Seker bank ’s Ratings Affirmed

TR02 1 20 CRA00-01 2 2 December 202 2

Seker bank ’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 S ekerbank (SB) at ‘B-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed SB’s Bank Standalone Rating (BSR) of ‘b-’ and raised the Core Financial Strength (CFS) rating to ‘b’ from ‘b-’. The Outlook for the LT FCR and BSR remains Stable.

The upward revision of the CFS is underpinned by the Bank’s improved asset quality and credit risk management, as well as positive trend in operating and net profitability . The latter – in contrast to other Turkish banks – is mostly driven by higher income from its Turkish L ira loan and securities exposure s coupled with improving operating efficiency. The…