...Support Drives Ratings: The ratings of ING Bank A.S. (INGBT) are driven by support from its 100% owner, ING Bank N.V. (ING, A+/Stable/a+). Fitch Ratings believes support for INGBT from ING would be forthcoming based on its ownership, branding, integration with, and strategic importance to, its parent, and the record of support. The bank's Foreign-Currency (FC) Issuer Default Rating (IDR) is constrained by Turkey's Country Ceiling of `BBB-'. Its Local- Currency IDR also takes into account Turkish country risks. Limited Franchise: INGBT's Viability Rating (VR) reflects its limited franchise (about 2% share of sector assets, deposits and loans at end-2017). Lending is skewed towards the mid- corporate/SME segments (43% of gross loans), with corporate and retail lending each comprising about a quarter of gross loans. Loan growth remained below the sector average in 2017, reflecting the bank's lower risk appetite for FC lending. Reducing FC Lending: FC lending is material (end-2017: 38% of performing...
