Fitch stabilizes Banreservas, BHD Leon view

Fitch Ratings said it revised the outlook on Banco de Reservas de la Republica Dominicana, Banco de Servicios Multiples (Banreservas) and Banco Multiple BHD Leon, SA to stable from negative and affirmed their issuer default ratings at BB-.

“The revision of the outlook to stable follows Fitch's revision of the Dominican Republic's sovereign rating outlook to stable from negative. Fitch has adjusted its operating environment (OE) assessment for the Dominican banking system to stable from negative as Fitch expects robust economic growth of 11% in 2021, 5.7% in 2022 and 5.3% in 2023 to provide a favorable environment for credit growth and to sustain asset quality and profitability,” the agency said in a press release.

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