TBC Bank Group PLC TBC Bank and EIB sign a credit line agreement (3417J)
December 21 2020 - 2:04AM
UK Regulatory
TIDMTBCG
RNS Number : 3417J
TBC Bank Group PLC
21 December 2020
TBC Bank and EIB sign a EUR 25 million credit line expansion
agreement
TBC Bank Group PLC ("TBC PLC") announces that its subsidiary,
JSC TBC Bank ("TBC Bank") and the European Investment Bank ("EIB")
have signed an agreement to expand the existing credit line
facility of EUR 56 million by additional EUR 25 million. This
seven-year loan facility will be primarily used to support the
recovery of small and medium size enterprises affected by the
COVID-19 pandemic. The funds can be disbursed either in EUR, USD or
synthetic GEL, based on our funding needs.
Vakhtang Butskhrikidze, CEO of TBC Bank, commented:
"We are proud to have an impressive track record of successful
cooperation with EIB spanning more than eight years, which is a
testament to our truly efficient working relationship. EIB
continued to stand by our side during these difficult times and
extended much needed support to Georgian SMEs, which were affected
the most by the COVID-19 pandemic."
EIB Vice-President Teresa Czerwińska, who is in charge of
operations in Georgia, commented:
" As the bank of the European Union, we are proud to be
bolstering Georgia and its economy in this hour of need. The EIB
financing will support both Georgian SMEs and the country's
financial sector so that they can continue to operate despite the
pandemic and drive the Georgian economy forward. Together with our
partners in the country's public and private sector, we look
forward to building a prosperous and sustainable future for
Georgia."
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 10% of EIB activity supports the EU's
external and development policies, while the rest is focused on
Europe.
For further enquiries, please contact:
Director of International Media and Investor Relations
Zoltan Szalai
Or
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About TBC Bank Group PLC ("TBC PLC")
TBC Bank Group PLC ("TBC PLC") is a public limited company
registered in England and Wales. TBC PLC is the parent company of
JSC TBC Bank ("TBC Bank") and a group of companies that principally
operate in Georgia in the financial sector and other closely
related fields. TBC PLC also recently expanded its operations in
Uzbekistan. TBC PLC is listed on the London Stock Exchange under
the symbol TBCG and is a constituent of the FTSE 250 Index. It is
also a member of the FTSE4Good Index Series and the MSCI United
Kingdom Small Cap Index.
TBC Bank, together with its subsidiaries, is a leading universal
banking group in Georgia, with a total market share of 39.3% of
loans and 38.3% of non-banking deposits as of 30 September 2020,
according to 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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGRFEESAFESSESE
(END) Dow Jones Newswires
December 21, 2020 03:04 ET (08:04 GMT)
Tbc Bank (LSE:TBCG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tbc Bank (LSE:TBCG)
Historical Stock Chart
From Apr 2023 to Apr 2024