Latin American Banking: Banks prove resilient to global credit crunch

“Most Latin American banks have been able to pursue their intended growth strategies as the regional economies remain supportive of credit expansion” Celina Vansetti-Hutchins, Moody’s

According to Celina Vansetti-Hutchins, author of a Moody’s report entitled The outlook for Latin American banks, released last month: “The region appears to be more resilient than ever before.” Since the onset of the credit crisis in the US in the summer, several leading international banks have reported huge write-downs and their share prices have suffered sharp falls.