...Ratings Underpinned by Standalone Performance: Banco Industrial, S.A.'s (Industrial) IDRs are supported by the bank's intrinsic creditworthiness, as captured in its 'bb' Viability Rating (VR), which is consistent with its implied VR. The VR denotes Industrial's solid business profile and strong risk management, as well as its leadership position in Guatemala, which is reflected in its stable financial profile. The Positive Rating Outlook mirrors the outlook for Guatemalan banks' operating environment (OE) assessment and the country's IDR, and reflects Fitch Ratings' expectation that improvements in the OE will enhance Industrial's credit profile, with the bank's solid market position continuing to support its financial performance. Strong Business Profile and Leadership: Industrial's business profile score of 'bb', with a positive outlook, reflects the bank's leading position in Guatemala, with loan and deposit market shares of 29.2% and 26.9%, respectively, as of December 2024. Industrial's...
