REG - TBC Bank Group PLC - TBC Bank and DEG Sign EUR 30 mln Loan Agreement

TBC BankAnnouncement

15/09/2022 12:45

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RNS Number : 6363Z  TBC Bank Group PLC  15 September 2022

TBC Bank and DEG Sign EUR 30 million Loan Agreement

 

TBC Bank Group PLC ("TBC PLC") announces that its subsidiary, JSC TBC Bank
("TBC Bank"), has signed a EUR 30 million senior loan agreement with DEG -
Deutsche Investitions und Entwicklungsgesellschaft mbH ("DEG"). This
seven-year facility will be designated to finance small and medium-sized
businesses ("SME"s), female entrepreneurs and green projects in Georgia.

Giorgi Megrelishvili, Deputy CEO, TBC Bank, commented:

"We are delighted to continue our long-standing cooperation with DEG, spanning
more than two decades. Throughout our partnership, DEG has provided
diversified financial resources to TBC Bank, mainly supporting the SME sector
in Georgia. This new transaction is further testament to both institutions'
strong commitment to supporting the sustainable economic growth of SMEs,
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. I would like to thank DEG for being a
long-standing partner of TBC Bank and we look forward to working with them on
many more successful deals in the future."

Monika Beck, member of DEG's Management Board, commented:

"DEG is very pleased to continue its partnership with TBC. The transaction
demonstrates DEG's commitment to promoting the greater participation of women
in business and to green financing. TBC and DEG can look back on more than 20
years of successful cooperation and now another exciting part of the joint
journey lies ahead of us."

About DEG

For 60 years, DEG has been financing and advising private enterprises
operating in developing and emerging-market countries. With a portfolio of
around EUR 9.2 billion, it is one of the world's largest private-sector
development financiers. As an impact and climate investor, we assist companies
that are transforming and aiming to seize their opportunities. Our customers
do not only receive financing and advisory solutions tailored to their needs;
they can also build on our market knowledge, our impact and climate expertise
and our international network. In this way, we contribute together to creating
more skilled jobs and local income and to improving value creation on the
ground, in line with the SDGs.

 

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 39.1% of customer loans and 40.7% of
customer deposits as of 30 June 2022, according to data published by the
National Bank of Georgia.

 

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