Page 41 - TURKRptFeb20
P. 41
● TSKB
Fitch Ratings rates TSKB at B+/Stable, four notches below investment grade, while Moody’s Investor Services rates it at B3/Negative, six notches below investment grade .
Isbank Group has a 50.92% share in TSKB while state-run Vakifbank controls 8.38% and 38.6% is on free-float on Borsa Istanbul .
TSKB, established in 1950, is Turkey’s 13th largest lender by assets, among a total of 47 local lenders . It had a total asset volume of TRY40bn at end-Q3 2019, which equates to around a 1% share in total Turkish banking industry assets.
● Vakifbank
● Halkbank
Federal prosecutors in New York on January 21 said that Turkey’s Halkbank should pay millions of dollars in fines for its ongoing obstinate failure to respond to a US indictment on Iran sanctions-busting charges.
Third hearing of 'the US vs Halkbank' will be held on February 5.
41 TURKEY Country Report OUTLOOK 2020 www.intellinews.com
