JCR confirms ratings on Albanian bank BKT, outlook stable.

By bne IntelliNews April 18, 2011
Credit rating company JCR Eurasia Rating has confirmed its BB+ for foreign and BB for local currency long-term international ratings on Albanian bank Banka Kombetare Tregtare (BKT), the agency said on its website. JCR affirmed the B international grade on short-term foreign and local currency rating. The agency also confirmed the long-term national local rating at AAA (Alb), which is the highest investment grade. All of the ratings carry a stable outlook. BKT has achieved growth beyond that of Albanian banking sector in terms of performance indicators, the agency said in the statement. In terms of loan portfolio quality, BKTs total non-performing loans remained considerably below the sector average. We remind that international credit rating agency Moodys assigned in January a B1/Not Prime local-currency deposit ratings and a B2/Not Prime foreign-currency deposit rating on BKT. BKT is Albanias second-largest lender in terms of assets, preceded only by Austrian Raiffeisen Bank. BKT doubled its net profit to USD 12.7mn in the first half of 2010. JCR Eurasia Rating is an affiliate of Japan Credit Rating Agency (JCR).
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