Fitch Raises Outlooks for BBVA, Santander Units

Fitch has changed the rating outlooks for BBVA Colombia and Banco Santander Chile to stable from negative, it says, following similar moves at the parents. BBVA Colombia (BBB) and Santander Chile (A+) each remain core to their parents’ global business, Fitch says. All of the pair’s regional subsidiaries have generally maintained strong balance sheets and robust performances through the crisis and contributed on average about 25% of their profits since 2010. The subsidiaries should also help shield the banks from softer numbers inside Spain.