REG - TBC Bank Group PLC - TBC and IFC Sign a $150 million Loan Agreement

TBC BankAnnouncement

01/08/2024 12:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240801:nRSA8280Ya&default-theme=true

RNS Number : 8280Y  TBC Bank Group PLC  01 August 2024

TBC and IFC sign $150 Million Loan Agreement to Support Georgian SMEs

TBC Bank Group PLC ("TBC PLC") announces that its subsidiary, JSC TBC Bank
("TBC Bank"), has signed a loan agreement in the amount of $150 million with
the International Finance Corporation (IFC). The loan bears a maturity of five
years and will be dedicated to boost access to finance for small and
medium-sized enterprises (SMEs) in Georgia, with half earmarked for renewable
energy and energy-efficient projects.

Vakhtang Butskhrikidze, CEO of JSC TBC Bank, said: "The signing of this
facility is a significant milestone in partnership with IFC and reflects our
shared commitment to promote the sustainable development of the Georgian
economy. The facility will not only bolster TBC's efforts to support SMEs, but
also enable us to play a critical role in promoting climate-friendly projects
across Georgia. We would like to express our gratitude to IFC and we look
forward to working on many more successful deals in the future".

Ivana Fernandes Duarte, IFC's Regional Manager for the South Caucasus, said:
"This investment underscores IFC's commitment to fostering economic growth and
sustainability in Georgia. By partnering with TBC Bank and leveraging its
excellent digital channels and extensive branch network, we aim to drive
significant advancements in both SME and climate financing, contributing to a
more resilient and sustainable economy".

About IFC
For more information, visit www.ifc.org (http://www.ifc.org)

 

 

For further enquiries, please contact:

Director of Investor Relations

Andrew Keeley

Or

Head of Investor Relations

Anna Romelashvili (mailto:ir@tbcbank.com.ge)

ir@tbcbank.com.ge (mailto:ir@tbcbank.com.ge)

 

About TBC Bank Group PLC ("TBC 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 39.5% of
customer deposits as of 31 March 2024, 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  AGRFLFSITDILIIS