REG - TBC Bank Group PLC - TBC Bank and FMO Sign GEL 300 mln Loan agreement

TBC BankAnnouncement

09/08/2022 10:00

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RNS Number : 4134V  TBC Bank Group PLC  09 August 2022

TBC Bank and FMO Sign GEL 300 million Loan agreement

 

TBC Bank Group PLC ("TBC PLC") announces that its subsidiary, JSC TBC Bank
("TBC Bank"), has signed a GEL 300 million loan agreement with FMO, the Dutch
entrepreneurial development bank. This five year, local-currency facility will
primarily be used to finance young entrepreneurs and mortgage borrowers, green
projects, as well as micro, small and medium size enterprises in Georgia.

 

Mr. Vakhtang Butskhrikidze, CEO, TBC Bank, commented:

"We are proud to have an impressive track record of successful cooperation
with FMO spanning more than sixteen years, which is a testament to our truly
efficient working relationship. This is our second collaboration on a local
currency facility since 2018. Facilities of this kind are very important for
us as they support the de-dollarization of the Georgian economy and provide
highly needed long-term, local-currency loans to our business and retail
customers. I would like to thank FMO for being a long-standing supporter of
TBC Bank and we look forward to working with them on many more successful
deals in the future".

 

 

Huib-Jan de Ruijter, Chief Investment Officer FMO, said:

"FMO is thrilled to support our long-term partner TBC Bank once again with
this latest round of financing in much-needed local currency, contributing to
the de-dollarization of Georgia's economy. This facility also aligns perfectly
with our broader FMO strategy of reducing inequalities and supporting
financial inclusion, with an emphasis on youth and MSME entrepreneurs, thus
positively contributing to job creation and retention across the country.
Above all, we look forward to our sustained collaboration with TBC in the
future."

 

 

About FMO

FMO is the Dutch entrepreneurial development bank. As a leading impact
investor, FMO supports sustainable private sector growth in developing
countries and emerging markets by investing in ambitious projects and
entrepreneurs. FMO believes that a strong private sector leads to economic and
social development and has a 50-year proven track record of empowering people
to employ their skills and improve their quality of life. FMO focuses on three
sectors that have a high development impact: financial institutions, energy,
and agribusiness, food & water. With a committed portfolio of EUR 12.1
billion spanning over 85 countries, FMO is one of the larger bilateral private
sector developments banks globally. For more information: please visit
www.fmo.nl (http://www.fmo.nl)

 

 

 

 

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 38.9% of customer loans and 40.3% of
customer deposits as of 31 March 2022, according to data published by the
National Bank of Georgia.

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