MercoPress. South Atlantic News Agency

Latinamerican banks meet in Punta del Este to analyze post-crisis opportunities

A view of Punta del Este and the Conrad complex seat of the event

More than 1500 participants from the banking world are expected to attend the November assembly of the Latinamerican Federation of banks, Felaban, to be held in Punta del Este, Uruguay.

The traditional reunion convenes bank representatives from all over Latin America, as well as important financial institutions from the United States, Canada, Europe and Asia.

”We hope that the 44th Assembly in Punta del Este becomes as usual a most valuable occasion to exchange opinions, implement projects and business dealings, as well as strengthening links in the industry”, said Felaban president Ricardo Marino.

Participants will be discussing lessons from the financial crisis and how the Latinamerican banking and financial system coped with the situation, becoming a decisive instrument for the recovery.

“Latinamerican banking has a solid situation with its own financing sources and doors open to the international financial markets”, pointed out Marino adding that “emerging economies endured the financial turbulence much better than expected given previous experiences, and now enjoy a better position in the road to a solid recovery”.

The assembly is also expected to discuss issues that directly influence other economies and the development of Latinamerica such as economic and financial challenges, particularly the role played by Latinamerica in the resumption of global growth, plus regional and world economic prospects.

“One of the challenges for Felaban is how to effectively implement a greater bank access to the overall population. Currently only 36% of Latinamerican families have access to banking services. In the US for example it is 91%”, indicated Marino.