...Support Drives Ratings: Yapi Kredi Yatirim Menkul Degerler A.S.'s (YK Invest) Issuer Default Ratings (IDRs) are equalised with those of its 99.98% owner, Yapi ve Kredi Bankasi A.S. (YKB). Fitch Ratings views YK Invest as a core subsidiary of YKB and that the probability of support is high, based on YK Invest's integration, common branding and its key role to the wider YKB group. YK Invest represented 1.7% of YKB's consolidated assets at end-1H17. Key Subsidiary: YK Invest provides capital markets products, brokerage, corporate finance, derivatives, leveraged foreign-exchange trading operations and investment advisory services. YK Invest mainly sources its revenues from YKB's client base and benefits from its parent branch network. YK Invest fully consolidates Yapi Kredi Asset Management Company (YKAM, 87% ownership), which contributed 1% of assets and 29% of net profit in 1H17. Top-Tier Player: YK Invest had top three shares by equity and fixed-income transaction volumes in the Turkish...
