Fitch ups Banco Industrial do Brasil outlook to positive

Fitch Ratings said it revised the outlook on Banco Industrial do Brasil SA's national long-term rating to positive from stable.

At the same time, the national long- and short-term ratings are affirmed at BBB(bra) and F3(bra), respectively, the agency added, noting that the international support rating is affirmed at 5.

The new outlook reflects Banco Industrial do Brasil's growing business and increased diversification in consignment and SME lending, thanks in part to the currently favorable economic environment, Fitch said.

The ratings also consider Banco Industrial do Brasil's conservative policy in its lending and treasury operations, increasing funding diversification, manageable fixed costs and the good quality of its assets and capitalization compared to its peers, Fitch said.

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