2026 Latin America Banking Outlooks
Join Moody's analysts from the LATAM Financial Institutions group as they discuss the banking systems outlook for LATAM countries in 2026.
- Latin American banking systems stand to gain from ongoing macroeconomic stabilization.
- Credit risk remains contained, despite emerging pressures in Brazil and Mexico.
- Strong margins should persist, supported by growth in low-cost deposits and continued efficiency gains.
Speakers
Ceres Lisboa
Associate Managing Director, Financial Institutions
Moody's Ratings
Felipe Carvallo
Senior Vice President, Financial Institutions
Moody’s Ratings
Marcelo De Gruttola
Vice President - Senior Analyst, Financial Institutions Group
Moody's Ratings
Alexandre Albuquerque
Vice President - Senior Analyst, Financial Institutions Group
Moody's Ratings
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Ceres joined Moody’s in 2006 and is the Associate Managing Director - Latin American Banking.
Ceres came from Standard Bank - Brazil, where she was the RegionalCredit Officer for Latin American Financial Institutions. Ceres, a long-time Brazilian bank industry specialist, was also a credit analyst withBank of America’s Trading Group for over six years, and prior to that she worked for ABN AMRO (Brazil) and BankBoston (Brazil) as a credit analyst for the middle market sector. She holds a B.A. degree from Pontificia Universidade Católica - São Paulo and an MBA in Banking from Fundação Getúlio Vargas, Brazil.
Felipe is a Vice President-Senior Credit Officer in the Financial Institutions Group for Moody's. Based in Mexico City, he leads the credit analysis of various financial institutions, including banks, securities firms and finance companies in Mexico, Chile and Peru. Prior to this position, he had similar responsibilities for financial institutions throughout Latin America. Felipe joined Moody's in 2000. He holds an MBA from New York University and received a B.S. in Business Administration from the University of Boston. He speaks fluent Spanish, English and Portuguese
Based in Buenos Aires, Marcelo De Gruttola joined Moody’s Investor Service in 2016 as AVP Analyst of Financial Institutions, focused on Banking and Insurance. Marcelo has a degree in Economics from Universidad de Buenos Aires, after which he attended Masters courses in Finance and Risk Management, and is currently doing an MBA programme in Universidad Torcuato Di Tella. Prior to joining Moody’s, he led the Financial Planning and Analysis team of the Argentine branch of an international insurance company.
Alexandre Albuquerque is a Vice President – Senior Analyst on the Latin American Banking Team, covering a portfolio of financial institutions in Brazil and Uruguay. He is also a backup analyst for Peruvian banks. Alexandre joined Moody’s in 2004 as an Associate Analyst. Prior to joining Moody’s, Alexandre spent four years in the Corporate Finance division of a Brazilian investment bank and, for over two years, was involved in strategy and management consulting with a Brazilian firm. Alexandre holds an MBA from the University of Rochester Simon Graduate School and a Bachelor of Science degree in Economics from Universidade Federal do Rio de Janeiro, Brazil.