Moody's on July 19 placed 17 Turkish banks on review fordowngrade.
The placement follows a failed coup in Turkey and the subsequent of the country's sovereignrating on review for downgrade.
Through the action the rating agency looks to assess creditcharacteristics of AkbankTAS, Commercial Bank(Q.S.C.)'s Alternatifbank AS, Burgan Bank K.P.S.C.'s , PAO Sberbank of Russia's , 's , 's , 's , , , 's , 's Türkiye GarantiBankasi AS, TürkiyeHalk Bankasi AS, Türkiye Is Bankasi AS and unit ,Türkiye Vakiflar BankasiTAO, Yapi ve KrediBankasi AS and Export Credit Bank of Turkey AS, which saw theirvarious ratings put on the review.
The agency, which acknowledged that the recent events wouldimpact all rated financial institutions to various degrees, said the action wasdriven by risks that could arise from potential weakening in government supportfor the banks. The agency also wants to analyze the impact increases in thecost of funding, reduced profitability, limited capital generation capacity andweakening asset quality could have on the Turkish banks' financials.