The international rating agency Fitch Ratings raised Liberty’s long-term credit rating forecast from “stable” to “positive”. Both the long-term credit rating “B+” and the sustainability rating “B+” have remained at the same level.
According to the rating agency, the improvement of the long-term credit rating forecast of “Liberty Bank” is due to the strong financial indicators of the bank.
Vato Babunashvili, Deputy General Director and Financial Director of “Liberty”, says that the evaluation of credit agencies is crucial in the financial industry because the main goal of their evaluation is to prevent financial crises.
“We are pleased that Fitch Ratings has evaluated and upgraded Liberty’s long-term credit rating from ‘stable’ to ‘positive,’ implying that the rating status will be upgraded further.”
According to the rating agency’s analysis, the bank’s profitability has increased, and its asset quality and financing mix has improved.
As a result of this change, we are confident that our strategy is correct, we are on the right track and we will further strengthen this goal”, said Vato Babunashvili, Deputy General Director of Liberty to “Business Partner”.
According to his own explanation, the annual growth of “Liberty” in 2020-2022 was 31% of the total portfolio while the market grew by 11.7%. “But if we look at the last three years, we have gradually increased our market share every year, which is exactly reflected in our growth.
The major goal of our strategy is also to “increase the portfolio mix, to be diversified, and be equally and efficiently represented in all banking segments,” Vato Babunashvili explains.
