...Viability Rating Drives Bank Ratings: Banco de Bogota, S.A.'s (Bogota) Viability Rating (VR) is influenced by its business profile, which, in turn, is underpinned by its leading franchise. The bank's ratings also consider its consistent financial performance, reasonable credit and risk policies, as well as its ample and diversified funding base. Challenging Operating Environment: For the remainder of 2024, Fitch Ratings expects the operating environment (OE) for Colombian banks to remain stable yet challenging, due to ongoing global market and political uncertainty. Fitch believes that sustained capitalization, resilient but lower profitability, and adequate reserves provide sufficient resilience for banks to face stress. Leading Franchise: Bogota is Colombia's third-largest bank by assets and deposits, with a 12.7% and 12.6% market share respectively as of 2Q24. It is also the second-largest bank by net income and the third-largest by loans, with market shares of 16.1% and 12.7%, respectively....
