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The bottom line; M&A buzz

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The bottom line; M&A buzz

The bottom line

* Banco do Brasil SA beat fourth-quarter 2017 profit estimates, posting net income of about 3.11 billion Brazilian reais for the quarter, or up 222.7% year over year. The bank expects its expanded organic domestic loan portfolio to grow 1% to 4% this year. The conservative credit growth guidance takes into account the likelihood of increased competition, said Banco do Brasil's President, CEO & Director Paulo Caffarelli.

* Banco do Estado do Rio Grande do Sul SA reported net income of 516.4 million reais for the fourth quarter, up from the 165.0 million reais reported for the year-ago period.

* Banco Votorantim SA reported a 31.1% year-over-year boost in its profit for the fourth quarter, reaching 156 million reais.

* Banco Daycoval SA's profit for the fourth quarter declined 19.7% from a year earlier to hit about 130.0 million reais.

* Banco Macro SA recorded a 78% jump in its profit for the fourth quarter, showing net income of 3.01 billion pesos.

* Banco Santander Río SA posted a net profit of about 1.58 billion Argentine pesos for the fourth quarter, down 4.7% from the year-ago period.

* Grupo Supervielle SA's fourth-quarter profit jumped 60.0% from a year earlier as it booked quarterly net income of 851.4 million Argentine pesos.

* Bancolombia SA showed fourth-quarter net income of about 901.90 billion Colombian pesos, down 20.25% year over year.

* Grupo Elektra SAB de CV's fourth-quarter profit fell 69% from a year earlier, coming to 902 million Mexican pesos.

M&A buzz

* Citibank - Colombia SA said its shareholders have approved a recently signed agreement to sell the bank's consumer business and small and medium enterprise operations to Banco Colpatria Multibanca Colpatria SA.

* Banco Central de la República Argentina is looking to expedite the sale of troubled lender Banco Finansur SA before March 9, which is the deadline for the suspension of the financial entity.

* Banco Industrial SA said its board approved the sale of minority stakes in two affiliates held by the bank to Grupo Bind SA.

Rating agencies weigh in

* The addition of four Mexican development banks and three other government-related lenders in the country's 2018 annual financing plan highlights their high strategic importance to the government given their specific roles, Fitch Ratings said.

* Moody's said its negative outlook on Chile's banking sector reflects the government's rising debt burden, which could negatively impact the government's ability to support local lenders, especially if its fiscal position deteriorates further.

In other news

* Banco Nacional de Desenvolvimento Econômico e Social plans to launch its own virtual currency, named "Trubudget," in the next few weeks.

* Caixa Econômica Federal announced to its employees a new voluntary redundancy program as it looks to further cut expenses.

* An audit by the Peruvian comptroller's office on credits granted by Banco Agropecuario revealed irregularities in the said operations, and thus recommends administrative actions against the officials and employees involved.

* Banco del Estado de Chile elevated to the Supreme Court its complaint on the Labor Directorate's decision on the required minimum banking services in case of a strike.

* Scotia Investments Jamaica Ltd. delisted from the Trinidad and Tobago Stock Exchange on Feb. 21.

Featured this week on S&P Global Market Intelligence

* 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.