Kuveyt Turk Katilim Bankasi’s Ratings Affirmed with a Negative Outlook
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Kuveyt Turk Katilim Bankasi’s Ratings Affirmed with a Negative 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 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 Negative .
The affirmation of the ratings is mainly due to the resilience of the Bank’s financial performance despite the challenging operating environment. Other supporting factors are KTKB’s substantial customer deposit base, comparatively low reliance on wholesale funding, and improving operating income generation capacity. KTKB’s standalone ratings are also underpinned by solid…