Latin America Financials: Citi’s Daily Statement – 2026.06.22 – Potential Ibovespa Changes; BRB; COL Elections; Insurance Update; ARG Credit Watch

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Latin America Financials: Citi’s Daily Statement – 2026.06.22 – Potential Ibovespa Changes; BRB; COL Elections; Insurance Update; ARG Credit Watch

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22 Jun 2026 08:46:49 ET │ 9 pages

Latin America Financials

Citi’s Daily Statement – 2026.06.22 – Potential Ibovespa Changes;

BRB; COL Elections; Insurance Update; ARG Credit Watch

CITI’S TAKE

Daily report over key topics of LatAm financial companies under Citi’s

coverage.

Gustavo SchrodenACUpcoming Citi Virtual Meetings:

Virtual Meeting with Gentera’s CFO and IRO (June 23 at 12pm ET) +55-11-4009-5858

gustavo.schroden@citi.com

Arnon Shirazi, CFA

B3 Considers Revamping Ibovespa with BDR Inclusion and Charging Fees (Brazil +55-11-4009-7906

Journal, Jun 22) arnon.shirazi@citi.com

B3 is evaluating a major overhaul of the Ibovespa methodology to better reflect

Brazil’s economy, including the possible inclusion of BDRs such as Nubank and Brian Flores, CFA

Mercado Livre, which would broaden exposure beyond domestically listed firms. The +55-11-4009-2842

exchange is also considering charging asset managers for using the index as a luis.brian.flores@citi.com

benchmark, aligning with global practices, to create a more stable revenue stream.

The proposal, still under discussion and subject to public consultation, addresses

longstanding criticism that the index is overly concentrated and backward-looking.

Private Banks Question Guarantees and May Avoid Backing BRB Bailout (Valor, Jun

19)

Private banks in Brazil are resisting participation in a guarantee structure for a

potential R$6.6 billion support operation for BRB, citing concerns over the legal

robustness of the collateral, particularly the use of constitutionally protected

transfers like state and municipal participation funds. While Banco do Brasil is