REG - TBC Bank Group PLC - Moody's Upgrades TBC Bank's Outlook

TBC BankAnnouncement

02/04/2024 09:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240402:nRSB9462Ia&default-theme=true

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 (mailto: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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCSSSSAEELSELL