Fitch rates Technikabank B-

Fitch Ratings said it

assigned Technikabank a long-term issuer default rating of B-, short-term issuer default rating of B, individual rating of D/E, support rating of 5 and support rating floor of no-floor.

The outlook is stable.

The ratings reflect its small size by international standards, risks inherent in very rapid asset growth, notable borrower concentrations, vulnerable liquidity and potential regulatory risks in light of large volumes of client cash transactions, Fitch said.

However, the agency also acknowledged good profitability and moderate loan impairment levels to date.

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