Türkiye Finans continues to hold one of the highest credit ratings among Turkish banks. Fitch, the international credit rating agency, confirmed Türkiye Finans' long-term foreign currency credit rating of BBB.
Parallel to confirming Turkey’s national credit rating, Fitch confirmed the credit ratings of seven Turkish banks. Within this context, Türkiye Finans maintained its position among Turkish banks with the highest credit ratings, thanks to its strong capital and asset base.
The Fitch report underlined Türkiye Finans' long-term foreign currency rating as BBB, while its long-term domestic currency rating as BBB+. Both ratings are capped by Turkey's national credit rating. According to this assessment, Türkiye Finans once again took its place among the top rated Turkish Banks.
The Fitch report indicates that strong main shareholder support, namely NCB (A+), the financial strength of the bank, high profitability, and the growth performance are the key factors in preserving Türkiye Finans' BBB credit rating.
Türkiye Finans General Manager, Derya Gürerk, says, "Participation banks have strong growth potential. As Turkey's leading participation bank, Türkiye Finans plays an important role in this growth. Just like in the first two quarters of the year, we ranked first among participation banks in terms of profitability in the third quarter. As of September 2013, our asset size has increased by 32% as compared to the previous year's end, and by 48% compared to September 2012 to reach 23.3 billion TL. While our pre-tax profits were 302.2 million TL, our net profit was 236.8 million TL with the effect of an 8.4% growth compared to the September 2012 term. Through our stable growth performance, we are solidifying our place among Turkish banks with the highest credit rating."