REG - TBC Bank Group PLC - TBC and Proparco sign a USD 50 mln loan agreement

TBC BankAnnouncement

01/02/2022 08:05

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RNS Number : 2886A  TBC Bank Group PLC  01 February 2022

TBC and Proparco sign a USD 50 million loan agreement to support SMEs in
Georgia

 

TBC Bank Group PLC ("TBC PLC") announces that its subsidiary, JSC TBC Bank
("TBC Bank"), has signed a loan agreement in the amount of USD 50 million with
Proparco. The facility will finance investments and the working capital needs
of Georgian small and medium-sized businesses (SMEs).

 

TBC Bank being the number one player and contributor in all segments offering
diversified product range to businesses, including SME, this facility will
enable to further support this segment and strengthen its position on the
market. This transaction further reinforces partnership between Proparco and
TBC Bank.

 

Vakhtang Butskhrikidze, CEO, TBC Bank, commented:

"We are delighted to continue and further strengthen our cooperation with
Propacro. This transaction reflects both institutions' strong commitment to
support, small and medium-sized enterprises (SMEs) in Georgia, one the most
important contributors to economic growth and job creation in the country.
This is our second co-operation and we look forward to working with Propacro
on many more successful deals in the future."

 

Stéphane Froissardey, Regional Director for Turkey, Caucasus, Central Asia,
Balkans and Eastern Europe:

 "We are glad to renew our collaboration to support the Georgian SME sector,
through a credit facility that will be 100% on-lent by TBC to its SME clients!
It will support and encourage the bank's strategy towards SMEs, and strengthen
the partnership started between our institutions 10 years ago.

 

About Proparco

Proparco is the private sector financing arm of Agence Française de
Développement Group (AFD Group). It has been promoting sustainable economic,
social and environmental development for over 40 years. Proparco provides
funding and support to both businesses and financial institutions in Africa,
Asia, Latin America and the Middle-East. Its action focuses on the key
development sectors: infrastructure, mainly for renewable energies,
agribusiness, financial institutions, health and education.

 

Its operations aim to strengthen the contribution of private players to the
achievement of the Sustainable Development Goals (SDGs) adopted by the
international community in 2015. To this end, Proparco finances companies
whose activity contributes to creating jobs and decent incomes, providing
essential goods and services and combating climate change. For a World in
Common.

 

For further information: http://www.proparco.fr (http://www.proparco.fr) and
@Proparco (https://twitter.com/Proparco)

 

For further enquiries, please contact:

Director of International Media and Investor Relations

Zoltan Szalai

 

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 and other closely related fields. TBC PLC also recently expanded its
operations in Uzbekistan. TBC PLC is listed on the London Stock Exchange under
the symbol TBCG and is a constituent of 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 38.4% of customer loans and 40.1% of
customer deposits as of 30 September 2021, according to data published by the
National Bank of Georgia.

 

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