TBC Bank Group PLC Moody's Upgrades TBC Bank's Outlook
02 Abril 2024 - 2:41AM
RNS Regulatory News
RNS Number : 9462I
TBC Bank Group PLC
02 April 2024
Moody's affirms the long-term
deposit and senior unsecured ratings of JSC TBC Bank and changes
outlook from negative to stable
TBC Bank Group PLC ("TBC PLC")
announces that on 28 March 2024, Moody's Investors Service
("Moody's") affirmed JSC TBC Bank's ("TBC Bank") Ba2 long-term
local and foreign currency deposit ratings, as well as senior
unsecured rating and revised the outlook from negative to
stable.
The stable outlook on the senior
unsecured and long-term deposit ratings is reflective of the
agency's expectation that the bank will continue to benefit from
strong profitability which will continue to support capitalization,
while maintaining solid liquidity, as well as Moody's decision to
affirm Georgian government's long-term issuer rating of Ba2 and
change its outlook from negative to stable.
Moody's also raised TBC Bank' s
Baseline Credit Assessment (BCA) and Adjusted BCA from ba3 to
ba2.
The long-term Counterparty Risk
Ratings (CRRs) were also upgraded from Ba2 to Ba1 and the long-term
Counterparty Risk Assessment (CR Assessment) from Ba2(cr) to
Ba1(cr).
For
further enquiries, please contact:
Director of Investor Relations
Andrew Keeley
Or
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About TBC Bank Group PLC ("TBC PLC")
TBC Bank Group PLC ("TBC PLC") is a
public limited company registered in England and Wales. TBC PLC is
the parent company of JSC TBC Bank ("TBC Bank") and a group of
companies that principally operate in Georgia in the financial
sector. TBC PLC also offers non-financial services via TNET, the
largest digital ecosystem in Georgia. Since 2019, TBC PLC has
expanded its operations into Uzbekistan by operating fast growing
retail digital financial services in the country. TBC PLC is listed
on the London Stock Exchange under the symbol TBCG and is a
constituent of the FTSE 250 Index. It is also a member of the
FTSE4Good Index Series and the MSCI United Kingdom Small Cap
Index.
TBC Bank, together with its
subsidiaries, is a leading universal banking group in Georgia, with
a total market share of 39.3% of customer loans and 40.1% of
customer deposits as of 31 December 2023, according to data
published by the National Bank of Georgia on the analytical tool
Tableau.
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