Fitch confirms AA rating on Banco Bice

Ratings agency Fitch ratings affirmed its AA rating on bank Banco Bice's long-term deposits with a stable outlook, as well as its N-1 rating on Bice's short-term deposits, the agency said in a report. The rating is based on the bank's improved performance during the last three-year period, with an average ROE of 1.32% compared to 0.72% of the previous three years. The bank has also reacted positively to the drop in profits in its corporate segment with expanded and better-diversified services, according to Fitch. Banco Bice's consumer segment continues to expand, especially in consumer loans and credit cards, though growth rates are lower than expected. To read Fitch's full report on Banco Bice, copy the following address into your browser: http://www.bnamericas.com/rc_search_detail.xsql?id_documento=54164&Tx_idioma=E