Campinas, October 24, 2022 – Fitch reaffirmed on October 21, the issuer rating of BBB+(bra), and the outlook was revised to “positive”, from “stable”.
This event is relevant because it is a recognition of our strategic decisions in terms of growth, profitability and asset quality. Among others, we also see as recent factors influencing this change the continuous diversification of our funding via the issuance of securitized debentures in May and September 2022, as well as BACEN’s approval for reviewing our methodology for for Operational Risk Weighted Assets exposure, enabling more efficient Capital allocation.
The improvement in our ratings expand our access to investors and reduces the Company’s risk perception, which translates into lower funding costs and, consequently, better conditions to expand our profitability and offers to our clients.
Our strategy of being a relationship bank with the expansion of the value added to the client over time has allowed us to increase the share of resilient assets in the credit portfolio, providing sustainable and consistent results, especially in the face of a more challenging macroeconomic environment. “The revision of the Outlook to Positive reflects the continued improvement of the bank’s financial profile, translated by the growing trend in profitability and capitalization, as well as the maintenance of its asset quality,” Fitch Ratings brings in the report.
Click here to read the full report.