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Fitch affirms BBVA Colombia's ratings on sound profitability

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Fitch affirms BBVA Colombia's ratings on sound profitability

Fitch Ratingson July 18 affirmed Banco Bilbao VizcayaArgentaria Colombia SA's ratings as the bank shows continued strongprofitability.

Fitch maintainedthe bank's long- and short-term foreign and local currency issuer default ratingsat BBB+ and F2, respectively; support rating at 2; viability rating at "bbb"'and national long- and short-term ratings at AAA(col) and F1+(col), respectively.The ratings outlook is stable.

The bank's issuerdefault and national ratings reflect the support it would receive from its parent,Banco Bilbao Viscaya Argentaria, should it be required. BBVA Colombia is considereda strategic subsidiary of its parent in Latin America due to its profitability,growth potential, integration with its parent in terms of franchise, business modeland management, Fitch said.

Furthermore,the affirmation of the bank's ratings are driven by the consistency of its overallsound profitability metrics, due to its strong recurring and diversified revenueand growing lending activities.

Meanwhile, thebank's comparative conservative risk appetite and adequate capital highly influenceits viability rating, Fitch added.