Burgan Bank Turkey – Ratings Affirmed with a Stable Outlook

Burgan Bank Turkey – 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 Burgan Bank Turkey (BBT) at ‘B’ and ‘B’, respectively. The LT FCR Outlook remains Stable. At the same time, CI Ratings has affirmed BBT’s Bank Standalone Rating ( BSR ) of ‘b-’ with a Stable Outlook, the Core Financial Strength ( CFS ) rating of ‘b+’ , and the Extraordinary Support Level (ESL) of High.

The affirmation of the ratings is supported by the Bank’s improved capital ratios coupled with the moderate government securities exposure . The Bank has s ignificant concentration risk in terms of sector and borrower s and still more moderate operating and net profitability compared to other Turkish banks CI rates not least due to its…