trending Market Intelligence /marketintelligence/en/news-insights/trending/n3_gZSYH0iQbDkRzoXqkzQ2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

S&P puts Deutsche Bank México on Creditwatch negative

Blog

Banking Essentials Newsletter: May Edition

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on IFRS 9

Blog

Banking Essentials Newsletter: April Edition - Part 2

Blog

The Evolution of Cloud Banking: Successful Implementation & Frameworks


S&P puts Deutsche Bank México on Creditwatch negative

S&P Global Ratings on Feb. 1 put the ratings of Deutsche Bank México SA Institución de Banca Múltiple and its brokerage unit, Deutsche Securities SA de CV Casa de Bolsa, on Creditwatch with negative implications, while affirming both companies' long- and short-term national ratings at mxBBB+ and mxA-2, respectively.

The placement follows a similar action on Investa Bank SA Institución de Banca Múltiple, which reached an agreement to acquire both firms in October 2016. In light of that deal announcement, S&P had placed Deutsche Bank México's ratings on Creditwatch with developing implications in November 2016.

The transaction is expected to close in 2017, subject to regulatory approvals.

S&P reiterated that it will resolve the Creditwatch implications on Deutsche Bank México once local authorities approve the deal and after analyzing the impact of the sale on the bank.

Meanwhile, Deutsche Bank México and its brokerage unit are currently in a weak business position, which reflects the gradual reduction of their operations in Mexico. Even so, their capitalization and profits are very strong and their liquidity and risk position is adequate, S&P noted.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.