Largest bank in Guatemala, and among the leading franchises in Central America; Diversified, large, and stable deposit base that provides ample financial flexibility to withstand the pandemic-related recession; and Strong asset quality metrics, with one of the lowest nonperforming loan (NPL) ratios in Guatemala and Central America. Challenging operating conditions due to the coronavirus outbreak and its effect on Guatemala's economy; and Still high level of dollarization in the loan portfolio. Our stable outlook on Banco Industrial S.A. (Banco Industrial) for the next 12 months mirrors that on Guatemala (foreign currency: BB-/Stable/B), which constrains our rating on the bank. The outlook also incorporates our opinion that Banco Industrial will be one of the most resilient banks in the country when
