Banco Agricola S.A.

Overview Key strengths Key risks Sound market position in El Salvador with solid business diversification and revenue stability; and Potential pressures on the bank's asset quality following its growth strategy in the consumer segment. Support from its Colombian-based parent, Bancolombia (BB+/Stable/B) in terms of capital and funding, if needed. A possible deterioration In El Salvador´s rating could damage the banking system, and might pressure the bank´s liquidity; and Stiff competition among banks amid weak investment dynamics. In our opinion, the bank will maintain its leading market position in the consumer and commercial lending sectors, as well as its large presence in retail deposits across the country. The latter will be supported by higher mobility in the country and a still

...We expect Banco Agricola will preserve its leading market share in El Salvador and its solid business diversification, supported by its digital strategy enhancements. In our opinion, the bank will maintain its leading market position in the consumer and commercial lending sectors, as well as its large presence in retail deposits across the country. The latter will be supported by higher mobility in the country and a still robust flow of remittances that will boost Banco...

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