May 17, 2022 |
Fitch Ratings has assigned a first-time rating of BBB- with a stable outlook to Banco Ripley, the consumer loan division of Chilean retailer Ripley, saying the lender's business model generates stable profits.
Banco Ripley holds a 3.1% market share in Chile's consumer loans sector and its parent company has a solid position in the retail sector, Fitch said in a report on Monday.
The lender has improved its asset quality in the last two years, supported by "adequate collecting strategies," as the
Rating agency gives Banco Ripley a BBB- on stable profits and good liquidity