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Weekly Lists
August 31, 2018 www.intellinews.com I Page 28
bne:Banker
Moody’s downgrades Turkish lenders and corporates
Moody's Investors Service has downgraded 18 banks and two fi- nance companies in Turkey, the rating agency announced on August 28. In a separate statement released on the same day, Moody’s
said that it has taken rating actions on 13 non-financial corporates domiciled in the country.
The standalone baseline credit assessments (BCA) of 14 banks were downgraded by one notch, while the BCAs of four banks — Denizbank, Odea Bank, Is Bankasi and TSKB — were downgraded by two notches; the Corporate Family Ratings (CFR) of the two finance companies were downgraded by one notch.
The downgrades primarily reflected a substantial increase in the risk of a downside scenario, where a further negative shift in inves- tor sentiment could lead to a curtailing of wholesale funding.
British High Court Judge Waksman QC has ordered Ilyas Khrapunov, the son-in-law of Kazakh fugitive banker Mukhtar Ablyazov, to pay Kazakhstan's BTA Bank damages of more than $500mn, the bank said. The court ruled that Khrapunov was guilty of conspiring with Ablyazov in order to put funds out of the reach of a freezing order.
Khrapunov is the stepson of Viktor Khrapunov, who was mayor of Kazakhstan’s commercial capital Almaty. His father-in-law Mukhtar Ablyazov, a critic of longtime President Nursultan Nazarbayev, has been living in self-imposed exile in Europe since 2009.
“This ruling from the British High Court is a significant step towards recovering more than $6 billion embezzled by Mr Ablyazov and his co-conspirators,” Kenes Rakishev, the controlling shareholder of BTA Bank, said.
The share of bad loans in the Slovenian banking system in June declined to 4.9% following a decrease to 5.2% in May, according to the new harmonised definition of the European Banking Authority (EBA), the Slovenian central bank announced on August 28.
The bad loans ratio in Slovenia has been declining since 2013, when the country narrowly avoided an international bailout because its banks were overburdened by non-performing loans.
British court finds Kazakh fugitive banker Ablyazov’s son-in-law guilty of conspiring over funds
Bad loans ratio in Slovenia down to 4.9% at end-June