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.
The third edition of Taifas Balkan Film and Culture Festival, set to take place in Timișoara between October 13 and October 19, will include a retrospective dedicated to Romanian director Radu Jude. The public will be able to see the director's short films, in addition to a preview of his latest production, Dracula, presented at […]
Sursa International Light Art Festival, an event featuring immersive installations, projections, and light structures, will take place at the National Library of Romania from October 13 to October 19. The event brings together international and Romanian artists “in a visual dialogue about technology, architecture and sensitivity,” the organizers announced. “We wanted to build the opportunity […]
Romania’s Defense Ministry has signed a contract worth RON 50.4 million with Rheinnmetall Automecanica, a subsidiary of the German defense industry giant Rheinmetall, for the delivery of drone detection systems, Economedia.ro reported. The radar system will be delivered within 18 months at most and will reportedly be...
The former Steaua Roșie cinema in Cluj-Napoca will reopen as Edison-House of Music, a cultural hub dedicated to music and community, the organizers of the Jazz in the Park festival announced. Built in the early 1900s, the Edison building became, after World War II, the Steaua Roșie cinema. After 1989, the venue underwent several changes […]
Unprecedented amounts of precipitation have been recorded in Romania as cyclone Barbara hit the country on October 5-8, according to the authorities. At the same time, Bucharest exceeded the absolute maximum levels of rain for October. “Between October 5–8, 2025, Romania was affected by the Mediterranean cyclone Barbara, which formed over the Ionian Sea and […]
Romania is one of six European countries recently selected to develop a new artificial intelligence and supercomputing center under the EuroHPC – AI Factories program. The project, known as the AI Factory, will be Romania’s first national AI infrastructure, marking a major step toward strengthening its digital and research capabilities. The initiative will be led […]
