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 ‘BB-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed KTKB’s Bank Standalone Rating (BSR) of ‘b+’, the Core Financial Strength (CFS) rating of ‘bb-’ and the Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR remains Stable.

The Bank’s BSR is derived from a CFS rating of ‘bb-’ and an Operating Environment Risk Anchor (OPERA) of ‘b+’. The affirmation of the BSR and CFS remains supported by the Bank’s strong business franchise, substantial (albeit reduced) level of financing-loss reserve cover for non-performing financings (NPFs), and sound profitability along with satisfactory capital ratios and a comfortable liquidity profile. The Bank’s association with its supportive and…