The top two Romanian banks have received confirmation of Fitch’s “A-“rating,” with stable perspectives, which Fitch analysts attribute to strong support for Banca Comerciala Romana’s (BCR) major shareholder and the integration process in the Erste Group. Fitch confirmed the “A-” rating for BCR and the stable perspective associated with the rating, because these reflect the strong support of the Romanian bank’s major shareholder, Erste Bank. The press release goes on to say that “A-” rating associated to short-term loans and the support rating reflect the high support potential BCR has from its main shareholder, Austrian Erste Bank, which has a 69 percent share in the Romanian bank. Fitch’s rating for the Erste Bank group is A, with stable outlook. The individual rating reflects the very strong domestic franchise, sound profitability and expected improvements in the risk management sector and product offers following the bank’s restructuring.
Fitch also maintained the issuer default at “A-” for BRD- Groupe Société Générale with stable outlook, based on the strong support BRD receives from Société Générale. The rating agency also confirmed the short-term issuer default rate at “F2” and the support rating at “1”. These ratings reflect the high support BRD receives from French banking group Société Générale, which has an “AA” rating and a stable outlook, according to Fitch analysts.
Short-term
The rating agency maintains the short-term issuer default rating at “F2,” the individual rating at “C/D” and the support rating at “1”, according to a Fitch press release.
