Albarka Türk’s Ratings Affirmed; Outlook Revised to Stable

Albarka Türk’s Ratings Affirmed; Outlook Revised to Stable

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on the L ong- T erm Foreign Currency Rating (LT FCR) and B ank S tandalone R ating (BSR) of Albaraka Türk Katılım Bankası A.Ş. (ATKB) to Stable from Negative. At the same time, the Bank’s LT FCR and S hort-Term Foreign Currency Rating (ST FCR ) were affirmed at ‘B’ and ‘B’, respectively. The Bank’s BSR of ‘b’ and C ore F inancial S trength (CFS) rating of ‘b’ were also affirmed.

The revision of the Bank’s Outlook and affirmation of the ratings is due to the equity increase which occurred in December 2019, and the introduction of a rating-based underwriting and monitoring system which partly addresses our concerns relating to ATKB’s asset quality.

The E xtraordinary S upport L evel (ESL) is Uncertain. While ordinary…