TBC Bank receives USD 34 Million from EIB

RNS Number : 4589R

TBC Bank Group PLC

28 February 2019

 

TBC Bank receives USD 34 million from EIB

TBC Bank Group PLC ("TBC PLC") announces that on February 28 its subsidiary, JSC TBC Bank ("TBC Bank"), has received USD 34 million from the European Investment Bank (EIB). The five year loan facility will primarily be used to finance small and medium size enterprises in Georgia.

 "We are proud to have built such a successful partnership with EIB. This loan will further contribute to the positive development of the bank and our SME clients in various sectors of the economy, boosting job-creation and long lasting benefits for the country", commented Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank.

For further enquiries, please contact:
Director of International Media and Investor Relations                                     
Zoltan Szalai                                                                                                                [e-mail]                                                                                                    

Or

Head of Investor Relations

Anna Romelashvili
[e-mail]

About EIB

The European Investment Bank (EIB) is the European Union's bank. It is the long-term lending institution of the EU and is the only bank owned by and representing the interests of the European Union Member States. It makes long-term finance available for sound investments in order to contribute towards EU policy goals. The EIB works closely with other EU institutions to implement EU policy.

As the largest multilateral borrower and lender by volume, the EIB provides finance and expertise for sound and sustainable investment projects which contribute to furthering EU policy objectives. More than 90% of EIB activity is focused on Europe but it also supports the EU's external and development policies.

About TBC Bank Group PLC ("TBC PLC")

TBC 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. 

TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 38.8% of loans and 41.2% of non-banking deposits as at 31 December 2018, according to data published by the National Bank of Georgia.

 

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