November 1, 2012
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 America that have achieved enviable growth numbers while keeping inflation in check, their banks today are a source of pride and strength. Banks from Chile, Colombia and Peru plan and are achieving regi
Latin banks have come a long way – and today, the contrast with Western lenders could hardly be more stark