The Business Association of Georgia Congratulates Member Company Bank Cartu on Its Credit Rating Upgrade to B+

1 Oct '25

Following an assessment conducted on September 26, 2025, the international rating agency S&P Global Ratings upgraded the long-term credit rating of JSC "Bank Cartu" to B+.

"Bank Cartu has achieved significant progress and improved its rating, which directly testifies to both the high efficiency of its internal governance as well as the bank's financial stability and long-term sustainability. This result reflects the organization's ability to effectively respond to the challenges of the modern banking sector and continue developing in line with its strategic goals," stated Zurab Gelenidze, General Director of Bank Cartu.

The upgrade in international rating represents not only recognition of the bank's success, but also increases its credibility in relations with investors and partners.

Notably, the rating upgrade was driven by the improvement of the bank's asset quality, the growth of a healthy credit portfolio, and high capitalization metrics.

"We congratulate Bank Cartu, a member company of the Business Association of Georgia, on this international recognition, which is an important step forward. This achievement reflects the professionalism and tireless work of the bank's team, serving as the foundation for its long-term sustainability and development," stated Levan Vepkhvadze, Executive Director of the Business Association of Georgia.