The international rating agency Fitch Ratings has revised upwards the Long-Term Debt Rating (IDR) of Garanti BBVA Romania (GBR) to ‘BB’ from ‘BB-‘ with Stable Outlook, this improvement representing the significant recognition of the solid financial position of the bank and its capacity to operate efficiently in the economic landscape of Romania.According to a press release of the bank, sent on Monday, Fitch improved the Viability Rating (VR) of GBR to ‘bb’ from ‘bb-‘ and the Shareholder Support Rating (SSR) to ‘bb-‘ from ‘b-‘. ‘The rating agency says that the IDR ratings of Garanti BBVA Romania (GBR) are supported by the bank’s capacity to operate in a Romanian improved economic environment, as it is reflected in the updating of the Viability Rating (VR)’ says the bank in the press release.Simultaneously, VR shows the solid capital indicators of the bank, historically high asset quality, adequate liquidity and a stable funding profile supported by a granular deposit base.‘This upward review of the ratings by Fitch reflects the solidity of our operational framework and commitment to sustainable growth on the local market. At Garanti BBVA Romania, we continue to prioritize the provision of innovative financial services and support the aspirations of our customers and local communities, proudly that the new ratings granted by Fitch are an important recognition of our well-founded strategy and the dedicated work of our team’ said Mustafa Tiftikcioglu, the general manager of Garanti BBVA Romania, quoted in the press release.The Garanti BBVA bank is part of the Garanti BBVA Romania group, together with Garanti BBVA Leasing and Garanti BBVA Credite de Consum, which complete the bank’s offer with specific leasing products, fleet management services, as well as 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 private bank of Turkey in terms of assets, with the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) as the majority shareholder.
Step into 2025 with music, excitement, and unforgettable performances! New Year’s Eve at JW Marriott Bucharest Grand Hotel is not just a celebration – it’s a grand spectacle where world-class entertainment, live music, and vibrant energy come together for a night to remember. This year, we’ve curated a sensational lineup of artists and performers to […]
The Bucharest Police recently announced that the city will host several commemorative ceremonies marking 35 years since the Romanian Revolution of December 1989, causing traffic restrictions around the city. The restrictions will be in place from Friday to Sunday, December 20-22, 2024. On Friday, December 20, at around 10:00 AM, a religious/military ceremony with wreath-laying […]
Alex Florența, the General Prosecutor of Romania, said on Friday, December 20, that harsher punishments are needed to combat incitement to violence and Legionnaire propaganda (related to Mișcarea Legionară, a Romanian interwar fascist movement) in public spaces effectively. To that end, the office of the General Prosecutor will propose new measures to combat such phenomena. However, […]
Dennis Lloyd, Inna, Damian & Brothers, and Killa Fonic are among the artists who will perform at Flight Festival 2025. The festival is scheduled to take place between June 20 and June 22 at Timișoara’s Banat Village Museum. For three days, the venue “will open its doors for an experience that combines music, nature, and […]
Around 67% of Romanians believe that the economic situation will worsen, 7% higher than the previous year, according to the EY Consumer Index Romania 2024. Findings suggest a challenging start of 2025 both economically and politically in Romania. Additionally, in 2024, more than half of respondents (59%) were extremely concerned about conflicts and external wars. […]
Polish LuxVet Group has acquired the Bucharest veterinary clinic RegalVet. The acquisition brings LuxVet’s local portfolio to five clinics and hospitals, one year after entering the local market. RegalVet Veterinary Clinic, which offers non-stop veterinary care, specializes in emergency veterinary medicine and surgery. The clinic employs ten qualified specialists, including veterinarians, technicians, and administrative staff. […]
