Fitch Assigns Positive Outlook to Credit Ratings of 9 Turkish Banks

Fitch Revises Credit Rating Outlook for Turkish Banks

The international credit rating agency Fitch Ratings has upgraded the credit rating outlook of 9 Turkish banks from "stable" to "positive." This move coincides with Fitch's recent upgrade of Turkey's credit rating outlook in a similar positive manner.

Banks with Upgraded Credit Rating Outlook

As a result of the assessment, the following banks have had their credit rating outlook updated to "positive":

• Ziraat Bankası
• Türkiye Emlak Katılım Bankası
• Halkbank (HALKB)
• Türk Eximbank
• Türkiye Kalkınma ve Yatırım Bankası (KLNMA)
• Türkiye Sınai Kalkınma Bankası (TSKB)
• VakıfBank (VAKBN)
• Vakıf Katılım
• Ziraat Katılım

Increase in Foreign Reserves and External Vulnerabilities

Fitch emphasized in its statement that the revision in the country's outlook is a reflection of a more than expected increase in foreign reserves since the rating increase in September 2024. This situation represents a decrease in external vulnerabilities, improvements in reserve quality, and a reduction in foreign-currency conditional liabilities.

Positive Trend in the Banking Index

Following Fitch's statements, the Banking Index was trading at 19,386 points, up 4.40% during the day. The BIST 100 Index also rose to 13,764 points, gaining 2.69%, showing a positive trend led by the banking index.

The information provided here does not constitute investment advice. It is important to seek professional consulting before making any investment decisions.