Fitch raises Abanca’s rating for the second time in 12 months
The US ratings agency Fitch has raised the rating of Spanish bank Abanca for the second time in a year to BBB+ with a stable outlook.
The agency highlights the improved structure of its assets and capitalization as well as its improved profitability.
The last time the bank, which has a significant presence in Portugal, operating for over 20 years with numerous branches (around 70-72) and offering a full range of banking services for individuals and businesses, having expanded its network through acquisitions like Deutsche Bank’s local operations, had been in February 2025.
At the same time, the rating agency also raised Abanca’s viability rating from BBB to BBB+; the rating of the preferred senior debt, from BBB to BBB+; the rating of the Tier 2 subordinated debt, from BB+ to BBB- (thus entering investment grade, since it also has a Baa2 rating from Moody’s); and the rating of AT1 instruments, from BB- to BB.
Abanca acquired the Portuguese bank EuroBic (Banco BIC Português) in 2023, a deal that significantly expanded its presence in Portugal, making it the seventh-largest bank in the country by strengthening its customer base and business volume, following an earlier acquisition of Deutsche Bank’s private and commercial banking operations in Portugal.
