|
Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
KUVEYT TURK KATILIM BANKASI A.S. |
|
|
|
|
Registered Office : |
Buyukdere Cad. No:129/1 Esentepe 34394 Istanbul |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
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Date of Incorporation : |
22.11.1988 |
|
|
|
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Com. Reg. No.: |
250489 |
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|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Participation banking. |
|
|
|
|
No. of Employees : |
3.850 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Turkey |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
TURKEY - ECONOMIC OVERVIEW
Turkey's largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment. An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkey's export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market. Several gas pipelines projects also are moving forward to help transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkey's dependence on imported oil and gas to meet 97% of its energy needs. After Turkey experienced a severe financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the country's economic fundamentals and ushered in an era of strong growth - averaging more than 6% annually until 2008. Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkey's well-regulated financial markets and banking system helped the country weather the global financial crisis and GDP rebounded strongly to 8.2% in 2010, as exports returned to normal levels following the recession. Turkey's public sector debt to GDP ratio has fallen to roughly 40%. Continued strong growth has pushed inflation to the 8% level, however, and worsened an already high current account deficit. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit. The stock value of FDI stood at $99 billion at year-end 2011. Inflows have slowed considerably in light of continuing economic turmoil in Europe, the source of much of Turkey's FDI. Further economic and judicial reforms and prospective EU membership are expected to boost Turkey's attractiveness to foreign investors. However, Turkey's relatively high current account deficit, uncertainty related to monetary policy-making, and political turmoil within Turkey's neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence.
Source
: CIA
|
REMARKS |
: |
The address
stated at your inquiry is one of the branch addresses of the bank. |
|
|
||
|
NAME |
: |
KUVEYT TURK
KATILIM BANKASI A.S. |
|
HEAD
OFFICE ADDRESS |
: |
Buyukdere Cad.
No:129/1 Esentepe 34394 Istanbul / Turkey |
|
PHONE
NUMBER |
: |
90-212-354 11
11 |
|
FAX NUMBER
|
: |
90-212-354 12
12 |
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WEB-ADDRESS |
: |
www.kuveytturk.com.tr |
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E-MAIL |
: |
kuveytturk@kuveytturk.com.tr
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TAX NO |
: |
6000026814 |
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REGISTRATION
NUMBER |
: |
250489 |
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REGISTERED
OFFICE |
: |
Istanbul
Chamber of Commerce |
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DATE
ESTABLISHED |
: |
22.11.1988 |
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ESTABLISHMENT
GAZETTE DATE/NO |
: |
25.11.1988/2153 |
|
LEGAL FORM |
: |
Joint Stock
Company |
|
TYPE OF
COMPANY |
: |
Private |
|
REGISTERED
CAPITAL |
: |
1.100.000.000
TL |
||||||||||||||||||||||||
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PAID-IN
CAPITAL |
: |
1.100.000.000
TL |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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BOARD OF
DIRECTORS |
: |
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DIRECTORS |
: |
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BUSINESS
ACTIVITIES |
: |
Participation
banking. The firm has
221 branch offices in Turkey and 1 branch office in abroad. |
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NACE CODE |
: |
J .65.12 |
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SECTOR |
: |
Finance |
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NUMBER OF
EMPLOYEES |
: |
3.850 |
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NET SALES |
: |
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||||||||||||
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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HEAD
OFFICE ADDRESS |
: |
Buyukdere Cad.
No:129/1 Esentepe 34394 Istanbul /
Turkey |
||||||||||||
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SIZE OF
BUSINESS |
: |
Giant |
|
|
||
|
PAYMENT
BEHAVIOUR |
: |
Prompt |
|
General
Financial Position |
Fair |
|
|
Incr. in
producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/
TL |
|
( 2008 ) |
8,11 % |
1,2858 |
1,8876 |
2,3708 |
|
( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
|
( 01.01-30.09.2010) |
6,52 % |
1,5178 |
2,0112 |
2,3426 |
|
( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
|
( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
|
( 01.01-30.09.2012) |
3,34 % |
1,8029 |
2,3233 |
2,8527 |
|
( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
|
|
( 31.12.2009 ) TL Thousand |
( 31.12.2010 ) TL Thousand |
( 31.12.2011 ) TL Thousand |
( 30.09.2012 ) TL Thousand |
|
Cash And Balances With The Central Bank Of Turkey |
867.201 |
1.252.870 |
2.839.937 |
3.576.032 |
|
Financial Assets Where Fair Value Change Is Reflected To Income
Statement (Net) |
9.925 |
32.711 |
87.220 |
80.330 |
|
Banks |
531.395 |
916.359 |
833.440 |
1.698.589 |
|
Money Market Securities |
0 |
0 |
0 |
0 |
|
Financial Assets Available For Sale (Net) |
27 |
4.548 |
6.542 |
140.419 |
|
Loans |
5.005.535 |
6.737.185 |
10.049.331 |
11.007.855 |
|
Loans Under Follow-Up |
0 |
234.342 |
209.428 |
272.802 |
|
Factoring Receivables |
0 |
0 |
0 |
0 |
|
Investments Held To Maturity (Net) |
7.529 |
0 |
0 |
0 |
|
Affiliates (Net) |
32.997 |
57.170 |
83.620 |
75.830 |
|
Subsidiaries (Net) |
16.365 |
0 |
0 |
0 |
|
Joint Ventures (Business Partners) (Net) |
0 |
0 |
0 |
0 |
|
Receivables From Leasing Transactions (Net) |
49.995 |
83.761 |
132.872 |
161.605 |
|
Derivative Financial Assets Held For Hedging |
0 |
0 |
0 |
0 |
|
Fixed Assets (Net) |
133.244 |
148.847 |
358.535 |
391.500 |
|
Intangible Assets [Net] |
8.187 |
13.053 |
26.454 |
38.998 |
|
Real Estates For Investment Purpose (Net) |
16.770 |
16.420 |
0 |
0 |
|
Assets For Tax |
7.719 |
8.471 |
32.827 |
22.326 |
|
Property And Equipment Held For Sale Purpose And Held From Terminated
Operations (Net) |
10.600 |
27.068 |
25.015 |
36.086 |
|
Other Assets |
207.037 |
157.747 |
212.371 |
179.005 |
|
Not Detailed Total Assets |
0 |
0 |
0 |
0 |
|
TOTAL ASSETS |
6.904.526 |
9.690.552 |
14.897.592 |
17.681.377 |
|
LIABILITIES |
6.097.214 |
8.433.867 |
13.459.614 |
16.065.785 |
|
Deposits |
5.358.257 |
7.381.473 |
9.918.327 |
11.895.096 |
|
Derivative Financial Liabilities Held For Trading |
6.231 |
14.300 |
38.265 |
28.135 |
|
Funds Borrowed |
383.681 |
639.405 |
2.129.362 |
2.899.003 |
|
Interbank Money Market |
0 |
0 |
0 |
0 |
|
Marketable Securities Issued (Net) |
0 |
0 |
0 |
0 |
|
Funds |
0 |
0 |
0 |
0 |
|
Miscellaneous Payables |
118.796 |
57.029 |
140.835 |
85.631 |
|
Other External Resources |
112.513 |
223.778 |
392.712 |
329.457 |
|
Factoring Payables |
0 |
0 |
0 |
0 |
|
Leasing Transactions Payables |
3 |
0 |
263.487 |
250.027 |
|
Derivative Financial Liabilities Held For Hedging |
0 |
0 |
0 |
0 |
|
Provisions |
82.831 |
112.219 |
186.262 |
205.098 |
|
Liabilities For Tax |
34.902 |
5.663 |
3.683 |
16.777 |
|
Liabilities For Property And Equipment Held For Sale Purpose And Held
From Terminated Operations |
0 |
0 |
0 |
0 |
|
Subordinated Loans |
0 |
0 |
386.681 |
356.561 |
|
Not Detailed Liabilities |
0 |
0 |
0 |
0 |
|
STOCKHOLDERS' EQUITY |
807.312 |
1.256.685 |
1.437.978 |
1.615.592 |
|
Not Detailed Stockholders' Equity |
0 |
0 |
0 |
0 |
|
Paid-in capital |
500.000 |
850.000 |
950.000 |
1.100.000 |
|
Revaluation Fund |
23.250 |
23.250 |
23.250 |
21.751 |
|
Reserves |
156.929 |
223.787 |
269.686 |
297.423 |
|
Minority Interest |
0 |
0 |
0 |
0 |
|
Accumulated profit/loss |
0 |
0 |
0 |
0 |
|
Net Profit/Loss |
127.133 |
159.648 |
195.042 |
196.418 |
|
TOTAL LIABILITIES AND EQUITY |
6.904.526 |
9.690.552 |
14.897.592 |
17.681.377 |
|
|
(2009) TL
Thousand |
(2010) TL
Thousand |
(2011) TL
Thousand |
(01.01-30.09.2012)
TL Thousand |
|
Interest Income |
668.134 |
698.871 |
965.771 |
952.721 |
|
Interest Expenses |
-320.475 |
-302.814 |
-425.387 |
-440.454 |
|
Net Interest Income/Expenses |
347.659 |
396.057 |
540.384 |
512.267 |
|
Net Fees And Commissions Income/Expenses |
58.116 |
60.350 |
64.705 |
54.340 |
|
Dividend Income |
0 |
0 |
0 |
0 |
|
Trading Profit/Loss (Net) |
80.479 |
63.967 |
99.793 |
74.457 |
|
Other Operating Income |
57.351 |
84.492 |
81.965 |
91.885 |
|
Total Operating Income/Expenses |
543.605 |
604.866 |
786.847 |
732.949 |
|
Provision For Loan Or Other Receivables Losses (-) |
-142.903 |
-116.715 |
-164.658 |
-136.320 |
|
Other Operating Expenses (-) |
-237.025 |
-287.028 |
-376.733 |
-355.025 |
|
Financial Expenses |
0 |
0 |
0 |
0 |
|
Net Operating Profit/Loss |
163.677 |
201.123 |
245.456 |
241.604 |
|
Surplus Written As Gain After Merger |
0 |
0 |
0 |
0 |
|
Profit/Loss From Equity Method Applied Subsidiaries |
0 |
0 |
0 |
0 |
|
Net Monetary Position Gain/Loss |
0 |
0 |
0 |
0 |
|
Profit/Loss Before Taxes From Continuing Operations |
163.677 |
201.123 |
245.456 |
241.604 |
|
Provision For Taxes On Income From Continuing Operations (±) |
-36.544 |
-41.475 |
-50.414 |
-45.186 |
|
Net Profit/Loss From Continuing Operations |
127.133 |
159.648 |
195.042 |
196.418 |
|
Income From Terminated Operations |
0 |
0 |
0 |
0 |
|
Expenses From Terminated Operations (-) |
0 |
0 |
0 |
0 |
|
Profit/Loss Before Taxes From Terminated Operations |
0 |
0 |
0 |
0 |
|
Provision For Taxes On Income From Terminated Operations (±) |
0 |
0 |
0 |
0 |
|
Net Profit/Loss From Terminated Operations |
0 |
0 |
0 |
0 |
|
Net Profit/Loss |
127.133 |
159.648 |
195.042 |
196.418 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
|
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.