S&P affirms Banco Mercantil

Standard & Poor's said it affirmed the BBB-/A-3 counterparty credit and CD ratings on Banco Mercantil del Norte SA (Banorte).

The outlook is positive.

The ratings reflect the bank's enhanced business profile, its sound asset quality indicators despite important loan growth and good profitability levels, S&P said.

The ratings are constrained by the lending risks the bank faces, the increasing deposit-to-loan ratio, lower-than-peer adjusted capitalization levels and tough competitive environment, the agency said.

© 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.