Banco Serfinanza obtains the highest AAA rating

Banco Serfinanza received, through the company BRC Ratings – S&P Global SA SCV, the ratification of the AAA and BRC 1+ ratings for the entity. This confirmation reaffirms Banco Serfinanza’s position as a solid financial entity in the country.

The AAA rating, the highest granted by BRC Ratings, reflects Banco Serfinanza’s excellent credit quality and solid ability to meet its financial obligations. In addition, the AAA rating has been maintained for the Ordinary Bonds and AA for the Subordinated Bonds of the Issuance and Placement Program of up to $1.5 trillion.

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“This ratification is a testimony to the strength and solidity of the Bank in a challenging economic environment like the one we have had this year,” commented Francisco García, Treasury Director of Banco Serfinanza. In addition, he added that “it reflects the commitment of all employees nationwide, a sustainable growth strategy and the support of our shareholders.”

According to the Serfinanza bank, among the aspects highlighted by BRC Ratings in its evaluation are:

1. Robust business position: Banco Serfinanza maintains a significant market share in the credit card segment, taking advantage of its strong synergy with Supertiendas and Droguerías Olímpica. In addition, they positively highlight the growth strategy in segments with lower credit risk, such as pension benefits, which promotes diversification by products and is favorable for their business position.

2. Solvency: Its total solvency ratio remains at optimal levels, supported by high-quality capital and the constant support of shareholders.

3. Sustained profitability: continues to demonstrate solid profitability, particularly in the strategic credit card segment. In addition to the above, it stands out that it obtained other non-operating income from sales of written-off portfolio and has made efforts to control its operating expenses.

4. Technological innovation: continues to invest in its technological infrastructure to improve efficiency and customer experience.

The financial establishment said it will continue to focus on strengthening its market position, expanding its customer base and offering innovative financial products and services that meet the needs of its customers.