Akbank was founded in 1984 as a privately-owner bank providing financing to local cotton growers. In 1990 Akbank shares began trading on international markets. Nowadays Akbank’s provides products and services in consumer banking, commercial banking, SME banking, corporate banking, private banking, foreign currency exchange, money markets and securities trading, and international banking services.
AKBANK T.A.Ş. is the 4th largest bank in Turkey in terms of total assets. In 2017 its total assets were 316,03 bln TRL, providing the bank with the market share of 10.21%. In 2017 the bank's net income was 6 039,07 mln TRL.
AKBANK T.A.Ş. is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BB+ (speculative). Long-term credit rating assigned to the bank by Moody's is Ba3 (non-investment grade speculative).
AKBANK T.A.Ş. participates in deposit guarantee scheme of Turkey. This scheme covers accounts up to 100 000 TRL per bank per depositor.
foreign currency exchange
money markets and securities trading
AKBANK T.A.Ş. provides products and services in the areas of retail banking, corporate banking, SME banking, private banking, foreign currency exchange, money markets and securities trading, international banking.
|Total Assets (2017)|
|316.03 bln TRL (+15.84%)|
In 2017 total assets of AKBANK T.A.Ş. were 316.03 bln TRL. Growth compared to the previous period (2016) was 15.84%. The evolution of the total assets of AKBANK T.A.Ş. is shown at Chart 1 below.
Chart 1. Total Assets of AKBANK T.A.Ş..
|Net Income (2017)|
|6 039.07 mln TRL (+25.28%)|
In 2017 net income of AKBANK T.A.Ş. was 6 039.07 mln TRL. Growth compared to the previous period (2016) was 25.28%. The evolution of the net income of AKBANK T.A.Ş. is shown at Chart 2 below.
Chart 2. Net Income of AKBANK T.A.Ş..
|BB+ (speculative)||Ba3 (non-investment grade speculative)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. AKBANK T.A.Ş. is rated by Fitch and Moody's.
Credit ratings assigned to AKBANK T.A.Ş. as of May 2018 are shown in details in the following sections.
Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for AKBANK T.A.Ş. it is set to BB+ (speculative), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for AKBANK T.A.Ş. is set to B (speculative short-term credit quality).
|Long-Term Issuer Default Rating||BB+|
|Short-Term Issuer Default Rating||B|
|Support Rating Floor||B+|
Viability rating for AKBANK T.A.Ş. is set to bb+ (speculative fundamental credit quality); support rating is 4 (limited probability of support); support rating floor is B+ (highly speculative).
Long-term rating for AKBANK T.A.Ş. it is set to Ba3 (non-investment grade speculative). Long-term bank deposit rating is Ba3 (non-investment grade speculative). Baseline credit assessment is ba3. Short-term rating is not assigned.
|Long-Term Bank Deposit Rating||Ba3|
|Baseline Credit Assessment||ba3|
Outlook for the ratings of AKBANK T.A.Ş. is set to stable (not likely to change).
|Yes (up to 100 000 TRL per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Turkey are obliged to participate in Turkish deposit guarantee scheme.
In the case of AKBANK T.A.Ş. failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Eligible Depositors||natural persons|
|Covered Accounts||all cash deposit accounts, precious metals accounts|
|Maximum Protected Amount||100 000 TRL|
|Paid In Currency||TRL|
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of AKBANK T.A.Ş. and its components are shown in the table below.
|Bank BIC Code||AKBK|
|Country Code||TR (Turkey)|
Bank Sort Code is a code that uniquely identifies a financial institution within a country. Bank sort codes are usually assigned by National Central Banks and differ from BIC codes.
|Bank Sort Code||0046|