S&P Global Ratings Confirms Georgia's Banking Sector's Sustainable Growth
Natia Turnava, Acting President of the National Bank, expressed her satisfaction with the recent report from S&P Global Ratings, which affirms the robust and sustainable development of the Georgian banking system.
The positive assessment of the National Bank of Georgia's policies by such a reputable institution instills confidence in the sector and attracts the interest of investors. Turnava also acknowledged the challenges outlined in the report, such as dollarization and risks associated with non-resident deposits, and assured that proactive measures are being implemented to address them.
S&P Global Ratings recently released an overview of the country's banking sector risk assessment, revealing improved results that propelled Georgia from the 8th to the 7th group, signifying one of the highest ratings in the region compared to other countries.
The report highlights that Georgian banks face fewer risks compared to their regional counterparts, attributed to effective banking regulations that bolstered the resilience of banks during periods of economic uncertainty. The National Bank of Georgia's adept handling of emerging risks amid evolving macroeconomic conditions over the years has been acknowledged by the influential rating agency.