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International rating agency Moody's upgraded Liberty Bank ranking from B1 to Ba3. The important steps taken by the new management in the shortest time to establish a high-tech and universal type of bank have earned the trust of Moody’s. The increase in the ranking is due to the reforms carried out in the bank, improved financial indicators and access to capital. The active process of diversification of the loan portfolio also had a positive impact on the positive change in the ranking.
In anticipation of Moody's, Liberty Bank will continue to diversify its loan portfolio, which is in line with the bank's stated strategy - to become a customer-oriented, universal type of bank. Simplified access to capital markets allows to attract financial resources at an attractive price, which, in turn, has a positive impact on the bank's customers.
"We are pleased that the first steps taken by the new management have earned the trust of Moody's. Despite the negative effects of the new banking regulations and our sharp reduction in interest rates on social loans, our team has taken significant steps to become a high-tech and universal type of bank in the shortest possible time." – said the acting Director-General of the Bank, Levan Lekiashvili.