Fitch moves Odea outlook to stable

Fitch Ratings said it revised the outlook on Odea Bank AS to stable from negative and affirmed its long-term foreign-currency and local-currency issuer default ratings at B-.

“The outlook revision reflects Fitch's view that risks to the bank's stand-alone credit profile are manageable, given improved profitability and sufficient FC liquidity buffers. Near-term operating environment risks have partly abated following Turkiye's return to a more conventional and consistent policy mix. However, risks remain due to still challenging market conditions, including multiple macroprudential regulations, as well as expected pressures on asset quality amid the higher lira interest rate and slower growth environment,” the agency said in a press release.

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