.

* Directors from Banco de la República Oriental del Uruguay met union leaders on Aug. 7 to start talks on the state-owned bank's plans to reduce opening hours at some branches and close six in the capital, Montevideo, El Observador reported. The union also rejected the bank's cost-cutting measures.

* Chile's Itaú CorpBanca said it could not rule out a sovereign rating downgrade by Moody's in the coming months due mainly to growing concern about the country's rising public debt-to-GDP ratio, La Tercera reported, citing the bank's monthly analysis. Chile's debt has risen to 21.5% of GDP in the first quarter of 2017 from 3.9% in 2007.

* Chilean Finance Minister Rodrigo Valdés said the government would present a pension reform bill to Congress once members of the Nueva Mayoría coalition have studied the draft, La Tercera reported. He had said the bill would be presented in Congress this week.

* Chilean Finance Minister Rodrigo Valdés also said June's better-than-expected economic activity data showed the economy was becoming more dynamic again, Emol reported. The Imacec growth index rose 1.4% in June, year-on-year, outpacing an expected 1.1% growth, Pulso reported, citing official data.

* Banco de Chile has signed an alliance with Brazil's GOL Linhas Aéreas Inteligentes SA, the fifth such pact agreed by the bank with airlines in the last two years, Pulso reported.

* Banco Central de la República Argentina sold 148 billion pesos in short-term Lebac notes in July, 40% higher than the previous month, to absorb peso liquidity and offset the 81-billion peso expansion caused by the partial renovation of the stock at maturity in mid-July, El Cronista reported.

IN OTHER PARTS OF THE WORLD

* Europe: Standard Life's H1 profit rises; Banco BPM posts H1 profit; Generali sells unit

Helen Popper contributed to this article.

The Daily Dose has an editorial deadline of 8 a.m. São Paulo time, and scans news sources published in English, Portuguese and Spanish. Some external links may require a subscription.