Fitch affirms Banco Industrial

Fitch Ratings said it affirmed Banco Industrial, SA's long-term issuer default rating at BB, short-term issuer default rating at B and viability rating at bb.

The outlook is stable.

Similar rating actions were taken on the national ratings of the bank and its subsidiaries.

Fitch said the issuer default ratings are driven by the bank’s intrinsic financial strength as reflected by its viability rating.

The ratings reflect Banco Industrial's local systemic relevance its weaker, albeit improving, capitalization over regional peers. Industrial is the largest bank in Guatemala, with market shares of 27.6% of total loans and 24.8% of total deposits, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.