* Banco de Bogotá SA posted net income attributable to shareholders of 723.9 billion Colombian pesos for the second quarter, up 33.7% from 541.4 billion pesos in the year-ago period. The bank's net interest income ticked 9.6% higher year over year to 1.843 trillion pesos, while net fee and other services income improved 15.1% to about 1.130 trillion pesos.
* Banco BTG Pactual SA's shares have plummeted more than 30% since Aug. 23, when the investment bank and its Founder Andre Esteves were targeted in police raids as part of the latest phase of the Lava Jato corruption probe, Bloomberg News reported. A Brazilian website reported Aug. 26 that police are looking into allegations that BTG had a department providing clients advice on money laundering. The bank denied any wrongdoing and said the report was "absurd."
MEXICO AND CENTRAL AMERICA
* Grupo Financiero Citibanamex SA de CV CEO Ernesto Torres Cantú said an economic rebound in Mexico towards year-end hinges on private and public investment, El Financiero reported. Speaking after the Inegi statistics agency revised downwards its GDP growth data for the second quarter to 0.0%, he said there were not yet clear signs of a recovery in investment levels.
* Mexican state housing entities Instituto del Fondo Nacional de la Vivienda para los Trabajadores and Fondo de la Vivienda del Instituto de Seguridad y Servicios Sociales de los Trab signed a partnership agreement aimed at helping more beneficiaries obtain mortgage loans, El Economista reported. The agreement will help cut down on bureaucracy, improve information sharing and allow workers with accounts at both entities to merge them to get loans.
BRAZIL
* Brazil's current account deficit widened to $9 billion in July, the largest shortfall for the month since 2014, Reuters reported, citing central bank data. The result came as exports of goods, which fell 11.1% in July, will probably weigh on the country's economic growth in the third quarter.
* Brazilian President Jair Bolsonaro's administration saw its approval rating plummet to 29.4% in August from 38.9% in February, Reuters reported, citing a CNT/MDA poll. Disapproval of Bolsonaro's personal performance as leader soared to 53.7% from 28.2% during the same period.
* Federal police in Brazil have found evidence allegedly linking lower house speaker Rodrigo Maia with corruption and money laundering, according to a police document seen by Reuters. Federal prosecutors will rule on whether to introduce formal charges against Maia.
* Brazilian Supreme Court Justice Gilmar Mendes said former President Luiz Inacio Lula da Silva, who is serving a 12-year prison term for accepting bribes, should get a retrial because of questions surrounding due process and the impartiality of the judge who sentenced him, Reuters reported. Social media conversations leaked earlier this year allegedly showed Sergio Moro, the judge who convicted Lula and incumbent justice minister, collaborating with prosecutors in the case.
* Card processor Cielo SA announced the launch of its free Cielo Pay app, which includes acquiring, payment account and digital wallet features. The app will be available from Oct. 14 and is the result of a partnership between Cielo and affiliate Cateno Gestão de Contas de Pagamento SA.
* Brazil's benchmark Selic rate is expected to stand at 5.25% at the end of 2020, lower than last month's forecast of 5.50%, O Estado de S. Paulo reported, citing the central bank's latest Focus survey of market expectations. The forecast for the Selic at year-end 2019 was at 5.00%.
* Implementing open banking in Brazil could cost the country's banks several billion reais, Valor Econômico reported. Citing the U.K., one of the most advanced countries in terms of open banking, it said the cost had been equivalent to between 4.8 billion reais and 9.8 billion reais. Brazil's central bank is scheduled to start opening a public consultation on the system in the coming months.
ANDEAN
* Corporación Financiera Colombiana SA will issue bonds for 400.00 billion Colombian pesos, expandable up to 500.00 billion pesos. The bonds will be offered in three tranches in terms of three years, 10 years and 20 years. Each tranche will carry an inflation-tied interest rate: 2.35% for the three-year bonds, 3.15% for the 10-year notes and 4.05% for the 20-year debentures.
* Fitch Ratings revised its outlooks on Ecuador-based Banco Pichincha CA, Banco de la Producción SA and Banco Guayaquil SA to stable from negative following a similar action on the country's sovereign outlook. The rating agency expects Ecuador's more stable operating environment to gradually benefit the banks' potential growth and financial profile.
* Peruvian rural savings bank Caja Rural de Ahorro y Crédito Los Andes SA has approved a capital increase of 48.4 million soles from shareholder contributions, an operation that will boost the entity's total assets by 67%, SEMANAeconómica reported, citing a regulatory filing. Chairman Rosanna Ramos-Velita told the publication that the proceeds of the capital increase would be used to widen the entity's range of digital products and services and expand its rural coverage.
SOUTHERN CONE
* Chile's Sernac consumer defense agency has filed a class action suit against Zurich Santander Seguros Generales Chile SA, demanding that the insurer pay adequate compensation to nearly 19,000 holders of a health insurance policy called "Relief Insurance," who were left without coverage or with less favorable conditions, La Tercera reported. The company advertised the policy as giving cover for up to 99 years, but it later said it would not be renewed and offered policyholders a less favorable alternative.
* Chilean Finance Minister Felipe Larrain announced a $600 million economic stimulus package, saying the funds will be pumped into road construction, subsidized housing, healthcare and water projects through 2020, Reuters reported.
* International Monetary Fund representatives met with Argentine presidential frontrunner Alberto Fernandez, Reuters reported. The IMF described the meeting as "a productive exchange of opinions," but Fernandez's office said that his Frente de Todos political coalition does not share the current government's policy priorities and does not agree with the IMF's recommendations.
* Argentine officials sought to assure a mission from the International Monetary Fund that the government is meeting its fiscal commitments and should receive the next $5.4 billion tranche of its financing program from the IMF as scheduled in September, Clarín reported. The newspaper noted that the government does not have much scope to meet its upcoming debt repayments without the disbursement.
IN OTHER PARTS OF THE WORLD
* Middle East & Africa: Nigeria sets bad-loan limit for banks; South Africa's JSE in 224.5M rand deal
* Europe: LendInvest delays IPO; Deutsche's India expansion; Bank of Cyprus sees H1 profit
Helen Popper contributed to this article.
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