Turkiye Finans Katilim Bankasi’s Ratings Affirmed

Turkiye Finans Katilim Bankasi’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 Turkiye Finans Katilim Bankasi A.S. (TFKB) at ‘B+’ and ‘B’ , respectively. At the same time, CI Ratings has affirmed TFKB’s Bank Stand a lone Rating ( BSR) and Core Financial Strength ( CFS) rating at ‘b-’ and ‘b+’, respectively. The Outlook for the LT FCR and BSR remains Negative.

The affirmation of the ratings reflects our assessment of the Bank’s supportive and financially strong parent, The Saudi National Bank ( SNB ) , together with TFKB’s sound and innovative franchise as the fourth -largest participation bank in Turkey by total assets in 9M 22, and the improved asset quality and NPF coverage. At the same time, the ratings take into account the …