BAKU, Azerbaijan, April 2
Tamilla Mammadova – Trend:
As of today, Bank of Georgia (BOG) shares have the highest price among Georgian companies on the London Stock Exchange (LSE) since March 16, Trend reports via Georgian media.
Bank of Georgia benefits from high capitalization.
Georgia is presented with three companies on the London Stock Exchange. These are Bank of Georgia, TBC Bank and Georgia Capital.
The per-share value of Bank of Georgia PLC totals 11.16 pounds. Bank share price was 1.45 percent up and the capitalization of the company reached 540.86 million pounds.
As of March 31, international rating agency Fitch Ratings has revised the outlook on the Bank of Georgia to Stable from Negative. In addition, Fitch left the "long-term" rating of the bank at "BB- ".
"The revision of the Outlook to Stable on BOG reflects reduced pressure on the bank’s credit profiles from the pandemic and contraction of the Georgian economy. We expect its pre-impairment profits will be sufficient to absorb additional credit losses from the pandemic without jeopardizing its financial profiles. Bank entered the crisis with healthy capital cushions and sound performance metrics and we believe the rating of BOG can tolerate further moderate deterioration of asset quality", Fitch reports.
As for the other companies at the LSE, the per-share value of TBC Bank totals 10.20 pounds. The bank’s share price was 3.66 percent up last day. As of April 1, the per-share value of Georgia Capital amounted to 5.99 pounds, which was 3.99 percent up.
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