International credit rating agency Fitch Ratings has changed the credit rating outlook of nine Turkish banks from “stable” to “positive”.
In a statement by Fitch Ratings, it was reported that the credit rating outlook of nine Turkish banks was changed from “stable” to “positive” and their long-term local and foreign currency credit ratings were confirmed as “BB-“.
In the statement, it was stated that the outlook revision reflects a similar decision to Fitch changing the outlook on Türkiye's credit rating to “positive” last week. “The revision to the country's rating outlook reflects a further reduction in external vulnerabilities, an improvement in the quality of reserves and a reduction in foreign currency contingent liabilities, following a higher-than-expected increase in foreign exchange reserves since the rating increase in September 2024.”
Ziraat Bank, Turkey Real Estate Participation Bank, Halkbank, Turkish Eximbank, Turkey Development and Investment Bank, Turkey Industrial Development Bank, VakıfBank, Vakıf Katılım and Ziraat Katılım.
