Banks of the Year 2012: Rates of change

Nov 1, 2012

Latin banks have come a long way – and today, the contrast with Western lenders could hardly be more stark

More than five years since the onset of the financial crisis and the global banking industry remains a pale shadow of its former self. News at the end of October that Swiss bank UBS was to shed 10,000 jobs underscored just how much has changed – and what is yet to come.

Yet while Western lenders struggle with the legacy of the crisis and effects of a tightening regulatory screw, the picture in the western hemisphere could hardly be more different.

For countries in Latin...

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

Jan Dehn, Ashmore Investment Management