Fitch Ratings confirmed the ‘BB+’ credit rating of ProCredit Bank Georgia and improved its outlook from ‘negative’ to ‘stable’.
Based on the assessment of the international agency, ProCredit Bank Georgia still maintains the highest credit rating among the banks operating in Georgia and is one step above the country's sovereign rating.
The stable rating of ProCredit Bank Georgia is significantly driven by its strong German parent company ProCredit Holding AG & Co., which ensures not only the credibility and stability of ProCredit Bank, but also the implementation of up-to-date European banking practices in the country.
The Fitch rating and improved outlook of ProCredit Bank Georgia emphasises that in today's challenging environment, ProCredit Bank has successfully overcome the crisis caused by the pandemic, considering it has maintained its business operations and generated successful business results.
It is worth noting that ProCredit Holding has been listed in the Prime Standard of the Frankfurt Stock Exchange since 2016, which highlights its financial and reputational strength at the international level.
“The Fitch rating does not only highlight the stability and profitability of ProCredit Bank, it is the merit of a responsible, prudent banking policy, based on the international experience of the German bank in Georgia. The 22-year experience of our bank in the Georgian banking sector is essential and we are pleasedthat our success remains a guarantee of a long-term financial partnership for our clients.’- Zeinab Lomashvili, Director of ProCredit Bank Georgia.
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Procredit Bank
