Fitch has also upgraded GBR's Viability Rating (VR) to 'bb' from 'bb-' and Shareholder Support Rating (SSR) to 'bb-' from 'b-'.

The rating agency emphasizes that Garanti BBVA Romania's (GBR) IDR ratings are driven by the bank's ability to operate within an improved Romanian operating environment, as reflected in its upgraded Viability Rating. In addition, the VR also reflects the bank's strong capital ratios, historically solid asset quality metrics, adequate liquidity and stable funding profile, supported by a granular deposit base.

“This rating upgrade from Fitch reflects the strength of our operational framework and commitment to sustainable growth in the local market. At Garanti BBVA Romania, we continue to prioritize delivering innovative financial services and supporting the aspirations of our clients and communities. I note with pride that Fitch's new ratings are an important recognition of our well-grounded strategy and the dedicated work of our teams,” stated Mustafa Tiftikcioglu, CEO of Garanti BBVA Romania.

The bank Garanti BBVA is part of the Garanti BBVA Romania Group, along with Garanti BBVA Leasing, Garanti BBVA Consumer Finance, and Garanti BBVA Fleet Management, which complement the bank's offering with specific leasing products, fleet management services, and consumer loans. In 2023, the bank celebrated 25 years of active presence in the Romanian banking system.

Garanti BBVA Romania is owned by Garanti BBVA, the second-largest private bank in Türkiye per consolidated asset size, having as majority shareholder, the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).