Banking
Posted: 4 years ago

Fitch Ratings Confers BB- Credit Rating to TBC Leasing

With the growth trend and a 32% upturn, the leasing sector has finished 2019 on a high note. Simultaneously, the Fitch rating company has conferred a BB- grade long-term credit rating to TBC Leasing, which is the highest ever credit rating for any of Georgia’s non-bank financial institutions.

What factors have raised demand for leases, and who segments are leaders in this regard? – These issues were discussed on the TV program Business Partner. 

As noted by TBC Leasing Director General Gaga Gogua, this success is an easily attainable resource to leading international institutions. This source of funding enables TBC Leasing to communicate with partners and clients by making use of cheaper resources. 

As for financial resources that they are looking at for 2020-2021, TBC Leasing Financial Director Nugzar Loladze explains that in the coming year, the leasing portfolio will rise to 500 million GEL, and additional funds are required for this process.

“We work on a large scale. We plan to attract and invest about 200-250 million GEL in 2020”, Loladze noted. 

As for the competition, there are 5 companies on the market, of which two  appeared in 2019 and this is very good news for the sector, Gaga Gagua said. “We are competitors, however, we are, in reality, partners, as we have been developing this business together”, Gagua added. 

The Georgian leasing market has doubled over the past two years. TBC Leasing offers products in the fields of production, services, and healthcare. The company also plans to make investments in renewable energy, Nugzar Loladze pointed out. 

“Our priority is to increase our visibility, and enter the retail sector, too. We plan to develop the retail business sector. This will be useful for both the environment and consumer behavior”, Nugzar Loladze said. The service sector and production remain priorities in our business portfolio, he added. 

“Agribusiness is a very promising field, and this field needs companies at our level in order to make agriculture machines attainable for peasants and farmers,” Nugzar Loladze noted. 

Gaga Gogua and Nugzar Loladze stressed that it is necessary to utilize green funding. They also added that in 2020, the emphasis will be placed on purchasing new construction equipment and green funding.