Fitch Ratings has upgraded Garanti BBVA Romania`s (GBR) Outlook to Stable from Negative and affirmed its ratings. As such, the bank`s Long-Term Issuer Default Rating (IDR) was affirmed to ‘BB-‘ and its Viability Rating (VR) at ‘bb-‘.
Fitch pointed out that the revision of the Garanti BBVA Romania`s Outlook was influenced by several factors, including an improved capitalisation, and a stable funding and liquidity position over the first semester of 2021 and expects to have continued into the second semester of the year and to extend in 2022.
Fitch’s Viability Rating reflects the bank’s solid capitalization and profitability, improved asset quality and good funding and liquidity. Garanti BBVA Romania provides a universal banking offering to retail, SME and corporate customers.
About Garanti BBVA Romania
Garanti BBVA Romania is a universal bank, with a customer-oriented strategy and a strong emphasis on digitalization and sustainability. Present in Romania since 1998, Garanti BBVA focuses on growth and portfolio quality, and today is one of the healthiest financial institutions on the local market. The bank enjoys a solid portfolio of customers, expanding its digital channels and range of quality banking products and services for all business segments: Retail, SMEs, and Corporate.
Garanti BBVA is part of Garanti BBVA Group Romania, together with Garanti BBVA Leasing and Garanti BBVA Consumer Finance, which complete the bank’s offer with specific leasing products, fleet management services, as well as consumer loans.
Garanti BBVA Romania is owned by Garanti BBVA Turkey (TGB), the second largest private bank in Turkey. The majority shareholder of Garanti BBVA Turkey is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).