Fitch upgrades Garanti Bank Romania rating outlook

International rating agency Fitch Ratings upgraded Garanti Bank Romania’s outlook to stable, and confirmed its ratings. As such, the bank’s Long Term IDR was confirmed to ‘BBB- (Investment grade)‘, its Short Term IDR, to ‘F3’, its Support Rating to ‘2’, and its Viability Rating to ‘b+’.

Fitch emphasized the strategic importance of Banco Bilbao Vizcaya Argentaria’s presence within Turkiye Garanti Bankasi’s shareholding, GBR’s parent bank.

“We have a strong commitment on the local market and our strategy is to further develop and grow. Fitch’s recent outlook revision and affirmation of our IDRs, support and viability ratings confirm our long term plans”, said Ufuk Tandogan, CEO of Garanti Bank Romania.

Garanti Bank is part of the financial-banking group Garanti Romania, which brings together Garanti Leasing (the brand under which the company Motoractive IFN SA operates) and Garanti Consumer Finance (the brand under which Ralfi IFN operates).

Garanti Bank is held by Turkiye Garanti Bankasi AS (TGB). TGB is a universal bank with leading presence in all business lines. The bank serves more than 14 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services.

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Garanti Bank Romania offers a series of products and services for all business segments: retail, SME and corporate. It has been present on the Romanian market since 1998.

Georgiana Bendre