Latin America has rebounded after a difficult 2020. In 2021, the region’s gross domestic product (GDP) grew by 6.8% after a 6.5% contraction the previous year, according to the World Bank. Most countries made up for their losses: Brazil’s GDP expanded by 4.6%, Mexico’s by 4.8%, and Argentina’s and Colombia’s by around 10% each.
Brazilian and Mexican banks still occupy the leading positions in The Banker’s ranking of Latin American banks by Tier 1 capital. The ranking, based on 2021 financial results, also sees the top Colombian lenders improve their positions. Bancolombia moves up one place to ninth and Banco Davivienda rises nine places to 18th. The latter added almost 50% to its Tier 1 capital.
