TBC Bank Group PLC TBC Bank and EIB Sign EUR30 Million Loan Agreement (1504C)
September 27 2018 - 3:34AM
UK Regulatory
TIDMTBCG
RNS Number : 1504C
TBC Bank Group PLC
27 September 2018
TBC Bank and EIB Sign EUR 30 Million Loan Agreement
TBC Bank Group PLC ("TBC PLC") announces that its subsidiary,
JSC TBC Bank ("TBC Bank"), has signed a loan agreement in the
amount of EUR 30 million with 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 relationship with
EIB, TBC Bank's long standing partner. This is already the fourth
transaction we have accomplished since the launch of our
partnership in 2012, which is a testament to the truly efficient
working relationship our respective organizations have formed. This
facility will help TBC Bank to further strengthen its leading
position in the Georgian small and medium enterprise (SME)
segment", commented Vakhtang Butskhrikidze, Chief Executive Officer
of TBC Bank
EIB Vice-President Vazil Hudák commented: "Thanks to EIB
support, Georgian SMEs will improve their access to long term
finance, which is a prerequisite for their growth and
competitiveness. This will help create new job opportunities and
foster the general development of Georgia's economy. Through this
new loan to TBC Bank, the EIB contributes to the implementation of
EU external policy objectives to stabilise and promote the private
sector in the Eastern Partnership Region".
For further enquiries, please contact:
Director of International Media and Investor Relations Head of
Investor Relations
Zoltan Szalai Anna Romelashvili
ir@tbcbank.com.ge ir@tbcbank.com.ge
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
38.3% of loans and 39.5% of non-banking deposits as at 30 June
2018, according to the data published by the National Bank of
Georgia.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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