Turk Ekonomi Bankasi – Ratings Affirmed

Ref: TR0 26 2 2 CRA00- 0 1 28 July 202 3

Turk Ekonomi Bankasi – 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 Turk Ekonomi Bankasi (TEB) at ‘B’ and ‘B’, respectively. At the same time, CI Ratings has affirmed TEB’s Bank Standalone Rating (BSR) of ‘b’ and Core Financial Strength (CFS) rating of ‘bb-’. The Outlook for the LT FCR and BSR remains Stable.

The affirmation of the ratings is supported by the Bank’s sound and sustainable competitive strength in the corporate and SME segments . This has contributed to high net fee and commission income compared to most peers, as well as its resilient net interest margin ( NIM ) . Although TEB is a medium-sized bank, its key operating income metrics are comparable to, and…