Three hundred and fifty-seven products from five issuers and with combined sales of MXN17.3 billion (US$700 million) struck in Mexico in April (March 2020: MXN15.5 billion from 386 products).
Mexican financial institution Monex remained the most prolific issuer in Mexico for the first quarter of 2020 despite a 25.6% drop in product issuance during the same period of last year.
The Mexican subsidiary of Spanish financial institution BBVA announced a 48.3% drop in its net income totaling MXN6.44 billion (US$270m) for the first quarter of 2020 from the same period a year prior.
Banco Santander subsidiary Santander Brasil sailed through the first quarter of 2020 with a considerable growth in net interest income totalling BRL$12.65 billion (US$2.14 billion), a 12.1% jump YoY and a 0.4% increase from the fourth quarter of 2019.
Brazilian financial services platform XP Inc. has reported net revenues of BRL1.7 billion (US$300m) for the first quarter of 2020, an 86% soar from its Q1 19 figure of R$934 million.
One hundred and eight products with an estimate volume of BRL1.4 billion (US$269 million) were issued during the first quarter of 2020 in Brazil.
The Mexican structured retail products market reported a 15-month low in March with sales volumes dropping to MXN15.2 billion (US$637m) after having reached an all-time high of MXN105.4 billion in February.
The first quarter of 2020 wraps up just as the Brazilian Central Bank slashes interest rates.. The move is an emergency measure that has already been made in other countries such as the US and UK in a response to the outbreak of the Covid-19 virus that has rattled financial markets across the world.
The Mexican structured retail products market saw 498 new instruments in February from six different providers and a combined sales volume of MXN86.5 billion (USD4.4 billion).