JSC Liberty Bank Issuer Default Rating Rating Outlook Update Date
Fitch B+ Stable 31 March, 2021
Moody's Ba3 Stable 17 December, 2021


Fitch Ratings

The revision of the Outlook to Stable reflects reduced pressure on the bank's credit profile from the health crisis and contraction of the Georgian economy. Fitch Ratings expect that the bank's pre-impairment profits will be sufficient to absorb additional credit losses from the pandemic without jeopardizing its financial profile. The bank entered the crisis with healthy capital cushion and good performance metrics. The Long-Term Issuer Default is driven by the bank's intrinsic strength.

Fitch credit rating action report dated - 31/03/2021
Fitch supplementary analytical report dated - 14/09/2021



The Ba3 long-term deposit ratings, continue to incorporate a moderate likelihood of government support from Georgia (Ba2 stable) for Liberty Bank in case of need, reflecting the bank's significant market share of 6.0% of domestic deposits as of end September 2021 and its importance to the country's payment system because of its role in distributing state pensions and welfare payments in the country. This results in one notch of uplift as was the case previously.

The outlook on all ratings remains stable, driven by Moody's expectation that the banks' performance and underlying financial metrics will continue to be resilient and consistent with their ratings.

Moody's credit rating action report date - 17/12/2021