... are driven by its standalone creditworthiness, as reflected in its `bbb-' viability rating. The ratings consider its strong franchise, still reasonable financial metrics and the challenging Turkish operating environment. Solid Franchise: Akbank is a leading Turkish bank with a 10.6% market share of sector assets at end-1Q16 on a solo basis. It is ranked third by loans and deposits. Its well-established franchise and business underpin its performance and mean that a moderate deterioration in the operating environment should be manageable. The domestic macroeconomic situation has been broadly supportive for sector loan growth and asset quality, but the attempted coup and the authorities' reaction highlight political risks to the sovereign credit profile and economy. Asset Quality Holding Up: Akbank's non-performing loan (NPL) ratio, defined as loans overdue by 90 days (end-1Q16: 2%), is low compared with peer and sector averages. Restructured...
