Banco da Amazonia S.A.: Update following rating affirmation and outlook change to positive
Our credit view of this issuer reflects its strong profitability, offset by its rapid growth loan portfolio expansion and strategy to expand towards commercial lending.Banco da Amazonia is engaged in commercial banking activities and the provision of financial services in the Amazon region. Operations and services include deposit banking, savings and investment funds, including fixed-yield mutual funds and commodities investment funds; credit extension through loans, rural credit, mortgage financing and relendings of funds from government institutions. As of Dec 31 2007, Co. had R$6,120,400,000 in total assets and R$1,407,983,000 in total deposits. Co. also had 209 services posts, including 104 branches and 91 banking service posts.
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