Fitch Ratings affirms Credifinanciera’s rating ‘AA-(col)’, outlook stable

Fitch Ratings affirmed Banco Credifinanciera’s long-term and short-term national ratings of ‘AA-(col)’ and ‘F1+(col)’ respectively. The rating agency highlighted its nature as a niche financial institution, emphasizing a focus on: free and microcredit markets This reflects its continued double-digit growth in recent years.

Fitch assessed the credit risk of the payroll loan segment as relatively low, noting that the bank has robust grant policies and its concentration in the retirees and government workers segment allows it to withstand operating in a challenging environment. most difficult operation.

According to the rating agency, Credifinanciera has a “stable and adequate funding profile”, given that the portfolio is predominantly funded by an average of 318-days-average certificates of deposit (CDT).

“These positive ratings allow us to strengthen the confidence of our investors and customers. This rating reaffirms the excellent quality of the institution’s portfolio and commits us to continue working among the country’s financial institutions to maintain a portfolio with a controlled risk profile with better quality indicators and to advance the commitment to bring financial solutions to this segment. Percentage of Colombian population with efficiency, close service and coverage”, underlines Danilo Morales, president of Banco Credifinanciera.

In addition to the above, the credit rating agency estimates the quality of Credifinanciera’s historical portfolio as good, with 30-day overdue portfolio coverage of 162% as of December 2021, similar to that of the financial system on the same date. (166%).

Source: Lare Publica

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