IslamicFinance.de

Islamic International Rating Agency (IIRA) has reaffirmed the ratings of Kuveyt Turk Participation Bank (KTPB) at "AA(tr)/A1+(tr)" on the national scale. Ratings on the international scale have also been reaffirmed, with foreign currency rating at "BBB-/A3" and the local currency rating at "BBB/A3". Outlook on the assigned ratings is "Stable". Ratings of KTPB are underpinned by its strong institutional ownership, which is led by Kuwait Finance House. The impact of regional instability on Turkey’s banking industry has been manageable so far. However, the industry may face challenges in the coming periods.