QNB Finansbank’s Ratings Affirmed

QNB Finansbank’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 QNB Finansbank (QNBF) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed QNBF’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.

One of the key supporting factors for the ratings is the Extraordinary Support Level (ESL) of High, which is based on the financial strength of the Bank’s parent, Qatar National Bank (QNB; ‘AA-’/ ‘A1+’/ Stable) and the willingness and ability of QNB to support its Turkish subsidiary in case of need. While the likelihood of extraordinary support is considered high, QNBF does not fulfil our criteria for being rated above the sovereign given its domestic…