Turk Ekonomi Bankasi – Ratings Affirmed
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Summary
Ref: TR0 26 2 3 CRA00- 0 1 1 4 August 202 4
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’ , Core Financial Strength (CFS) rating of ‘bb-’ and Extraordinary Support Level (ESL) of Moderate . The Outlook for the LT FCR is maintained at Positive w hile the Outlook for the BSR affirmed at Stable .
The affirmation of the ratings is supported by the Bank’s resilient financial performance despite some softening in profitability in recent periods. Although the ESL is Moderate, at present the LT FCR does not benefit from an uplift for extraordinary support from…