Latin America’s bank performance metrics improved in 2022 across most countries, driven by strong net interest income off the back of rising interest rates. Economic growth also supported lending activity, with regional gross domestic product (GDP) growing by 3.8%, according to the UN Economic Commission for Latin America and the Caribbean.
In 2022, Colombia’s GDP growth reached 7.3%, Mexico expanded by 3%, with Brazil’s GDP growing by 2.9%.
