Garanti BBVA Romania outlook upgraded to Stable by Fitch

Fitch Ratings has upgraded Garanti BBVA Romania`s 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.

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).