International rating agency Fitch Ratings affirmed Garanti Bank Romania’s long-term IDR at ‘BB-’. Also, the bank`s Viability Rating was affirmed at ‘bb-’.
Fitch praised the Garanti BBVA Romania`s reasonable profitability and asset quality, adequate capitalization and good funding and liquidity, even under the uncertainty that the pandemic has caused in the overall business environment.
“Fitch’s assertion of our ratings, despite the pandemic context, is a confirmation of our solid business strategy, our strength and ability to navigate and even grow in the market”, stated Ufuk Tandoğan, CEO of Garanti BBVA Romania.
About Garanti BBVA
Garanti BBVA Group Romania is composed of Garanti BBVA, Garanti BBVA Leasing (the brand under which Motoractive IFN SA operates), and Garanti BBVA Consumer Finance (the brand under which Ralfi IFN SA operates), which complete the bank’s offer with specific leasing products, as well as consumer loans.
Garanti BBVA Romania is present in Romania since 1998. Over time, the bank has developed a solid client portfolio and extended its digital channels and its range of quality products and services, for all business segments: Retail, SME, and Corporate.
In 2019, Garanti BBVA Romania was declared Superbrand, for the second consecutive year, emerging from a list of over 1,500 brands analyzed by Superbrands Romania.
Moreover, Garanti BBVA was awarded by the prestigious Global Finance magazine for “Best Consumer Digital Bank in Romania”, within the 2020 World’s Best Consumer Digital Banks event, this being the 13th prize that Garanti BBVA received from this reputable publication.
Garanti BBVA Group Romania is held by Garanti BBVA Turkey (TGB), whose majority shareholder is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).