20.Jan .2020 11:35

Fitch Rates Terabank ‘B+’

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Fitch Ratings, one of the largest international credit rating agencies, has assigned Terabank a Long-Term Issuer Default Rating (IDR) of ‘B+’ with a Stable Outlook.

The evaluation is based on a variety of key rating drivers and reflects the bank’s good financial metrics and its track record of operating under the new strategy of developing SME, micro and retail lending.

The rating also considers terabank’s increased profitability and improved quality of credit portfolios as well as its solid position with regard to capital and liquidity buffers.

“Such a positive evaluation from one of the most reliable organizations in the world, which is Fitch Ratings, means a lot to us. It strengthens trust from international institutions and investors, confirming once again that terabank has chosen the right path for its development and we are already seeing the fruits of our labor. It must be noted that small and medium enterprise lending is our primary strategic segment, and the bank will continue to work in this direction,” states Thea Lortkipanidze, CEO of Terabank.

The rating report emphasizes the fact that terabank’s performance has improved significantly since 2016, alongside with its cost-to-income ratio, profitability and capitalization, which benefits significantly from support from shareholders.

Fitch Ratings is the world’s leading rating agency, specializing in credit rating evaluation and research.