REG - TBC Bank Group PLC - TBC and Proparco sign a EUR 100 mln loan agreement

TBC BankAnnouncement

04/12/2023 14:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231204:nRSD6031Va&default-theme=true

RNS Number : 6031V  TBC Bank Group PLC  04 December 2023

TBC and Proparco sign a EUR 100 million 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 100 million
with Proparco. The loan facility bears a maturity of seven years and will be
primarily used to finance climate related investments and female entrepreneurs
in Georgia. The facility will reaffirm TBC's leadership position in the
Georgian banking sector for green and sustainable lending and contribute to
inclusive economic growth in the country.

 

Vakhtang Butskhrikidze, CEO of JSC TBC Bank, said: "We are proud to announce
completion of another excellent transaction with Proparco- already our third
successful project together. This Facility reflects both institutions' strong
commitment to support the sustainable growth of local businesses, particularly
improving access to finance for female entrepreneurs and promoting green
investments in Georgia, thereby, contributing to job-creation and bringing
long lasting benefits to the country. The signing of this facility is a
significant milestone in our partnership, and we look forward to working with
Proparco on many more successful deals in the future."

 

Stéphane Froissardey, Regional Director for Turkey, Caucasus, Central Asia,
Balkans and Eastern Europe, said: "Proparco is very proud to sign this new EUR
100 million transaction with TBC Bank. This facility will support TBC's
efforts to grow its sustainable portfolio, targeting both climate and gender
finance, which are key priorities for Proparco in the region. This landmark
transaction is by far Proparco's largest financing in the country, following
which Proparco is becoming TBC's third largest lender. Proparco's facility
represents a commitment from France to support responsible and sustainable
players in the financial sector and, more generally, to stand by the Georgian
nation as a whole, at a critical time when Georgia is being granted candidate
status by the EU."

 

About Proparco

Proparco, a subsidiary of Agence Française de Développement Group, has been
working with the private sector for over 45 years for a more just and
sustainable world. With an international network of 23 local offices, Proparco
works closely with its partners to build sustainable solutions in response to
environmental and social challenges in Africa, the Middle East, Asia and Latin
America. Proparco benefits from sector-based expertise as well as a wide range
of financial solutions tailored to the different stages of business
development, notably thanks to its Digital Africa subsidiary, and its Propulse
technical assistance offering designed to scale up the impacts and performance
of its partners. Proparco's new "Acting together for greater impact" Strategy
2023-2027 enables, strengthens and amplifies the different ways in which it
works with its partners. To learn more: http://www.proparco.fr/en/strategy
(http://www.proparco.fr/en/strategy) .

For more information, go to: http://www.proparco.fr/en
(http://www.proparco.fr/en) and @Proparco (https://twitter.com/Proparco)
LinkedIn (https://www.linkedin.com/company/1337207)

 

 

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%3A/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.

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  AGRUPGWGPUPWGCC