KTKB

AcronymDefinition
KTKBKatedra Teorii Konstrukcji Budowlanych (Polish: Department of Theory of Building Structures)
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Upon the occurrence of a dissolution event or on the maturity of the certificates, the trustee will be entitled to exercise the purchase undertaking and oblige KTKB to purchase the Wakala Assets at an exercise price equal to the aggregate of outstanding face amount of the certificates; all accrued and unpaid periodic distribution amounts (if any); any outstanding amounts repayable in respect of any liquidity facility; and any outstanding Wakala liabilities amount.
Prior to each periodic distribution date, KTKB will pay revenues in respect of the related income period under the Wakala agreement into the relevant transaction account.
The bank will be deemed non-viable when it reaches the point at which either the BRSA determines that its operating license is to be revoked and the bank liquidated, or the rights of KTKB's shareholders, and the management and supervision of the bank, should be transferred to the Savings Deposit Insurance Fund.
The notes are notched down once from KTKB's Long-term IDR of 'BBB' in accordance with Fitch's Global Bank Rating Criteria.
The notching includes one notch from KTKB's Long-term IDR for loss severity but zero notches for non-performance risk.
However, Fitch considers KTKB's intention to support KT Sukuk and its obligations; hence Fitch's rating for the certificates reflects the agency's belief that KTKB would stand behind its respective obligations under the documentation.
In common with the other participation banks, KTKB displays a high cost structure, partly due to its rapid growth.
Given the ten-year vision of KTKB to feature amongst the ten largest banks in the banking sector in Turkey, a growth-oriented strategy is being pursued by the bank.