...VR Drives IDRs: Banco de Bogota, S.A.'s (Bogota) IDRs are driven by its Viability Rating (VR) of `bbb'. Bogota's VR is highly influenced by the operating environment of the jurisdictions where Bogota does business. Additionally, the ratings consider the bank's consistent financial performance, reasonable credit and risk policies, its ample and diversified funding base and its leading franchise. Capitalization remains the bank's main credit weakness relative to international peers (emerging market commercial banks in the `bbb' category). Leading Franchise: Bogota is Colombia's second largest bank by assets (14.3% market share at December 2017). It also has a market share of 14.2% by deposits and 13.0% by gross loans, and it is the largest bank by assets in Central America (9.2% market share). Additionally, the bank's Central American operations contribute to a diversified revenue base, a balanced credit portfolio and critical credit card and retail know-how. Good Asset Quality: Bogota's...
