...Banco do Estado do Rio Grande do Sul S.A.'s (Banrisul) advances in loan collections, labor liability management, and loan portfolio rebalancing should gradually support its credit profile, while stronger recurring earnings and capital rebuilding remain key to its rating trajectory. The bank continues to pursue selective lending, prioritizing corporate and small and medium-sized enterprise (SME) exposures and trade finance while limiting growth in agribusiness, and is addressing legacy labor and asset-quality issues--an approach consistent with the strategy underpinning Fitch Ratings' May 2026 annual review. Improved 2Q26 results have yet to confirm a sustained earnings trend, while the renewal of the state payroll agreement has reduced core capital buffers, with recomposition expected to be gradual and reliant on internal capital generation....
