REG - TBC Bank Group PLC - TBC and EIB sign a EUR 70 mln loan agreement

TBC BankAnnouncement

18/12/2023 11:45

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RNS Number : 1647X  TBC Bank Group PLC  18 December 2023

TBC and EIB sign a EUR 70 mln 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 70 million with
the European Investment Bank (EIB). The multicurrency loan bears a maturity of
up to seven years and will be dedicated to finance small and medium-sized
enterprises (SMEs) and mid-caps in Georgia, with special focus on climate
related investments and female entrepreneurs. The facility is complemented by
support under the Greening the Financial Systems technical assistance
programme, funded by the German government's International Climate Initiative.

 

Vakhtang Butskhrikidze, CEO of JSC TBC Bank, said: "We are proud to have built
such a successful relationship with the EIB, spanning already over a decade.
Completion of this benchmark transaction is another testament to the
well-established, strong partnership between our organizations and our shared
values to promote sustainable development of Georgian economy. The facility
will enable TBC to continue supporting Georgian SMEs, by providing more
affordable, long-term financing, aiming to stimulate economic growth and job
creation; moreover, the special focus on climate related investments and
female entrepreneurs will improve the sustainable business environment in the
country."

 

EIB Vice-President Teresa Czerwińska, responsible for the Bank's activities
in Georgia, remarked: "The EIB is pleased to support Georgian SMEs with this
innovative loan intermediated through one of Georgia's leading banks, TBC
Bank. It is innovative because a substantial portion of the loan is
specifically allocated to green and inclusive finance focusing on gender
equality. The commitment to supporting small businesses, coupled with a strong
focus on green and inclusive financing in very close cooperation with the
European Union, aligns seamlessly with the priorities of the EIB."

 

European Union Ambassador to Georgia Paweł Herczyński said: "The EU's
Economic and Investment Plan for the Eastern Partnership is the backbone of
EU-Georgia cooperation for the years to come. It sets ambitious targets and
identifies important flagship initiatives including our support to 80,000
Georgian SMEs. The EU is pleased to support today's loan agreement, which
takes a sustainable and inclusive approach to ensuring access to finance and
job creation. A more inclusive, greener economic sector is crucial for the
development and resilience of Georgia's economy and society. Working on these
EU priorities -a more inclusive, greener economy- will help Georgia on its EU
path."

 

About the EIB and EIB Global

The European Investment Bank (EIB) is the long-term financing institution of
the European Union, owned by its Member States. It provides long-term finance
for sound investments in pursuit of EU policy goals, supporting projects in
four priority areas: infrastructure, innovation, climate and environment, and
SMEs.

EIB Global is the EIB Group's specialised arm devoted to increasing the impact
of international partnerships and development finance, contributing to the
three overarching priorities of the European Union: the European Green Deal,
the Global Gateway and jobs, and sustainable and inclusive growth. Within Team
Europe, EIB Global fosters strong, focused partnerships alongside fellow
development finance institutions and civil society in close cooperation with
other multilateral development banks. EIB Global brings the EIB Group closer
to local people, companies and institutions through our offices around the
world.

 

 

For further enquiries, please contact:

Director of Investor Relations and International Media

Andrew Keeley

 

Or

 

Head of Investor Relations

Anna Romelashvili

ir@tbcbank.com.ge
(file:///C:/Users/NGikoshvili/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/OZXDEM6G/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.

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