Positive Outlook Assigned to Rat ings of Turkish Banks Following Similar Sovereign Action

TR00 12 4 PBK00-01 2 1 June 202 4

Positive Outlook Assigned to Rat ings of Turkish Banks Following Similar Sovereign Action

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on [ number to be inserted later] Turkiye-based banks in light of the recent change in the outlook for Turkiye’s ‘B’ long-term sovereign issuer credit ratings to Positive from Stable. The Outlook on the Bank Standalone Ratings (BSRs) of [number to be inserted later] of these banks has also been revised to Positive from Stable, while the Outlook on the other [number to be inserted later] banks’ BSRs is unchanged.

[Paragraphs identifying other banks redacted until publication]

The rating actions have been prompted by the change in Turkiye’s sovereign ratings to ‘B’/‘B’/Positive (from ‘B’/‘B’/Stable) on 17 May 202 4 (see “ Turkiye – Outlook Revised to Positive; Ratings…