Fitch affirms Garanti BBVA Romania’s long-term IDR at ‘BB-‘

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.

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.