...Institutional Support Drives Ratings: Turkland Bank A.S.'s (T-Bank) Issuer Default Ratings (IDRs), Support Rating and National Rating are driven by potential support from entities within the Arab Bank Group (AB Group) that together own 50% of T-Bank. AB Group is led by Arab Bank Plc (ABPlc; BB+/Negative), which owns 33%, and includes Arab Bank Switzerland Ltd (17% stake). The remaining 50% is held by Lebanon's BankMed Sal. The Negative Outlook on the bank's IDRs mirrors that on its parent. Subsidiary in Non-Core Market: T-Bank's Long-Term IDRs are notched twice from ABPlc. Fitch Ratings' view of support is based on AB Group's only 50% ownership, which could limit the likelihood of support. It also reflects T-Bank's non-core jurisdiction relative to its parent's other strategically important subsidiaries and weak performance. The rating also takes into account T-Bank's small size relative to its parent, as well as the record of timely provision of capital and liquidity support from both...
