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* Banco Nacional de Comercio Exterior SNC Institución de Banca de Desarrollo CEO Francisco González said Mexican President-elect Andrés Manuel López Obrador's proposal to merge the bank with fellow state-run development bank Nacional Financiera SNC Institución de Banca de Desarrollo would have numerous negative consequences, including lower credit ratings for both companies, El Financiero reported. A Bancomext-Nafin merger, which was attempted in 2005 but later shelved, would likely lead to weaker credit demand, the executive said.
* Colombia's Banco de Occidente SA appointed César Prado Villegas as its new president, replacing Efraín Otero Álvarez, La República reported. Otero Álvarez resigned in August after around 23 years as the company's president.
MEXICO AND CENTRAL AMERICA
* Fitch Ratings revised its outlook on Consubanco SA Institución de Banca Múltiple to stable from negative, citing stronger liquidity risk management and an improvement in the bank's profitability in the first half of 2018.
* Mexican insurers are strong enough to weather possible challenges that could come with the government shift following the recent presidential election as well as changes in the country's general macroeconomic conditions, Fitch Ratings said. The rating agency expects moderate growth and sufficient capital and reserves to support Mexico's insurance sector.
* A proposal by Mexican President-elect Andrés Manuel López Obrador to eliminate insurance coverage for high-ranking government officials could have an impact of $2.5 billion on the reserves of Mexico's insurance sector, El Financiero reported, citing analysts from Fitch Ratings. An earlier report said MetLife México SA could lose a 2.71 billion pesos contract with the government if the president-elect follows through...