Vakiflar Bank Ratings Affirmed with a Stable Outlook

19 June 2026

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 Vakiflar Bankasi T.A.S. (Vakif or the Bank) at ‘BB-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Vakif’s Bank Standalone Rating (BSR) of ‘b+’, Core Financial Strength (CFS) of ‘bb‑’ and Extraordinary Support Level (ESL) of Moderate. The Outlook on the LT FCR and BSR remains Stable.

The affirmation of the BSR (and CFS) reflects the resilience of the Bank’s financial performance (despite the challenging operating environment) and is supported by Vakif’s well-established franchise and market position as the second-largest bank by assets. The ratings are also supported by its reasonably good financial metrics, including solid loan-loss reserve coverage, sound liquidity and funding profile and stable and majority government…