...Strong Domestic Franchise: Banco de Credito e Inversiones' (BCI) IDRs are driven by its strong domestic franchise in a more stable operating environment relative to that of its regional peers, along with its sound balance sheet and liquidity management, improved asset quality, wide-based funding sources and relatively high profitability over the past few years. However, its profitability has been pressured in recent years. City National Bank Acquisition: BCI's affirmation considers Fitch Ratings¦ assessment regarding the adequate management of execution risks and impact of the City National Bank (CNB) acquisition in the U.S. on BCI's overall financial strength, as well as the positive financial metrics evolution observed in the recent past. Capital Ratios Recovered: As expected by Fitch, the bank was able to recover its capital ratios after the recent CLP268 billion capital injection (to a Fitch Core Capital [FCC] of 9.4% as of 3Q16). Fitch will continue evaluating the bank's ability to...
