trending Market Intelligence /marketintelligence/en/news-insights/trending/0RhkBoSYdgV88o7m38GMDA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Fitch places Bancolombia, subsidiaries on Rating Watch Negative

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Fitch places Bancolombia, subsidiaries on Rating Watch Negative

Fitch Ratingson April 28 placed certain international scale ratings of Bancolombia SA and some of its subsidiaries on Rating WatchNegative, including its long-term foreign currency issuer default rating of BBB+.

The placementfollows the release of Bancolombia's latest financial reports showing underperformingcapital metrics.

Affected subsidiariesinclude Bancolombia Panamá SA,Bancolombia Puerto Rico InternacionalInc. and Banistmo SA.

A significantdepreciation of Colombia's currency prompted Fitch to perform a full review of thebank's capital adequacy metrics, which could lead to a possible downgrade of itsratings.

"While[we] expected a slight decline in Bancolombia's capital ratios due to continuedgrowth, the reported ratio declined more than originally expected," Fitch said.However, the bank could post a recovery in its capital ratios through slower growthplans and sustained capital generation, Fitch noted.