Fitch affirms Finansbank

Fitch Ratings said it affirmed Finansbank AS's long-term foreign-currency issuer default rating at BB, long-term local-currency issuer default rating at BBB-, short-term foreign-currency issuer default rating at B, short-term local-currency issuer default rating at F3 and national long-term rating at AAA(tur).

The outlook is stable.

The ratings reflect the expansion of Finansbank's franchise to take advantage of the buoyant credit demand in Turkey, Fitch said. The loan book is well-diversified and asset quality remains good despite rapid growth, supported by continued investment in risk management tools and procedures, the agency said.

On the other hand, Fitch said it warns against the risks of continued rapid loan growth, especially given Turkey's volatile operating environment.

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