Moody's affirms credit ratings and outlooks of six Turkish banks

International credit rating agency Moody's left the credit ratings of İş Bankası, TEB, VakıfBank, Yapı Kredi, DenizBank and Şekerbank unchanged. The long-term deposit rating outlooks were maintained as 'stable'.

Scraper SystemJuly 23, 2026, 11:09 AM

Moody's affirms credit ratings and outlooks of six Turkish banks

International credit rating agency Moody's released its latest credit rating assessment for six leading Turkish banks. The agency made no changes to the credit ratings of İş Bankası, TEB, VakıfBank, Yapı Kredi, DenizBank and Şekerbank, while also affirming their long-term deposit rating outlooks as 'stable'.

İş Bankası's outlook remains stable

Moody's kept Türkiye İş Bankası's deposit rating at Ba3/NP and its outlook as 'stable'. The decision reflects a balance between the expected weakening in the bank's asset quality and profitability, and its strong capital structure and liquidity buffers.

TEB's rating unchanged

Türk Ekonomi Bankası's (TEB) deposit rating was affirmed at Ba2/NP. Moody's stated that TEB's long-term foreign currency counterparty risk rating remains constrained by Turkey's foreign currency country ceiling.

VakıfBank and Yapı Kredi ratings maintained

VakıfBank's deposit rating was affirmed at Ba3/NP, while its Baseline Credit Assessment (BCA) was left at b2. Yapı Kredi's deposit rating was maintained at Ba3/NP, while its long- and short-term national scale deposit and counterparty risk ratings were affirmed at Aaa. Tr/TR-1.

Affirmation for DenizBank and Şekerbank as well

Moody's kept DenizBank's foreign currency deposit rating at Ba2 and its local currency deposit rating at Ba1. It reiterated that foreign currency deposit ratings are constrained by Turkey's foreign currency country ceiling. Şekerbank's deposit rating was affirmed at Ba3/NP, while its national scale deposit and counterparty risk ratings were maintained at Aa2. Tr/TR-1.

Moody's leaves outlooks unchanged

With Moody's latest assessment, no revisions were made to the credit ratings or long-term deposit rating outlooks of the banks in question. The agency stated that the banks' current financial outlook is maintained and the long-term outlook remains 'stable'.

Moody's affirms credit ratings and outlooks of six Turkish banks