Source - RNS
RNS Number : 0454L
Finansbank A.S.
28 September 2016







Finansbank A.Ş.


Esentepe Mahallesi Büyükdere Caddesi Kristal Kule Binası No:215 Şişli/İstanbul 34395

Investor Relations:

+90 212 318 5207




Announcement regarding the latest rating changes on Finansbank



Following Moody's Investors Service's downgrade of Turkish government's debt rating to Ba1 from Baa3 on 23 September 2016, Moody's concluded its review for downgrade of 17 Turkish financial institutions by downgrading the long-term debt and deposit ratings of 14 entities and confirming the ratings of 3 financial institutions.


The foreign currency long-term debt and local currency deposit ratings of Finansbank were confirmed at Ba1, with a stable outlook. The bank's foreign currency deposit rating was downgraded and is constrained by the sovereign ceiling at Ba2. The BCA was confirmed at ba3.


Moody's stated that the resilience of Finansbank's BCA at the ba3 level is driven by its solid capital ratios and risk-absorption capacity despite a relatively weak asset quality ratios. Moody's expect the bank's profitability to continue on an upward trend, despite the headwinds in the operating environment, given that the recent change in the ownership is likely to benefit its funding costs.


We, hereby, declare that our above statements are in conformity with the principles included in the Capital Markets Board's Communiqué regarding material events (II-15.1), that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.


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