Akbank’s Ratings Affirmed

Ref: TR0012 1 CRA00- 0 1 29 April 202 2

Akbank’s Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign 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+’ and Core Financial Strength (CFS) rating of ‘bb+’ . The Outlook for the LT FCR and BSR remains Negative.

Akbank’s BSR is derived from CFS rating of ‘bb+’, reflecting the Bank’s moderate intrinsic financial, operational and business strength, and an Operating Environment Risk Anchor (OPERA) of ‘b-’ which reflects high external liquidity risks due to low external reserve buffers and the high short-term external debt of banks and non-financial corporations. OPERA takes into account…