Kuveyt Turk Katilim Bankasi’s Ratings Affirmed

Kuveyt Turk Katilim Bankasi’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 K uveyt Turk Katilim Bankasi A.S. (KTKB) at ‘B+’ and ‘B’ , respectively. At the same time, CI Ratings has affirmed KTKB’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.

The affirmation of the ratings reflects our assessment of the Bank’s supportive and financially strong parent , Kuwait Finance House (KFH), together with KTKB’s substantial customer deposit base and comparatively low reliance on wholesale funding . The ratings are also supported by the Bank’s rigorous and conservative credit risk management. At the same time, the ratings balance the elevated exposure to…