May the Best Banks Win

Oct 1, 2006

LatinFinance staffers picked over two dozen banks across Latin America and the Caribbean as the very best in the business. This is how we chose the winners.

Our Banks of the Year issue has evolved over time. It began by highlighting strong financials at select domestically owned banks in Latin America and the Caribbean. Then, as a growing number of institutions in big markets like Mexico were plucked by multinationals, LatinFinance began acknowledging achievements by the large Spanish banks, for example. This latest edition presents winners based on a comprehensive evaluation of financial reports, while taking into account qualitative factors like strategy.

Although some shortsighted financial market observers argue that all the jewels in the region have been snatched, others note that firms in often-overlooked markets like Central America are ripe for the picking. In fact, now, as ever, the region is a hotbed of M&A activity for the financial sector. Three-quarters of the way through 2006, a quick search of deals on capital markets data provider Dealogic shows a hearty $7 billion in bank acquisitions...

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