Major Banks Pay Antitrust Settlement; S&P Projects Credit Growth

This week in finance: Six major banks agreed to pay US$86.4 million to resolve an SDNY antitrust lawsuit over the rigging of Mexican government bonds. Meanwhile, S&P projects total bank credit for major commercial banks in Mexico to expand 6-8% in 2026. In other news, Mexico’s mergers and acquisitions market registered a 17% increase in transaction value during 1H26, reaching US$11.578 billion.

More news below:

Major Banks Settle US$86 Million Mexican Bond Antitrust Lawsuit

Mexican banking affiliates of Bank of America, Banco Santander, BBVA, Citigroup, Deutsche Bank, and HSBC agreed to pay US$86.4 million to resolve a long-running antitrust lawsuit in Manhattan federal court over allegations of rigging the market for Mexican government bonds. The preliminary settlement brings the total recovery in the eight-year-old investor class action to US$107.1 million, pending final judicial approval. Court filings submitted late Friday in the US District Court for the Southern District of New York indicate that traders at the defendant banks used private electronic chatrooms to coordinate market strategies, suppress purchasing prices on bonds acquired from primary auctions, and artificially inflate prices on bonds sold to institutional investors. 

Credit For Major Commercial Banks to Grow 6-8% in 2026: S&P

Total bank credit for major commercial banks is set to expand between 6.0% and 8.0% this year due to strong consumer demand, according to an analysis by S&P National Ratings. The rating agency’s Mexican division notes that this growth will allow the country’s G-7 banks to successfully navigate slow growth, external trade uncertainty, and persistent structural constraints. Overall, S&P assessed that the banking system faces a subdued macroeconomic environment, expecting GDP to grow 1.0% this year, followed by a gradual recovery of around 2.0% by 2027.

Mexico M&A Volume Rises 17% YoY in 1H26 to US$11.6 Billion

Mexico’s mergers and acquisitions market registered a 17% increase in transaction value during 1H26, reaching US$11.578 billion, compared to US$9.907 billion in 1H25. The growth in transaction volume reflects a broader corporate strategy of seeking consolidation, market expansion, and long-term value creation despite a challenging economic environment requiring capital discipline.

Coppel Brings 1.6 Million Into Formal Credit System

Grupo Coppel enabled more than 1.6 million people to access formal credit for the first time in 2025 through its financial ecosystem, representing a 27% increase compared to 2024. The Mexican department store and financial services conglomerate disclosed the milestone in its latest sustainability report, highlighting ongoing efforts to promote financial health, build credit histories, and expand credit availability across underserved demographics nationwide.