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AmericasNovember 1 2016

Mexico’s banks upbeat despite domestic and foreign volatility

With the US as its top export market and substantial exposure to oil prices, Mexico is precariously placed if the US recovery stalls or the oil price remains low. Despite this, the country’s largest banks are well capitalised and remain optimistic for the future, as Jane Monahan reports.
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Mexico’s banks are feeling the strain of dealing with both local and international challenges, and their future prospects are under debate. In August, while Moody’s lowered its outlook for Mexico’s banking system from 'stable' to 'negative' for the first time in six years, peer Standard & Poor’s continued to hold a 'stable' outlook for the country’s banks.

Both rating agencies, however, have lowered the outlook for the Mexican economy to 'negative' since April as the country has been facing adverse international conditions in the past few years.

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