The global rating agency Standard & Poors (S&P) rated the long-term and short-term debt of the National Commercial Bank with a 'BB-/B' rating, placing both components with a stable outlook.
At the same time, S&P gave the bank a 'BB' rating, for the so-called RCR, an indicator that measures the bank's ability to withstand losses with its own funds in the event of a bankruptcy event, without the need to use taxpayer money.
"The stable outlook reflects our expectations that over the next 12 months, BKT will maintain its good financial performance by maintaining sound asset quality and keeping its capitalization close to current levels," Standard & Poor's said.
S&P may downgrade its ratings for BKT if the bank's financial performance or market position weakens significantly, if asset quality deteriorates significantly below the domestic average in its two main markets, or if its deposit and liquidity positions weaken from current strong levels. Conversely, it may raise the ratings if the economic environment in BKT's main markets becomes more supportive, contributing to healthy business growth, it added.
National Bank is Albania's largest bank with total assets of $6.9 billion (€5.9 billion) as of December 2024. It is wholly owned by the Turkey-based conglomerate Calik Holding, and operates in Kosovo through a local branch.
The BB- rating that S&P has given to the long-term debt of the National Commercial Bank is one notch lower than the rating it has given to the long-term debt of the Albanian government. A month ago, Standard & Poor's confirmed the BB rating for Albania's sovereign debt with a stable outlook.
Editorial
