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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