...Strong Domestic Franchise: Banco de Credito e Inversiones' (BCI) VR and IDRs reflect its strong domestic franchise, sound balance sheet and liquidity management, adequate capital base and credit quality, more diversified funding sources and its stable profitability through the cycle. City National Bank Acquisition: The rating affirmation is also based on Fitch's opinion that the announced acquisition of City National Bank (CNB) is strategically positive for BCI and that it will not deteriorate the bank's overall financial strength. The transaction is pending regulatory approval in the U.S. and is expected to take place during 2H14. Sovereign Support: The upgrade on BCI's support rating and revision for the support rating floor (SFR) are based on Fitch view that BCI is a domestic systemically important financial institution (D-SIFI). Consequently, is a bank for which there is an extremely high probability of external support by the Chilean sovereign. The potential provider of support is...
