2024-03-15 17:06:16
He Rural Development Bank, SA —Banrural— has featured in Guatemala for leading financial services in the region, providing development opportunities to its clients, as well as convenient, secure and efficient solutions for their banking needs. In 2023 they celebrated having obtained a high rating from Fitch Ratings, recognized credit rating agency. Learn more details!
Banrural validated its solidity with a Fitch Ratings rating
Over the last few years, Banrural has maintained sustainable results in the reports developed by the Fitch Ratings agency. In 2023 the national long-term issuer risk ratings of Banrural and Financiera Rural SA in the category AA (gtm)one of the highest that the institution can receive for banks with Guatemalan capital.
This improvement elevated Banrural from its “Stable” level, rising to “Positive”according to the Fitch Ratings rating scale.
What does Fitch Ratings’ rating mean for Banrural?
Fitch Ratings is dedicated to analyzing and awarding credit ratingswhich reflect the abilities of a financial entity when fulfill your commitments. These scores express the credit risk that each institution may present in the market, according to its solidity as a company and the responsibilities it has demonstrated.
Fitch Ratings’ ratings are based primarily on the type of debt a company may have, as well as its sensitivity to systemic changes. In the case of Banrural, the result obtained at the national level of AA (gtm) expresses a low risk of non-compliance and a high quality investment grade.
How did Banrural achieve its high rating?
Currently, Banrural is the second largest bank in Guatemala and the third largest in Central America. With almost 30 years of experience in the country, it has become a leader in remittance payments. It also has more than Q92 billion in deposits and more than Q109 billion in assets.
It is a bank oriented comprehensive rural development of Guatemala, offering quality financial products and services. It constantly makes tools available to Guatemalans and other clients in the region to safely and quickly meet their needs.
These factors have earned the trust of more than 3.5 million customers, with operations that have been growing continuously.
The Fitch Ratings report highlighted: “Banrural’s ratings are highly influenced by its business profile, marked by its notable market position in Guatemala, and a strong franchise in consumer loans, small and medium-sized businesses (SMEs), microcredits and a broad deposit base.”
This achievement has served as a strong motivation to continue improving their operations, as they became the second bank in the country with the best results in 2023. Find out more by visiting the Banrural website. Batteries then!