Fitch Revises Outlook on TBC Bank to Positive

RNS Number : 1063M

TBC Bank Group PLC

25 April 2018

 

Fitch Revises Outlook on TBC Bank to Positive

Fitch Ratings (Fitch) announced on 23 April 2018 that it has revised the outlook on the Long-Term Issuer Default Rating (IDR) of JSC TBC Bank, a subsidiary of TBC Bank Group PLC, to positive from stable and affirmed the IDR at 'BB-'.

The revision of the outlook on JSC TBC Bank reflects Fitch's view that the bank's risk profile and financial metrics should benefit from the improving operating environment in Georgia.

For further enquiries, please contact:

Head of Investor Relations

Anna Romelashvili 

[e-mail]

About Fitch Ratings

Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective and insights that Fitch provides have helped investors fund a century of growth and make important credit judgments with confidence.

About TBC Bank Group PLC ("TBC PLC")

TBC PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC PLC became the parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016. TBC PLC is listed on the London Stock Exchange under the symbol TBCG.

TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 38.2% of loans and 39.8% of non-banking deposits as at 31 December 2017, according to data published by the National Bank of Georgia.

 

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