Türkiye İş Bankasi’s Ratings Affirmed

Ref: TR 0 3 6 2 1 CRA00- 0 1 19 July 2022

Türkiye İş 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 Türkiye İş Bankasi’ (Isbank) at ‘B+’ and ‘B’, respectively. The Outlook for the LT FCR remains Negative. At the same time, CI Ratings has affirmed Isbank’s Bank Standalone Rating (BSR) of ‘b+’ with a Negative Outlook, and Core Financial Strength (CFS) rating of ‘bb+’.

The affirmation of the CFS rating is mainly based on Isbank’s strong and well diversified franchise. The Bank’s domina nt market share in key segments supports its resilient and sound operating and net profitability despite the volatile operating environment. Isbank’s FCRs – on the other hand – remain closely correlated to the sovereign’s…