Fitch Maintains Ratings On Banco Industrial

Ratings agency Fitch has released comments on the absorption of Guatemala’s Banco de Comercio (Bancomer) by Banco Industrial, announced on January 13. On January 12, Guatemala’s banking regulator ordered the suspension of activities of small-sized local bank Bancomer. Fitch Ratings said it is maintaining its current ratings on Banco Industrial but that: “Bancomer could potentially impact BI’s asset quality and earnings over time, as Bancomer’s asset quality is relatively worse than BI’s figures.” Banco Industrial currently carries a long-term foreign and local currency issuer default rating (IDR) of BB.