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TBCG - TBC Bank News Story

989p -25.0  -2.5%

Last Trade - 11:16am

Sector
Financials
Size
Mid Cap
Market Cap £559.3m
Enterprise Value £1.40bn
Revenue £312.8m
Position in Universe 504th / 1807

Georgia's TBC Bank secures 94 mln euros of loans from EIB

Wed 29th November, 2017 2:06pm
Nov 29 (Reuters) - Georgia's largest retail bank, TBC Bank 
 TBCG.L , said it secured two loan guarantees from the European 
Investment Bank Group (EIB) worth a combined 94 million euros 
($111 million). 
    It will use the loans to support micro, small and 
medium-sized enterprises (MSMEs). 
    "The size and structure of the products will allow TBC Bank 
to accelerate financing of Georgian MSME and small mid-caps 
through reducing credit risk," Vakhtang Butskhrikidze, TBC 
Bank's CEO, said on Wednesday. 
    "The introduction of guarantee facilities to the Georgian 
financial sector is an important trigger to foster further 
growth of the economy and support MSME development." 
 
 ($1 = 0.8439 euros) 
 
 (Reporting by Margarita Antidze; Editing by Susan Fenton) 
 ((margarita.antidze@thomsonreuters.com; +995322999370; Reuters 
Messaging: margarita.antidze.thomsonreuters.com@reuters.net))
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