...VR drives IDR: Itau CorpBanca Colombia S.A.'s (Itau Colombia) Long-Term Local- and Foreign- Currency IDRs are driven by its `bbb-' Viability Rating (VR). The bank's VR is highly influenced by its company profile and reasonably good financial profile. Itau Colombia's ratings also reflect its tight capital levels, improvements in profitability, sound risk management and strong liquidity position, in line with Colombian market and Basel 3 internal considerations. Regional Expansion: Itau Colombia's operations are part of the regional expansion strategy of its parent, Itau Unibanco Holding (BB/Stable). The bank has continued to work extensively to implement its parent's expansion strategy and business model, which Fitch Ratings considers strategically important in the bank's efforts to consolidate its presence in Colombia. The Colombian franchise has already benefitted from Itau Group's strong risk management culture and adoption of the Itau brand. It should see additional benefits once the...
