Kuwait-Mubasher: Fitch Ratings affirmed Kuwait Finance House-Turkey’s (Kuveyt Turk) long-term foreign currency Issuer Default Ratings (IDRs) at 'BBB', with a ‘Stable’ Outlook.
The bank’s Viability Rating (VR) was affirmed at 'bb-'. Kuveyt Turk is a leader in the participation (Islamic) banking sector in Turkey.
It is worth mentioning that “Turkey has been identified as a strategically important market by both NCB and KFH,” according to Fitch.
Kuveyt Turk accounted for about 26% of KFH's total assets by the end of the first half of 2015.
