07 Nov AllBank receives BBB rating with stable perspective
AllBank, a financial institute part of BOD Financial Group, has been rated in the BBB ranking with stable perspective, made by the Risk assessment company, Pacific Credit Rating (PCR). This rating category evaluates the financial strength of financial institutions and insurance companies in the countries in which this Latin-American assessment society works, with over 20 years of experience in the region.
Víctor Vargas Irausquín, AllBank management board President and BOD Financial Group Chairman, confirmed this recognition involves a greater commitment. “When we created BOD Financial Group where convinced our growing strategy in Latin-America was accurate, and results like this prove it. A good rating from a prestigious company, not just grants us a better market positioning but confirms our growing formula impacts, not only our operations, but the profitability of our shareholders and satisfaction and confidence of our clients”.
“This outcome is the result of hard work on improving each day as a bank, as it was, by mid-year, the America Economía Intelligence ranking positioning as one of the greater growing banks in Center-America”, highlighted Víctor Vargas Iurasquín.
BBB rating, bestowed to AllBank, correspond to those entities counting on a sufficient obligations repayment capability within the agreed terms, whose protection factors fulfil a good financial market functioning in the region.
On his hand, Raul Baltazar, Executive Director and vice-president of AllBAnk management board, and Carlos Arauz, AllBAnk Executive Vice-president and General Manager, expressed their satisfaction on this assessment, which represents a greater financial stability for the institution, its members, shareholders and clients.
“We keep growing as a Financial Group, from each of our banks, and most important is we keep betting on being part of development on each country where we operate. More even than a Holding, we are a big family that understood its value and the importance of joining efforts to become the most solid financial group in Latin-America”, Víctor Vargas Iurasquín concluded.
About Pacific Credit Rating (PCR)
Pacific Credit Rating (PCR) is an independent regional assessment agency, working in eleven countries: Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panamá, Dominican Republic, Ecuador, Peru, Bolivia and Mexico. It relies on 20 years of experience and more than 50 analysts, specialized on the design and production of financing instruments qualified by economic field.