Fitch affirms Banco BBM

Fitch Ratings said it affirmed Banco BBM SA's long- and short-term national ratings at A(bra) and F1(bra), respectively, and its support rating at 5.

The outlook remains stable.

The agency said the affirmation reflects Banco BBM's good historical performance, business development, mainly in credit, to diversify revenue sources and the experience of its executives in the financial market. Many of the bank's executives are partners in the bank, with most of the equity invested in the Banco BBM Financial Group, strengthening their ties and interest in protecting the bank's capital.

The ratings also indicate the profile of an investment bank, whose activities, concentrated in proprietary treasury and lending to large- and medium-sized companies, are likely to be affected at times of greater volatility and competition, Fitch added.

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