www.ameinfo.com - The rating signifies a positive view of Al Baraka Turk Participation
Bank and its strong financial fundamentals and position in the Turkish
market. The rating reaffirmation is also a confirmation of Al Baraka
Turk Participation Bank's good performance that has been consistent over
the years.
The Chairman of Al Baraka Turk Participation Bank Mr.
Adnan Ahmed Yousif said "The reaffirmation of Al Baraka Turk
Participation Bank's ratings by S&P is a considerable accomplishment
and points to its strength as an institution that has shown significant
flexibility in these times of financial and political uncertainty
across the world.
"Al Baraka Turk Participation Bank's Board
Member & General Manager Fahrettin Yahşi stated "The rating
reaffirmation indicates the success of Al Baraka Turk in pursuing growth
and development in all of its business lines despite the challenging
market conditions both domestic and international." (source)
Al Baraka
Turk Participation Bank, headquartered in Istanbul, is one of the
leading participation banks in Turkey with a total of 134 branches
across the country and total assets of TL 10.76bn ($5.96bn). With more
than a quarter-century of experience in the Turkish market, Al Baraka
Turk Participation Bank is focused on pursuing growth through the
support of its main shareholder Al Baraka Banking Group (ABG), one of
the fastest growing leading financial groups in the Middle East.
Al
Baraka Banking Group is a Bahrain Joint Stock Company Licensed as an
Islamic Wholesale Bank by Central Bank of Bahrain, listed on Bahrain
Bourse and Nasdaq Dubai stock exchanges. It is a leading international
Islamic bank providing its unique services to around one billion people
and with Standard and Poor's investment grade long term counterparty
credit rating of BBB- / A-3 (Short Term). Al Baraka offers retail,
corporate, treasury and investment banking services, strictly in
accordance with the principles of the Islamic Shari'a. The authorized
capital of Al Baraka is $1.5bn, while total equity amounts to about
$1.8bn.
The Group has a wide geographical presence in the form
of subsidiary banking Units and representative offices in fifteen
countries, which in turn provide their services through more than 400
branches. Al Baraka is currently having a strong presence in Jordan,
Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa,
Lebanon, Syria, Indonesia, Libya, Iraq and Saudi Arabia.
The rating signifies a positive view of Al Baraka Turk Participation
Bank and its strong financial fundamentals and position in the Turkish
market. The rating reaffirmation is also a confirmation of Al Baraka
Turk Participation Bank's good performance that has been consistent over
the years.
The Chairman of Al Baraka Turk Participation Bank Mr.
Adnan Ahmed Yousif said "The reaffirmation of Al Baraka Turk
Participation Bank's ratings by S&P is a considerable accomplishment
and points to its strength as an institution that has shown significant
flexibility in these times of financial and political uncertainty
across the world.
"Al Baraka Turk Participation Bank's Board
Member & General Manager Fahrettin Yahşi stated "The rating
reaffirmation indicates the success of Al Baraka Turk in pursuing growth
and development in all of its business lines despite the challenging
market conditions both domestic and international."
Al Baraka
Turk Participation Bank, headquartered in Istanbul, is one of the
leading participation banks in Turkey with a total of 134 branches
across the country and total assets of TL 10.76bn ($5.96bn). With more
than a quarter-century of experience in the Turkish market, Al Baraka
Turk Participation Bank is focused on pursuing growth through the
support of its main shareholder Al Baraka Banking Group (ABG), one of
the fastest growing leading financial groups in the Middle East.
Al
Baraka Banking Group is a Bahrain Joint Stock Company Licensed as an
Islamic Wholesale Bank by Central Bank of Bahrain, listed on Bahrain
Bourse and Nasdaq Dubai stock exchanges. It is a leading international
Islamic bank providing its unique services to around one billion people
and with Standard and Poor's investment grade long term counterparty
credit rating of BBB- / A-3 (Short Term). Al Baraka offers retail,
corporate, treasury and investment banking services, strictly in
accordance with the principles of the Islamic Shari'a. The authorized
capital of Al Baraka is $1.5bn, while total equity amounts to about
$1.8bn.
The Group has a wide geographical presence in the form
of subsidiary banking Units and representative offices in fifteen
countries, which in turn provide their services through more than 400
branches. Al Baraka is currently having a strong presence in Jordan,
Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa,
Lebanon, Syria, Indonesia, Libya, Iraq and Saudi Arabia.
Source: http://www.ameinfo.com/standard-poors-reaffirms-albaraka-turk-participation-309060 - Aug 14, 2012
