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Fitch confirmed the highest rating for HSBC Uruguay and raised its Viability Index

Fitch confirmed the highest rating for HSBC Uruguay and raised its Viability Index

The rating agency distinguished the bank with the highest grade for an entity in the country, highlighting its solid performance.

Photo: Freepik

The rating agency Fitch Ratings remained at A- Risk Ratings of Long-Term Issuer Default in Foreign and Local Currency of HSBC Uruguay, resulting in the highest in history for any bank in the country.

At the same time, Fitch raised his Viability Index to bb+, highlighting the strength of HSBC and valuing it as an independent operation from the other franchises and the parent company, by highlighting its improved financial profile, driven mainly by higher profitability metrics and a sustained risk profile.

The entity reached first place among the country’s banks in the ROE indicator (return on equity), with 39.17%. In this way, it was 7.18% above second place. From the bank, they noted that “this strong performance came from all of our client segments, including corporate banking, retail banking and wealth management and treasury activities.”

José Miranda, Manager of Retail Banking at HSBC Uruguay, expressed his “pride” after the confirmation and indicated: “Our commitment is constant and is with excellence, which our clients demand of us.”

“We have the ability to support our clients in meeting their financial objectives in a challenging environment and this has also been noted by a rating agency like Fitch “It’s really positive,” said Miranda, who proposes that the entity become a promoter of economic growth.

The landing of HSBC at the WTC in Montevideo

It is worth remembering that HSBC, which last year placed Mortgage Credit Notes for 15.2 million dollars, began operating in the Montevideo WTC with its new Business Office modality, which involved a disbursement of 1.5 million dollars.

The office has open collaborative spaces, without hours and without offices for managers, with a remodeled comprehensive service from professional teams in multiple segments: Personal Banking, Preferential and Investment Banking, Business Banking, Money Desk and Agribusiness, among others.

Source: Ambito

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