Gonzalo Garcia, 45, thought 10 years as a branch manager for Citigroup Inc.’s Banamex unit in Mexico would help qualify him for a loan to start up an herbal medicine business. He was wrong. Banamex, along with two other leading lenders, turned him down.
Concern that Grupo Financiero BBVA Bancomer SA may turn over cash to its Spanish parent has sparked a sell-off in the lender’s bonds that’s making them attractive to ING Groep NV and Aberdeen Asset Management Plc.
The search for the cause of a blast that destroyed three floors of a building at Petroleos Mexicanos’s headquarters and killed at least 34 people entered a fourth day, as investigators toiled ahead of a self-imposed deadline for finding an answer.
Mexico is having the slowest year for domestic corporate bond sales since 2004, spurring underwriters including Citigroup Inc. , Banco Santander SA and BBVA Bancomer SA to slash fees in a “war” for fewer deals.
The International Monetary Fund said it supports measures that would ease the impact of capital flows into Latin America that have caused some of the region’s currencies to climb at the fastest pace in the world.