Fitch might lower Bantrab

Fitch Ratings said it placed Banco de los Trabajadores' (Bantrab) issuer default ratings, viability rating, national ratings and senior debt ratings were placed on Rating Watch Negative due to the potential risks following recent news releases of an ongoing investigation by the Guatemalan authorities of three members of the board of directors for an alleged fraud attempt on the bank's shareholders.

In the agency’s opinion, the level of development and effectiveness of its corporate governance has been tested. This is because Bantrab's government bodies did not take corrective and mitigating measures.

To date, these executives remain in their positions on Bantrab's board of directors and the financial performance and funding profile of the bank have not been affected materially, Fitch said.

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