Garanti Bank Romania’s Viability Rating, upgraded by Fitch to ‘b+’

0

Get real time updates directly on you device, subscribe now.

After recording net revenues of EUR 33.1 million in Romania at the end of March, up by over 17 percent y-o-y, Garanti Bank, part of Turkiye Garanti Bankasi, announces on Friday that the international ratings agency Fitch Ratings upgraded its Viability Rating (VR) from ‘b’ to ‘b+’.

”The decision reflects improvements in Garanti Bank’s funding profile (an increase in the share of customer deposits), a solid Pre-Provision Operating Profit (PPOP) and improved prospects for the Romanian economy,” a press release reads.

Fitch Ratings has kept intact Garanti Bank’s other ratings: the long-term IDR at ‘BB+’, maintained on Rating Watch Positive, the short-term IDR at ‘B’, maintained on Rating Watch Positive, and the Support Rating at ‘3’, also maintained on Rating Watch Positive.

“Garanti Bank’s strategy is to continue its long-term sustainable growth and Fitch’s upgrade of our Viability Rating confirms that we are on the right track”, Ufuk Tando?an, CEO of Garanti Bank Romania stated.

DONATE: Support our work
In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.
So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:
Donate with PayPal
Donate by Bank Wire
Black Zonure SRL
UniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002

Leave A Reply

Your email address will not be published.