Fitch affirms Banco de Brasilia

Fitch Ratings said it affirmed and removed from rating watch negative Banco de Brasilia SA's ratings.

The outlook is stable.

Fitch said it removed the ratings from negative watch following the publication of the bank’s audited financial statements and the conclusion of the forensic audit.

Ernst & Young issued an unqualified opinion on the bank’s financial statements for the period ending on Dec. 31, 2019, while the forensic audit to investigate potential irregularities that could have taken place in the legal, financial, procedural, and information systems and technology areas of the bank over the past six years resulted in no adjustments to accounting balances.

As such, Fitch said it believes that uncertainty related to the potential impact on the bank's overall business and risk profile has been reduced.

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