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 Kuveyt 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 Stable .

The affirmation of the ratings reflects our assessment of the Bank’s supportive and financially strong parent, Kuwait Finance House (KFH). Further supporting factor s are the substantial level of financing-loss reserve (FLR) cover for NPF s , improved operating and net profitability , and the Bank’s strong business franchise. At the same time, the ratings take into account KTKB’s elevated exposure to high-risk Turkish government…