From tequila crisis to sunrise; Mexican banks  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 404 no. 8803 (Sep. 2012), page 69-70.
Topik: Banking Industry; Currency Devaluation; Economic Crisis; Corporate Planning; Stock Exchanges; Stock Offerings

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.73 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Mexican banks have historically not been safe places in which to leave money lying around. When they collapsed in 1995, following the devaluation of the peso and the "tequila crisis", bankers in Europe and America shook their heads in disbelief at the irresponsible lending that had gone on. A $50 billion bail-out was rustled up by tutting friends and neighbors. How things have changed. As banks in Europe and America scrabble to meet stricter capital requirements, made necessary by the failures of their own exotic lending practices, Mexico is offering some a lifeline. On September 26th Santander, a Spanish bank, plans to list a quarter of its Mexican subsidiary on stock exchanges in Mexico City and New York. It has already listed subsidiaries in Brazil, Chile and Peru, as well as selling its Colombian unit. These sell-offs have helped to increase its core-capital ratio to 10.1%; the Mexican listing, which is set to raise around $4 billion, will add another half a percentage point. The offering, priced at two times book value, is a better deal than most European or American banks could get for issuing new shares at home. That's because Mexico's banks are very profitable.

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