November 14, 2016 |
Latin American banks have proved resilient despite the region’s economic headwinds, says
Giorgio Trettenero, the secretary general of the region’s banking federation, Felaban, which represents more than 600 financial institutions. He is optimistic 2017 will be a turning point for many Latin American economies, with banks well-positioned to take advantage of a possible economic improvement.
While many Latin American economies have either stalled or contracted, banks have benefitted from strong asset quality, healthy net interest margins and higher profit margins than their counterparts in developed economies. However, weak growth has meant some banks have turned their attention to lower-risk
Latin America’s financial institutions have weathered the tough economic times well. Global regulations and rapidly evolving technology will keep them focused in the years ahead, says the secretary general of the region’s banking federation.