Seker bank ’s Ratings Affirmed ; Outlook Revised to Stable

TR02 1 20 CRA00-01 23 December 202 1

Seker bank ’s Ratings Affirmed ; Outlook Revised to Stable

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised t he Outlook on the Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) of Sekerbank (SB) to Stable from Negative. At the same time, CI Ratings has affirmed the Bank’s LT FCR and Short-Term Foreign Currency Rating ( ST FCR ) at ‘B-’ and ‘B’, respectively. SB’s BSR of ‘b-’ and C ore F inancial S trength (CFS) rating of ‘b-’ have also been affirmed.

The revision of the Outlook to Stable is mostly due to the Bank’s improved credit risk management and collection rates. The affirmat ion of the ratings balances SB’s sound niche franchise, which results in a solid income generation capacity and a high share of granular and stable retail deposits, against the subdued net…