Türkiye Garanti Bankasi ’s Ratings Affirmed

Ref: TR 0 33 20 CRA00-1 23 June 2021

Türkiye Garanti Bankasi ’s Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Türkiye Garanti Bankasi (Garanti) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Garanti’s B ank S tandalone R ating (BSR) and C ore F inancial S trength (CFS) rating of ‘b+’ and ‘bb+’, respectively, and E xtraordinary Support L evel (ESL) of Moderate. The Outlook for all ratings remains Stable.

The affirmation of the CFS is based on Garanti’s strong capital position, which provides the Bank with a sound buffer to weather the challenges of the volatile operating environment, as well as its stable funding mix and good liquidity profile. In addition, Garanti has displayed resilient…