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The bottom line; crimes and fines

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The bottom line; crimes and fines

S&P Global Market Intelligence presents the week's latest news and trends in Latin American banking.

The bottom line

* Banco Daycoval SA posted an 81.4% yearly jump in second-quarter profit, showing net income of 125.6 million Brazilian reais.

* Banco do Brasil SA posted a 7.2% annual rise in second-quarter net profit, which reached 2.62 billion Brazilian reais.

* Banco Votorantim SA posted net income of 145 million Brazilian reais for the second quarter, up 34.3% from a year ago.

* Grupo Supervielle SA posted net income of 579.7 million Argentine pesos for the second quarter, more than tripling the 167.9 million pesos booked in the second quarter of 2016.

* Banco Macro SA posted a 12% year-over-year rise in its second-quarter profit, showing net income of 2.02 billion Argentine pesos.

* Grupo Financiero Galicia SA posted a 33.5% yearly hike in second-quarter profit, posting net income of 1.84 billion Argentine pesos.

* BBVA Banco Francés SA posted a net loss of about 283.0 million Argentine pesos for the second quarter, from a profit of 963.26 million pesos in the same quarter in 2016.

* Bancolombia SA registered a 10.85% annual decline in its second-quarter 2017 profit, hitting about 653.54 billion Colombian pesos.

* Intercorp Financial Services Inc. reported a 20.8% annual increase in its second-quarter profit, rising to 215.0 million Peruvian soles. Banking subsidiary Banco Internacional del Perú SAA, meanwhile, posted net income of 209.1 million soles compared to 199.8 million soles a year ago.

* Credicorp Ltd. reported net income of 920.2 million Peruvian soles, 5.3% higher year over year. Unit Banco de Crédito del Perú contributed earnings of 721.6 million soles in the quarter, up 25.8% from a year earlier. The subsidiary's results included 85.4 million soles from Mibanco Banco de la Microempresa SA.

Crimes and fines

* Brazil's board of tax appeals, CARF, partially rejected an appeal by Itaú Unibanco Holding SA against fines imposed by the federal tax agency in cases related to payment of taxes by companies of the same group.

* Argentine consumer association ADUC filed a class-action lawsuit against Banco Macro over commissions the bank charges for account maintenance.

* Banco Central de la República Argentina adjusted the fine originally imposed in 2014 on Banco de Valores SA and related parties to 39 million Argentine pesos, representing a 24.12% of the initial amount. The fine was tied to the failure of the entities to submit documentation and noncompliance with anti-money laundering rules.

In other news

* The Argentine government wants the country's banks to grant 150,000 mortgage loans next year, tripling from the 50,000 set to be disbursed in 2017.

* Mibanco signed a partnership deal with Kasnet's agent administrator, Globokas Perú, to give its customers access to the latter's network of more than 6,000 agents.

* Banco Santander (Brasil) SA acquired 70% of São Paulo credit recovery firm Ipanema Credit Management.

* Corporación Financiera de Inversiones SA acquired Nicaragua's Banco ProCredit SA from Germany-based ProCredit Holding AG & Co. KGaA.

Featured this week on S&P Global Market Intelligence

* Chile's mortgage slowdown marks a return to normalcy, experts say: Industry observers characterize the slowdown as more of a "normalization" than indicative of a trend, and note that growth in home loans continues to outpace Chile's broader credit market.

* Best of the Web: Mexico's housing loan providers engage in an interest rate battle; Brazilian companies consider public equity markets amid a rising scrutiny on M&A activities; and the political comeback of Argentina's former president is a bane for Macri's economic plans.

* Hires and Fires: A weekly rundown of executive management, board and other personnel moves at Latin American financial institutions.

* Ratings Roundup: A summary of various ratings actions on Latin American financial institutions and economies.