Salsa For A New England Bank

First National of Boston is hot in Latin America

Banking in Latin America is not for the fainthearted. Since 1995, more than 30 Brazilian institutions have failed or merged, unable to adapt to the new low-inflation environment. In Argentina, 40 local banks have folded or were forced into mergers as panicky depositors withdrew some $8 billion last year in the wake of Mexico's financial crisis. Most foreign banks, unwilling to hop aboard the region's economic roller coaster, have simply stayed away.

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