... Ratings (IDRs) of T.C. Ziraat Bankasi A.S. (Ziraat) are driven by its broad franchise as the largest bank in Turkey by total assets and still reasonable financial metrics in terms of profitability, asset quality and capitalisation, despite the challenging Turkish operating environment. The ratings also reflect Ziraat's only adequate foreign currency liquidity position. Sovereign Support Underpins Ratings: The IDRs and Support Rating Floor are aligned with the sovereign rating reflecting Fitch Ratings' view of a high probability of support from the government if required based on Ziraat's state ownership, systemic importance and policy role. Broad Franchise: Ziraat's ownership, long history, unique policy role as the sole provider of subsidised loans to agro borrowers, role as the main pensions distributor in Turkey and vast branch network afford it competitive advantages in terms of access to state funding and customer deposits, income diversification...
