Turkiye Finans Katilim Bankasi’s Ratings Affirmed with a Stable Outlook
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 Standalone Rating (BSR) of ‘b’ and Core Financial Strength (CFS) rating of ‘b+’. The Outlook for the LT FCR and BSR remains Stable.
The affirmation of the ratings is mainly due to the Bank’s supportive and financially strong Saudi parent National Commercial Bank (NCB), as well as its sound funding and liquidity position.
The Bank’s BSR is derived from a CFS rating of ‘b+’, reflecting constraints on the Bank’s financial, operational, and business strength as a result of the highly challenging operating environment, which is captured by…