primary credit analyst magar kouyoumdjian london 44 20 7176 7217 magar_kouyoumdjian standardandpoors com secondary alwin greder 7210 alwin_greder ratingsdirect publication date june 30 2005 bank report turkiye is bankasi as rating bb stable b outstanding s counterparty certificate of deposit history aug 19 2004 oct 21 2003 july 28 apr 17 2001 feb 23 c sept 7 2000 sovereign local currency foreign turkey republic major factors strengths null strong business franchise in wide customer base adequate liquidity and capital strengthening revenues profitability weaknesses high industry economic risks large holdings nonfinancial equity investments asset quality remains vulnerable to systemic shocks although loan continues improve significantly rationale the ratings on based isbank balance risky banking environment with leading commercial position
