MEXICO CITY (Standard & Poor's) Feb. 14, 2002--Standard & Poor's today affirmed its double-'B' long-term and single-'B' short-term counterparty and CD ratings on Banco Agrfcola, the largest bank in El Salvador, following the release of the bank's strong 2001 results. The bank reported US$32 million net income, up 38% from the results obtained in 2000, reaching a ROA of 1.2%, in line with expectations when the rating was assigned. As anticipated, the dollarization of the economy brought down interest income, but net interest income continued to improve. The bank's improved efficiency also benefited bottom-line results. The loan portfolio showed an increasing trend, although at a slower pace than in recent years. Nonperforming loans (NPLs) as a percentage of gross loans
