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Fitch affirms Yapi ve Kredi Bankasi
Fitch Ratings said it affirmed Yapi ve Kredi Bankasi AS's long-term foreign-currency issuer default rating at BBB-, long-term local-currency issuer default rating at BBB, short-term local- and foreign-currency issuer default rating at F3 and national long-term rating of AAA(tur).
The outlook is stable.
The ratings reflect the strong potential support, in case of need, from its 81.8% owner Koc Financial Services, a joint venture between UniCredit Bank Austria AG and Koc Holding, Fitch said.
The rating also reflects its strong franchise, particularly in the retail segment, good profitability and improving efficiency, the agency said.
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