Albaraka Türk Katilim Bankasi – Ratings Affirmed with a Stable Outlook

Albaraka Türk Katilim Bankasi – Ratings Affirmed with a Stable Outlook

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 Albaraka Türk Katilim Bankasi A.S. (ATKB) at ‘B-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed ATKB’s Bank Standalone Rating (BSR) and Core Financial Strength (CFS) rating of ‘b-’ and ‘b-’, respectively , and the Extraordinary Support Level (ESL) of Uncertain. The Outlook for the LT FCR and BSR remains Stable.

The affirmation of the BSR and CFS is supported by the Bank’s improved financing asset quality and profitability, and better than peer average liquidity underpinned by a stable customer deposit base. That said, the ratings are constrained by still large borrower concentrations, moderately high exposures to volatile and…