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IRB-Brasil shareholders to decide on IPO in August

Lithium Sector - Production and Supply Outlook

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IRB-Brasil shareholders to decide on IPO in August

* Shareholders of IRB-Brasil Resseguros SA will decide at a meetingscheduled for Aug. 5 whether to proceedwith an IPO for the company in 2016, ValorEconômico reported. The reinsurer canceled the planned offering in Februarydue to adverse market conditions, and there is still no consensus amongshareholders on the move.

MEXICO AND CENTRALAMERICA

* Grupo BAC Credomatic has Rodolfo Tabash Espinach,previously the company's country manager for Panama, to replace ErnestoCastegnaro as the group's CEO, Capitalreported. Castegnaro resigned in July after leading BAC Credomatic for 40 years.

* BanregioGrupo Financiero SAB de CV posted second-quarter netincome of 611 million Mexican pesos, up 40% from the 436 million pesosearned in the year-ago period. The result came as the company's provisions forpossible loan losses fell 68% annually to 36 million pesos.

* The Janus Global Unconstrained Bond Fund, managed bybillionaire Bill Gross, had Mexican inflation-linked notesdue 2025 among its top five holdings at the end of June, Bloomberg Newsreported. Gross had divested all of his Mexican government debt only threemonths ago.

* The largest banks in Mexico believe that central bankBanco de México'scycle of interest rate hikes will have only a limitedimpact on borrowing costs for consumers, El Economista reported. The central bank has raised its benchmarkinterest rate by 100 basis points in less than a year to 4.25% currently.

BRAZIL

* Fitch Ratings assigned long- and short-term foreign and local currencyissuer default ratings of BB and B, respectively, to Banco Regional de Desenvolvimento do Extremo Sul. Theratings reflect the company's importance and strategic role as a developmentbank in the southern region of Brazil and its integration with the economicpolicies of its controlling states.

* Banco Neon CEO Pedro Conrade said the bank received 5,000requests to open an account within 48 hours of launching operations,Infomoney reported. Banco Neon was launched through a partnership betweenBanco Pottencial SAand fintech startup Contro.ly to provide digital banking that targets youngcustomers.

* Brazilian Finance Minister Henrique Meirelles said thecountry will need to hiketaxes if the government is unable to implement structural adjustments toits budget, Bloomberg News reported. "If necessary we will have to raisetaxes temporarily, but only if truly necessary," the minister said in aspeech.

* Deutsche BankAG said in a research note that Brazilian state-run lenderBanco do Brasil SAhas "the most to gain from a potentially less interventionistgovernment" that allows the bank to implement its capitalplan without issuing shares, BNamericas reported. Banco do Brasil"also still trades at a significant discount to private sectorpeers," said Deutsche Bank analyst Tito Labarta.

* Brazilian state development bank said it disbursed 15 billion Brazilian reais of ruralloans during the 2015-2016 agricultural year, up 18% from the previous year.

* Banco SantosSA, which was liquidated in 2005, will distribute 83 millionBrazilian reais to its unsecured creditorsin the second half of September, ValorEconômico reported. The bank's total liabilities are estimated at more than2 billion reais.

* The technical staff at Banco Central do Brasil has decided to continue a strikethat is entering into its third week, ValorEconômico reported. The employees want the government to revise their jobclassifications in a move that would imply a wage hike.

* Brazil's banking industry should be able to increaseoverall lendingby 5% in the first quarter of 2017 depending on what progress the country makesin achieving political and economic stability, Diário Comércio Indústria & Servíços reported, citing industryexperts.

* CaixaEconômica Federal approved a plan to disburse 16 billion Brazilianreais in loans to financethe purchase and construction of homes in Brazil by the end of 2016, O Globo reported.

ANDEAN

* Ecuador is tapping the international market for $1billion in bonds thatyield around 10.75%, Bloomberg News reported, citing "a person familiarwith the matter." The U.S. dollar-denominated notes are due in March 2022.

* The Latin American Reserve Fund, or FLAR, authorized athree-year loan of$482.5 million to Venezuela, Bloomberg News reported. The amount is lower thanthe $1 billion Venezuela was reportedly looking to borrow from the fund toboost its diminishing international reserves.

* BancolombiaSA and First Data, a financial services technology firm, announceda strategic allianceto integrate their digital platforms and improve services for businesses inColombia, Portafolio reported.

* Lending to small and micro enterprises in Peru increased5.9% in June compared to the same month a year ago, La República reported, citing Banco Central de Reserva del Perú.

SOUTHERN CONE

* Bancode Servicios y Transacciones SA appointed Daniel Carlos GowlandSauze as the bank's new head of corporate banking. Gowland Sauze Santiago Gonzalez Pini,who resigned from his position in June.

* Moody's lowered its outlook on the Chilean banking system to negative fromstable as it expects profit levels to narrow amid low copper prices and slowergrowth to negatively impact asset quality. "Chile's weak economic activitywill continue to drag on borrowers' ability to service debts, and on banks'business volumes," said Felipe Carvallo, a vice president and senioranalyst at the rating agency.

* CorpBancaAdministradora General de Fondos SA appointedMarcelo Fatio, Marcello Siniscalchi, José Valencia Rios, Alvaro Wrobbel Maurizand Mauricio Santos Diaz as new directors.

* Itaú ChileAdministradora General de Fondos SA appointedFernando Beyruti, Rogerio Carvalho Braga, Gabriel Amado de Moura, VictorOrellana Angel and Thomas Olivera as new directors.

* Rodrigo Pérez-Mackenna, the president of Chile's pension fundassociation, said there is room for "significant improvements" in thecountry's pension system, but also cautioned against irresponsible proposalsthat could damage the system, DiarioFinanciero reported.The comments follow massive demonstrations in Chile against the current system.

* Tax authorities in Uruguay have asked local banks to shareinformationon clients who have high levels of credit card expenditure in order to detectinconsistencies in the payment of income tax, El País reported.

IN OTHER PARTS OF THEWORLD

* Asia-Pacific: Julius Bär hires 200 managers in Asia; Dai-ichi Life to openCambodian office

* Middle East & Africa:

* Europe: Spotlight on Commerzbank capital cushion; H1 profit tumbles at Man;New UniCredit execs

* North America: Warren, Sanders reiterate calls to break up big banks; EverBankFinancial in advanced talks to be acquired for $19.50 per share

Matthew Crazecontributed to this article.

The Daily Dose has aneditorial deadline of 8 a.m. São Paulo time, and scans news sources publishedin English, Portuguese and Spanish. Some external links may require asubscription.