Sekerbank’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 Sekerbank T.A.S. (SB or the Bank) at ‘B’ and ‘B’, respectively. At the same time, CI Ratings has affirmed SB’s Bank Standalone Rating (BSR) of ‘b’, Core Financial Strength (CFS) rating of ‘b’ and Extraordinary Support Level of (ESL) of Uncertain. The Outlook for the LT FCR and BSR remains Stable.

The Bank’s BSR is derived from a CFS rating of ‘b’ and an OPERA of ‘b+’. The affirmation of the BSR and CFS is underpinned by the Bank’s high NPL recovery rates and strengthened loan-loss absorption capacity over recent years, improved profitability (despite some softening in the first nine months of 2024), and sound capital ratios along with adequate funding and liquidity profile. The persisting downside risks to asset quality due to the challenging operating environment in…