Good geographic diversification in Central America Strong market position and franchise value in retail banking, particularly in credit cards Good profitability, with ROA of 3.8% in the past two years Efficiency measures relatively weak for the rating level Modest growth prospects for the main countries in Central America Despite good reported asset quality, there are some risks stemming from the loan portfolio The ratings assigned to BAC International Bank Inc. (BIB) are based on those on Credomatic International Corp. (CIC), which is its main subsidiary, representing most of its assets, loan portfolio, and profits. BIB is a bank incorporated in Panama with two principal wholly owned subsidiaries, BAC International Bank (Grand Cayman) and CIC (BBB-/stable /A-3). BIB is 100% owned
