REG - TBC Bank Group PLC - EBRD Agrees Subordinated Loan Facility with TBC

TBC BankAnnouncement

14/11/2023 11:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231114:nRSN4106Ta&default-theme=true

RNS Number : 4106T  TBC Bank Group PLC  14 November 2023

EBRD Agrees Subordinated Loan Facility with TBC Bank

TBC Bank Group PLC ("TBC PLC") announces that its subsidiary, JSC TBC Bank
("TBC Bank"), has signed a subordinated loan agreement in the amount of USD 30
million with the European Bank for Reconstruction and Development ("EBRD").
The funding provided by the EBRD will strengthen TBC's capital structure and
support the bank's sustainable growth. The loan facility bears a maturity of
ten years and qualifies as Tier II capital under the Basel 3 framework. Within
this transaction, TBC also becomes the first partner bank for EBRD in the
Caucasus region to commit to developing the Paris Alignment transition plan
and starting multi-year cooperation with EBRD on the Paris Alignment.

Alkis Vryenios Drakinos, EBRD Regional Director for the Caucasus, said: "The
EBRD is committed to supporting its long-standing partner, TBC Bank, in
embarking on a transformational journey to develop and implement a plan, which
will advance its climate business practices in line with the best
international standards.''

Vakhtang Butskhrikidze, CEO of JSC TBC Bank, said: "I am delighted that our
strategic partnership with the EBRD continues with another excellent
transaction. This subordinated loan facility will strengthen TBC's capital
structure and increase the Bank's long-term resilience. I am also particularly
proud that TBC is the first EBRD partner bank in the region to develop Paris
Alignment transition plan and commit to progressively align TBC's business
practices with the Paris Agreement goals. I would like to thank the EBRD for
its continued support and look forward to working with them on many more
successful deals in the future".

About the EBRD

The EBRD is a leading institutional investor in Georgia. Since the start of
its operations there, it has invested more than €5 billion in 288 projects
in the financial, corporate, infrastructure and energy sectors, with 81 per
cent of these investments in the private sector.

 

For further enquiries, please contact:

Director of International Media and Investor Relations

Andrew Keeley

Or

Head of Investor Relations

Anna Romelashvili

ir@tbcbank.com.ge (mailto: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. TBC PLC also offers non-financial services via TNET, the largest
digital ecosystem in Georgia. Since 2019, TBC PLC has expanded its operations
into Uzbekistan by operating fast growing retail digital financial services in
the country. 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 39.1% of customer loans and 37.5% of
customer deposits as of 30 September 2023, according to data published by the
National Bank of Georgia on the analytical tool Tableau.

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFZLFFXFLXFBV