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TBC Bank Receives GEL54 Million Debt Financing
TBC Bank Receives GEL54 Million Debt Financing.
About this update from Tbc Bank Group Plc
[{"type":"text","content":"\n \nRNS Number : 4017Z TBC Bank Group PLC 14 December 2017 \n\nTBC Bank Receives GEL 54 Million Debt Financing\nTBC Bank Group PLC (\"TBC PLC\") announces that its subsidiary, JSC TBC Bank (\"TBC Bank\"), has signed a loan agreement in the amount of USD 20 million in local currency equivalent with the European Fund for Southeast Europe (EFSE).\n \n\"EFSE is a long term partner of TBC Bank and we are very proud to have built a truly successful partnership with this distinguished institution. Local currency funding is very important not only for TBC Bank, but also for the entire Georgian financial sector. This five year facility will make it possible for TBC Bank to offer local currency loans to our customers, which is especially important at this stage of the development of the country\" commented Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank.\n \nEFSE Board Chairman Christoph Tiskens said, \"TBC Bank has been an ideal partner in providing additional financing to EFSE's target group of MSEs in Georgia. Its strong rural presence makes the bank particularly well positioned to serve communities that might otherwise have difficulty accessing funding endeavors that are very much in line with EFSE's goal of promoting local small business growth in Georgia.\" \n \nFor further enquiries, please contact:\nHead of Investor Relations\nAnna Romelashvili \[email protected]\n \nAbout TBC Bank Group PLC (\"TBC PLC\")\nTBC PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC PLC became the parent company of JSC TBC Bank (\"TBC Bank\") on 10 August 2016. TBC PLC is listed on the London Stock Exchange under the symbol TBCG. \nTBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 38.2% of loans and 38.6% of non-banking deposits as at 30 September 2017, according to data published by the National Bank of Georgia. \nAbout the European Fund for Southeast Europe\nThe European Fund for Southeast Europe was initiated by KfW Development Bank (KfW) with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. It aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and...