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The downgrades for two of Colombia's largest banks come just weeks after a series of negative ratings actions throughout the nation.

Colombia's troubling current account deficit, external debt, and government deficit have led Fitch to assign the country a negative outlook.

Though Bancolombia's recapitalization plan may yield dividends, "Fitch does not expect capitalization to return to levels reported in 2014 during this period."

Credivalores-Crediservicios SAS, a large consumer lender in Colombia, announced on October 13 the successful closing of a COP $ 270,000 million ($93 million USD) syndicated structured loan with a tenor of 60 months and a revolving availability period of 3 years. This new facility...

Visa users within Grupo Aval’s Banks: Banco Occidente, Banco de Bogotá, Banco AV Villas, and Banco Popular and have an Android or iOS smartphone will be the first to Access Aval Pay, a new digital wallet in Colombia. The platform was developed using technology by Yellow Pepper,...

The strong U.S. dollar, Colombian peso (COP) depreciation and slow growth in Latin American economies are not expected to be serious threats to the credit strengths of Colombia’s largest private banks, says Fitch Ratings. In a strong dollar environment, Colombia’s...

The introduction of IFRS reporting in 2015 for Colombian banks is an improvement in financial disclosure, says Fitch Ratings. A majority of IFRS rules became effective for all Colombian financial institutions on Jan. 1, 2015 and introduced material changes in the treatment of...

Colombia has made significant strides in the shift to electronic payments, but further progress in addressing the informal cash economy, increasing merchant acceptance and consumer adoption is needed to further advance the shift to digital payments in the country, according to a...