...Stable Funding Structure: Banco de los Trabajadores has stabilized its correspondent banking relationships and improved its funding structure after the corporate governance issues that arose in 2016. The latter is based on term customer deposits that have proved to have a high renovation rate, albeit somewhat concentrated in large public sector institutions and of relatively high cost. Fitch Ratings notes that part of the recovery shown after the decrease of April 2016 is in part due to the good business relationship established by the bank and its depositors. Evolving Corporate Governance: Bantrab is re-organizing itself in order to strengthen its corporate governance, corporate culture, and identity. New members of the board and upper level management have being incorporated and have initiated a series of changes. As of April 2017, material and sustainable results have yet to yield. Fitch believes that the organization has reached a level of sufficient stability and expects improvements...
