Mercantil Wins With Modest Growth

Nov 1, 2002

Banco Mercantil stands head and shoulders above its competitors in one of Latin America's smallest but more turbulent banking markets. Bolivia has been stuck in recession for four years and banks continue to reel from the effects of excessive lending to the construction industry. They also suffered under the mass withdrawal of deposits by panicked clients ahead of presidential elections in August.

Liquidity has since flowed back to...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management