Garanti B BVA – Ratings Affirmed

TR 0 33 2 1 CRA00- 0 1 23 June 202 2

Garanti B BVA – 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 Türkiye Garanti Bankasi (Garanti) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Garanti’s Bank Standalone Rating ( BSR ) and Core Financial Strength ( CFS ) rating of ‘b+’ and ‘bb+’, respectively. The Extraordinary Support Level (ESL) of M oderate and Negative Outlook have also been affirmed.

The affirmation of the CFS is based on Garanti’s resilient earnings generation capacity, notwithstanding the volatile interest rate environment in Turkey, its stable funding mix and good liquidity profile , as well as stable asset quality performance despite the end of regulatory forbearance…