The most important factor in Latin America’s avoidance of Asia-style problems has been the resilience of its banks. While Asian financial systems cracked under the strain of currency turmoil and capital outflows, Latin American ones held firm. With a past history of volatility, banks have discovered the hard way that cautious lending and strong capital support are essential to survival.
This year’s table, compiled by Fitch IBCA, brings together banks with equity bases ranging from $300 million to over $10 billion.
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