Business
TBC Bank completed a transaction with Symbiotics
TBC Bank completed a transaction with Symbiotics.
About this update from Tbc Bank Group Plc
[{"type":"text","content":"\n \nRNS Number : 9940H TBC Bank Group PLC 13 June 2017 \n\nTBC Bank completed a transaction with Symbiotics\n \nTBC Bank Group PLC announces that its subsidiary, JSC TBC Bank (\"TBC Bank\") and Symbiotics (through its MSME Bond Platform) have completed a transaction in the amount of GEL 45 million (USD 18.5 million). The 3 year local currency facility will enable TBC Bank to finance micro, small and medium-sized enterprises in Georgia.\n \nWe are delighted to announce the successful completion of this transaction, which is of great importance not only for the financial sector but the entire Georgian economy. These funds will enable TBC Bank to further expand its operations throughout the country and provide local currency financing to micro, small and medium-sized businesses. This is our first transaction with Symbiotics SA and we are pleased to have begun our partnership with this local currency loan. We look forward to building a long-standing relationship and are planning more transactions in the years to come,\" commented Vakhtang Butskhrikidze, CEO of TBC Bank. \n \n\"We are very happy to close this first transaction with the leading financial institution of Georgia whose operations are helping to develop the small and medium enterprise segment of the market and therefore creating new opportunities and jobs in this country,\" remarked Daniel Schriber, Symbiotics Head of Investment Operations.\n \nFor further enquiries, please contact:\nHead of Investor Relations\nAnna Romelashvili \[email protected]\n \n \nAbout SYMBIOTICS SA \nSymbiotics is an investment company specialized in emerging, sustainable and inclusive finance. Since inception in 2005, it has invested USD 3.6 billion in more than 300 institutions in over 70 emerging countries, working as an advisor or manager of about 40 investment funds and many institutional investors. The firm is headquartered in Switzerland, with offices in Cape Town, London, Zurich, Mexico City and Singapore, regrouping over 100 employees globally. Symbiotics currently reaches out, indirectly through investments, to 1,600,000 small enterprises and low income households at the base of the pyramid in emerging and frontier markets. For more information please refer to www.symbioticsgroup.com.\n \n \nAbout TBC PLC\nTBC PLC is a publ...