Akbank – Ratings Affirmed ; Outlook Remains Stable

Ref: TR0012 3 CRA00- 0 1 30 April 202 4

Akbank – Ratings Affirmed ; Outlook Remains Stable

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term F oreign Currency Rating ( LT FCR ) and Short-Term Foreign Currency Rating ( ST FCR ) of Akbank at ‘B’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Akbank’s Bank Standalone Rating ( BSR ) of ‘b’, Core Financial Strength ( CFS ) rating of ‘bb+’, and Extraordinary Support Level ( ESL ) of Uncertain. The Outlook for the LT FCR and BSR remains Stable.

The affirmation of the ratings is supported by Akbank’s resilient business model, which continues to generate strong operating and net profitability , the solid capital ratios in 2023 , as well as the Bank’s supportive majority shareholder (Sabanci Holding). Constraining factors include the considerable downward…