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UBS to restructure Mexican ops; Banco Votorantim investing in fintech startups

* UBS Group AG intendsfor its Mexican brokerage unit, UBS Casa de Bolsa, to assume the operations of localbanking subsidiary UBS Bank MéxicoSA Institución de Banca Múltiple UBS Grupo Financiero over the nextyear, Reuters reported, citing an internal memo. Due to the planned restructuring,which is subject to regulatory approval, UBS will not seek to renew its bankinglicense in Mexico, "a person familiar with the matter" told the newswire.

* Banco Votorantim SAis investing an initial 3 million reais in MicrosoftCorp.'s BR Startups fund in a partnership to make jointinvestments in Brazilian financial technology startups, Reuters reported. "We'relooking for startups that have passed the validation and product development stageand need capital to scale up and gain traction in the market," said GabrielFerreira, Banco Votorantim's head of strategy, planning and retail lending.

MEXICO ANDCENTRAL AMERICA

* FitchRatings placed its AA(GTM)national rating on Aseguradora GeneralSA on Rating Watch Negative. The decision is based on the announcedsale agreement of Generali's 51% stake in the insurer, subject to regulatory approval.

* The sevenlargest banks in Mexico, also known as the G-7 banks, are among the financial sectorentities that have the highest riskof exposure to money laundering and terrorism financing, El Economista reported, citing a study by the government's financialintelligence unit.

* Moody's saidthe 25 billion Mexican pesos investment recently announced by Citigroup Inc. for Mexican unit Banco Nacional de México SA will make the subsidiary morecompetitiveby boosting its market position and improving operational efficiency, El Economista reported.

* said it has introducedNear Field Communication technology to help its clients make wireless payments inshops across Mexico, El Economista reported.

* plans to raiseup to 3 billion Mexican pesos by issuing debt on the local stock exchange, El Economista reported, citing CEO Luis Barroso.The company will use the proceeds for its working capital and to generate new business.

BRAZIL

* FitchRatings withdrew 's "higheststandards" asset manager rating due to the business unit's reorganization andthe incorporation of its parent company, HSBCBank Brasil SA - Banco Múltiplo, by Banco Bradesco SA.

* Brazil's lowerhouse of Congress voted 366 to 111 in favor of approvingPresident Michel Temer's proposal to limit increases in public expenditure to theinflation rate, Reuters reported. The measure is still subject to another super-majorityvote in the lower house and two such votes in the Senate.

* Italy-basedAzimut Holding SpA willsoon announce a mergerof its Brazilian subsidiaries, AZ Quest Investimentos Ltda. and AZ Legan Asset ManagementLtda., Reuters reported, citing "two people with direct knowledge of the deal."The merged entity could have approximately 4.3 billion reais in assets under management.

* Prosecutorsin Brazil filed additional corruptioncharges against former President Luiz Inacio Lula da Silva on Oct. 10, Reutersreported. Lula already faces other accusations in a wide-ranging corruption investigationat state-run oil firm Petrobras.

* Both the Brazilianreal and the country's benchmark Ibovespa equities index have turned in strong performancesso far in 2016, and many analysts believe Brazil is poised for more gainsas the new government implements economic reforms, the Financial Times reported. "Brazil is the most promising marketin Latin America right now, more so than Argentina, given the low valuations andthe policy direction," said Walter Molano of BCP Securities.

* UBS GroupAG has partnered with real estate consultancy Real Estate Capital to cater to risingdemand among institutional investors for opportunities in the Brazilian real estatemarket, Reuters reported. The partnershipwill mainly target investments in the cities of Rio de Janeiro and São Paulo.

* appointed Victor Schabbel,a former analyst at Credit SuisseGroup AG, as its new head of investor relations, Valor Econômico reported. Schabbel replacesRoberta Noronha, who has left the Brazilian credit and debit card operator.

* Ronaldo Cury,vice president of public housing at São Paulo's construction industry association,said the recent announcement that CaixaEconômica Federal has 34 billion reais available for mortgage loansfor the rest of 2016 is not enough to jump-start activityin the housing sector, Valor Econômicoreported. According to Cury, the government must also lower interest rates in orderto boost demand for the loans.

* The totalvolumeof deals in Brazil's capital markets reached 42.98 billion reais in the third quarter,more than double the volume in the year-ago period, Valor Econômico reported, citing data from financial and capital marketsassociation Anbima.

ANDEAN

* TheColombian government will begin peacetalks with the National Liberation Army, the second-largest rebel group in thecountry after FARC, on Oct. 27, Reuters reported. The talks come after Colombiansvoted to reject a peace deal the government had reached with FARC rebels.

* CitigroupInc. is expected to sellits Colombian retail banking business to a bank that is already established in thecountry, such as Banco DaviviendaSA, Banco GNB SudamerisSA, Banco Colpatria MultibancaColpatria SA and BancoCorpBanca Colombia SA, Portafolioreported. Citi has already announced deals to sell its retail operations in Braziland Argentina.

* Peruvian insurerLa Positiva Seguros y Reaseguros SAexpects to issue 15,000 agricultural insurance policiesfor small and medium-scale farmers in the country during 2016, up 20% from 2015,Gestión reported.

SOUTHERNCONE

* Felipe Carvallo, a vice president and senior analyst at Moody's, said2016 could be the worst year for Chile's banking sector in recent history due toa deterioratingoperating environment, worsening asset quality and pressure on profitability, Diario Financiero reported. The rating agencyexpects loan delinquencies in the sector to rise to more than 2.6% in the next 12to 18 months from 1.6% in June.

* Bank lendingto the manufacturing sector in Uruguay increased 6.8% in the 12 months through August,while financing for the services sector jumped 11.4% in the same period, El Observador reported, citing central bankdata.

IN OTHERPARTS OF THE WORLD

* Asia-Pacific:India to restructure 300B rupees ofloans; China to swap bad debt for equity

* Middle East& Africa: QNB posts Q3 result;Kenyan bank gets CEO; Moza Banco future on table

* Europe:

Matthew Crazecontributed to this article.

The DailyDose has an editorial deadline of 8:00 a.m. São Paulo time, and scans news sourcespublished in English, Portuguese and Spanish. Some external links may require asubscription.