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TBCG - TBC Bank News Story

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Sector
Financials
Size
Mid Cap
Market Cap £672.9m
Enterprise Value £228.4m
Revenue £322.6m
Position in Universe 491st / 1857

TBC Bank Group PLC - Board Changes

Tue 17th September, 2019 1:29pm
RNS Number : 6382M
TBC Bank Group PLC
17 September 2019
 

Eric Rajendra returns to Board of TBC Bank as Independent Non-Executive Director

TBC Bank Group PLC ("TBC PLC") is pleased to announce the re-appointment of Eric Rajendra as an Independent Non-Executive Director with immediate effect.  In line with TBC's "Mirror Board" policy, Mr. Rajendra will also join Supervisory Board of JSC TBC Bank (the "Supervisory Board") following approval of his appointment by the National Bank of Georgia.

Eric Rajendra has a very good understanding of TBC Bank's strategy and operations and his presence will enhance shareholder value by bringing profound expertise and stability to the Group. 

As announced on 15 March 2019, he stepped down from his roles as a Director of TBC PLC and Supervisory Board member of JSC TBC Bank due to health reasons. Following the recovery in his health, TBC PLC is delighted that he is now able to re-join the Board.

Eric has extensive experience in the financial services industry, with a significant emphasis on emerging markets. He graduated from Brandeis University, earned his M.A.L.D. at The Fletcher School in 1982 (Tufts University in cooperation with Harvard University). From 2005 to 2014, he was a senior adviser to the IFC, whilst also serving as a board director or adviser to several emerging market financial institutions in which the World Bank Group had an equity interest, as well as implementing a number of transformative strategic initiatives. Mr Rajendra was first appointed to the Board of TBC PLC as an Independent Non-Executive Director in May 2016.

Nikoloz Enukidze, Chairman of the TBC PLC Board commented: "We are delighted to welcome Eric Rajendra back to TBC. Eric brings a wealth of experience to the role and a deep knowledge of the Bank, having been a member of our Supervisory Board since 2010 and the Board of TBC PLC since May 2016. His presence will support the Board's continuity and contribute to the sustainable development of the Group."

Vakhtang Butskhrikidze, CEO of TBC Bank commented: "Eric Rajendra is our long-term partner, who has been supporting the Bank for many years and has played a significant role in development of our strategy. I am pleased to welcome him back and look forward to his invaluable input into our future development."

TBC PLC confirms that there are no additional details that are required to be disclosed under LR 9.6.13R of the Listing Rules of the Financial Conduct Authority.

 

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

 

About TBC Bank Group PLC ("TBC PLC")

TBC PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC PLC became the parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of FTSE 250 Index.

TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 38.5% of loans and 41.0% of non-banking deposits as at 30 June 2019, according to data published by the National Bank of Georgia.


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 or visit www.rns.com.
 
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