Meanwhile, the bank has continued to attract more depositors in Spain, as it benefits from an image of relative stability compared with the country's many deeply troubled regional savings banks.

BBC: Santander profits hit by Spain bad loans

However, a period of relative stability began with Mr Lobo's election and many governments, including the US, proceeded to recognise the Honduran government's legitimacy and re-established the ties cut during the height of the crisis.

BBC: Honduras: Ousted President Manuel Zelaya returns

But unlike the painful memories of 2008 big banks are holding their own (for now) considering the pressures, and at least some of the reason behind the relative stability has to do with: (brace yourselves) recent regulations.

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