...Robust Franchise: BBVA Banco Continental S.A.'s (BC) viability rating (VR) and issuer default ratings (IDRs) reflect its robust franchise, solid performance, good profitability, high efficiency, good asset quality and ample reserves, wide and low cost deposit base and adequate capital. BC's cautious approach to business and track record of adequate risk management underpin its credit metrics and provide stability amid a less benign operating environment projected during 2015 for Peruvian economy. Strong, Consistent Performance: BC has consistently been among the most profitable banks in the region thanks to its robust growth, resilient margins and benchmark efficiency. In addition, the adroit management of credit risk, which minimizes credit cost, has contributed to a ROAA above 2.5% for the past five years, although with a clear declining trend. Fitch estimates this ratio should remain above 2% considering its strong franchise under a moderate growth scenario. Sound Asset Quality/Reserves:...
