Fitch affirms ratings for BasisBank
rating agency Fitch has affirmed JSC BasisBank Long-term Issuer Default Rating
from ‘B-’ to ‘B‘ with a Stable Outlook.
upgrade reflects BBs financial performance following its acquisition by the
Chinese Hualing Group, particularly solid capitalization, satisfactory quality
of credit portfolio and high liquidity profile.
May 2013 shareholders of JSC Basisbank Hualing Group made a 30 million USD
equity injection and Zurab Tsikhistavi invested additional capital 0,5 million
USD. Hualing Group has been supporting the capital by equity injection since it
became the shareholder of JSC Basisbank. As a result, the capital of Basisbank
has increased four times and it amounts over 100 million GEL.