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Fitch Ratings has affirmed Banco Itaú Corpbanca Colombia S.A.’s (Itaú Colombia) Long-Term Local and Foreign Currency Issuer Default Ratings (IDRs) at ‘BBB-‘. Itaú Colombia established operations in Colombia in 2012 as part of the regional expansion strategy of...

Citibank operations in Colombian include 500,000 customers, 47 branches, and 424 self-service access points in Colombia.

"The record number of sovereign downgrades in 2016 overwhelmingly reflects weaknesses in emerging markets," says Tony Stringer of Fitch Ratings.