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Fitch affirms Banco Múltiple Santa Cruz's national ratings

Fitch Ratings on March 31 affirmed the national scale ratings of Banco Múltiple Santa Cruz SA at A-(dom) for the long term, with a stable outlook, and F2(dom) for the short term.

The ratings are based on the bank's medium franchise, with a market share of about 3.0% per assets and a stable business model from a diversified revenue base. The ratings also consider a growth history that often exceeds the internal capital generation, Fitch said.

The bank has a conservative liquidity position, allowing it to maintain a good deposit base. Liquidity indicators also compare favorably with the average of its local peers and the financial system, the rating agency noted.