Latin Finance - September/October 2009 - 68

sustainable banks survey been affected by the financial crisis. This is fewer but better Brazilian institutions left unlike European and US banks,” says Cox. after a wave of bank M&A show renewed He notes that Deutsche Bank in focus on profit generation. “Banks had to Frankfurt is fighting for lost confidence review their practices in order to attract and that even though its stock price has more investments and clients,” says Cox. more than doubled since April, it is still He adds that they see sustainability far from the peaks. Bradesco meanwhile is as a tool to win market share. But he only about 25% away from all time highs, notes that Brazilian banks are slow to notes Cox. introduce new services and products, Meanwhile, as in previous M&E like environmental or social funds, that have sustainability appeal. “M&E sees this studies, subsidiaries of large networks – for example HSBC and Scotiabank – perform gap as the major challenge for [Brazilian highly unequally. “Santander apparently banks] for the next few years,” says Cox. hasn’t as effectively consolidated their M&E notes that banks in other banks, unlike BBVA, which is concertedly countries, like BCI Chile, highlight working on this,” says Cox. “Many advances in microfinance to underscore multinational corporations are not taking a sustainability agenda. Microcredits in LatAm are understood to have low default the same care with subsidiaries.” M&E notes that sustainability and rates, since they go to small businesses which depend on these credits for survival, governance systems are hard to organize within a network where new banks are and thus take repayment very seriously. acquired and being managed from Spain, M&E sees LatAm banks developing for example. “Big local entities do best,” more consistently versus their developed says Cox. markets counterparts. “Aside from capital In general, M&E stresses the need for coverage measures and increases in the banks to have a corporate governance cost of getting liquidity for smaller banks, reprints ad_halfpage:reprints policy that 5:10 PM Page a LatAm banks haven’t wildly reacted or ad 11/20/07 can help it weather1 storm. It notes the importance of having an executive board which mainly consists of independent directors, policies guaranteeing ownership rights, support from auditing firms and strong discipline in controlling risk. “There must be overlapping governance and control systems ranging from sophisticated IT systems detecting rogue trading to overlapping committees that control the quality of assets on a daily and weekly basis,” say Cox. “A sophisticated ethics system helps to prevent bad things from happening at all levels.” According to M&E, banks should also be able to monetize spending on sustainability. The research firm says they can make returns on investments as diverse as sport sponsorship, governance systems and certifications, and it detects a move by banks to try and quantify this. LF UPDATE > For the complete ranking and more detail on the survey, see www.latinfinance.com Reprints Reprints Reprints REPRINTS Reprints Reprints Reprints A Show your clients how you do business s the leading authority on the financial markets in Latin America, the opinions of LatinFinance are read, and trusted by CEO’s, CFO’s, institutional investors, commercial and investment bankers and government officials throughout the world. Being featured in the pages of LatinFinance is a mark of success for your company, and companies everywhere have recognized that they can increase this exposure through LatinFinance Reprints. With high quality reprints of articles in which you feature, you can show your clients the recognition your company receives from the most prestigious financial publication in the region. To find out more about how LatinFinance Reprints can enhance your marketing and promotional efforts, contact: Arielle Schrader Telephone: +1 305 357 4226 E-mail: aschrader@latinfinance.com 68 LatinFinance Septebmer/October 2009
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Latin Finance - September/October 2009

Table of Contents for the Digital Edition of Latin Finance - September/October 2009

Latin Finance - September/October 2009
Contents
Investment Banking Survey
Who Said That?
OTPP Investment Strategy
Central Bank Scorecards
Brazil Liability Management
Real Estate Equity Resurrected
Structured Finance Forecasts
Grim Outlook. Reform Required
Banorte Seeks to Grow
Peru Spending Hits a Block
BCP Sees Better Days
Caribbean Investment Report
Sustainable Banking
Legal Services Survey
Parting Shot
Latin Finance - September/October 2009 - Latin Finance - September/October 2009
Latin Finance - September/October 2009 - Cover2
Latin Finance - September/October 2009 - Contents
Latin Finance - September/October 2009 - 2
Latin Finance - September/October 2009 - 3
Latin Finance - September/October 2009 - 4
Latin Finance - September/October 2009 - 5
Latin Finance - September/October 2009 - 6
Latin Finance - September/October 2009 - 7
Latin Finance - September/October 2009 - 8
Latin Finance - September/October 2009 - 9
Latin Finance - September/October 2009 - 10
Latin Finance - September/October 2009 - 11
Latin Finance - September/October 2009 - 12
Latin Finance - September/October 2009 - 13
Latin Finance - September/October 2009 - Investment Banking Survey
Latin Finance - September/October 2009 - Who Said That?
Latin Finance - September/October 2009 - 16
Latin Finance - September/October 2009 - 17
Latin Finance - September/October 2009 - 18
Latin Finance - September/October 2009 - 19
Latin Finance - September/October 2009 - 20
Latin Finance - September/October 2009 - 21
Latin Finance - September/October 2009 - 22
Latin Finance - September/October 2009 - OTPP Investment Strategy
Latin Finance - September/October 2009 - 24
Latin Finance - September/October 2009 - 25
Latin Finance - September/October 2009 - Central Bank Scorecards
Latin Finance - September/October 2009 - 27
Latin Finance - September/October 2009 - 28
Latin Finance - September/October 2009 - Brazil Liability Management
Latin Finance - September/October 2009 - Real Estate Equity Resurrected
Latin Finance - September/October 2009 - 31
Latin Finance - September/October 2009 - 32
Latin Finance - September/October 2009 - 33
Latin Finance - September/October 2009 - 34
Latin Finance - September/October 2009 - 35
Latin Finance - September/October 2009 - 36
Latin Finance - September/October 2009 - Structured Finance Forecasts
Latin Finance - September/October 2009 - 38
Latin Finance - September/October 2009 - Grim Outlook. Reform Required
Latin Finance - September/October 2009 - 40
Latin Finance - September/October 2009 - 41
Latin Finance - September/October 2009 - 42
Latin Finance - September/October 2009 - 43
Latin Finance - September/October 2009 - 44
Latin Finance - September/October 2009 - Banorte Seeks to Grow
Latin Finance - September/October 2009 - Peru Spending Hits a Block
Latin Finance - September/October 2009 - 47
Latin Finance - September/October 2009 - 48
Latin Finance - September/October 2009 - 49
Latin Finance - September/October 2009 - BCP Sees Better Days
Latin Finance - September/October 2009 - 51
Latin Finance - September/October 2009 - 52
Latin Finance - September/October 2009 - 53
Latin Finance - September/October 2009 - 54
Latin Finance - September/October 2009 - Caribbean Investment Report
Latin Finance - September/October 2009 - 56
Latin Finance - September/October 2009 - 57
Latin Finance - September/October 2009 - 58
Latin Finance - September/October 2009 - 59
Latin Finance - September/October 2009 - 60
Latin Finance - September/October 2009 - 61
Latin Finance - September/October 2009 - 62
Latin Finance - September/October 2009 - 63
Latin Finance - September/October 2009 - 64
Latin Finance - September/October 2009 - 65
Latin Finance - September/October 2009 - 66
Latin Finance - September/October 2009 - Sustainable Banking
Latin Finance - September/October 2009 - 68
Latin Finance - September/October 2009 - Legal Services Survey
Latin Finance - September/October 2009 - 70
Latin Finance - September/October 2009 - 71
Latin Finance - September/October 2009 - 72
Latin Finance - September/October 2009 - 73
Latin Finance - September/October 2009 - 74
Latin Finance - September/October 2009 - 75
Latin Finance - September/October 2009 - 76
Latin Finance - September/October 2009 - 77
Latin Finance - September/October 2009 - 78
Latin Finance - September/October 2009 - Parting Shot
Latin Finance - September/October 2009 - 80
Latin Finance - September/October 2009 - Cover3
Latin Finance - September/October 2009 - Cover4
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