AikBank a.d. Beograd (AikBank) is a domestic universal bank with a corporate focus and a 10% market share in Serbia, and is a core group member of AikGroup (CY) Ltd., which supports its credit profile. While we acknowledge sound growth, we think AikBank's customer franchise and earnings profile are weaker than those of leading domestic banks. We assigned our'BB+/B'long-and short-term issuer credit ratings and our'BBB/A-2'long-and short-term resolution counterparty ratings to AikBank. The stable outlook reflects our expectation that AikBank's earnings and asset quality profile will remain stable over the next 12 months and that it will remain a core subsidiary of AikGroup. On Oct. 28, 2026, S&P Global Ratings assigned its'BB+/B'long- and short-term issuer
