Standard & Poor's affirms Bank of Georgia ratings
Georgia, Tbilisi, Feb.14 / Trend N.Kirtzkhalia /
Standard & Poor's has affirmed the long-term and short-term credit ratings of Bank of Georgia at the BB-/B level, the bank told Trend on Tuesday.
According to analysts, the Bank of Georgia ratio is 6.5-7 percent and will remain at this level for the next 1.5 years. The bank's tier-1 capital in mid-2011 was 18 percent, which far exceeds the national regulator's norms.
Its profitability after the crisis in 2009 has returned to normal figures.
Thus, in the first half of 2011, the share of problematic loans amounted to only four percent.
The bank's shareholders are the Bank of New York Limited (90.96 percent), East Capital Financial Institutions II AB (4.3 percent) and individuals.