REG - TBC Bank Group PLC - Changes to the Executive Management Team

TBC BankAnnouncement

09/02/2026 07:00

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RNS Number : 2070S  TBC Bank Group PLC  09 February 2026

George Tkhelidze appointed CEO of TBC Bank Group's Georgian subsidiary, JSC
TBC Bank

 

TBC Bank Group PLC (the "Group") announces changes to the executive management
team of the Group's Georgian banking subsidiary, JSC TBC Bank (the "Bank").

The Supervisory Board of JSC TBC Bank has approved that the responsibility for
the Georgian operations will be assumed by George Tkhelidze, in order to
enable the Group CEO, Vakhtang Butskhrikidze, to focus on the Group's
strategic priorities in Georgia, Uzbekistan and internationally. Mr. Tkhelidze
is appointed as CEO of JSC TBC Bank with effect from 1 March 2026, or such
later date as may be required for the completion of relevant regulatory
approvals.

Mr. Tkhelidze has significant international banking experience and a strong
track record in the Group. He joined the Bank in 2014 as Deputy CEO and Chief
Risk Officer. Since November 2016, he has been head of the Bank's CIB and
Wealth Management businesses. In this role he has led the CIB franchise to a
leading position in the Georgian market. His appointment is intended to
further strengthen the Bank's position across all business segments in
Georgia.

Tornike Gogichaishvili, Deputy CEO and head of MSME and Affluent Banking, will
leave the Bank with effect from 1 March 2026.

Arne Berggren, Chairman of the Board, commented: "The Board fully supports
Vakhtang Butskhrikidze's recommended organisational changes to ensure the
continued strong execution of our strategy in Georgia and to facilitate
increased focus on the Group's ambitions in Uzbekistan and other markets.
George Tkhelidze, who has long been identified as a potential internal
successor as CEO of the Bank, brings strong leadership experience and a proven
track record. He is well positioned to lead our Georgian business."

Vakhtang Butskhrikidze, Group CEO, commented: "At this exciting time in TBC's
story, I aim to dedicate my energy to leading the Group's overall strategic
direction. As Group CEO, I will of course remain highly involved in all
aspects of our businesses across both Georgia and Uzbekistan, as well as
exploring other international opportunities. I am delighted to be succeeded as
CEO of our Georgian subsidiary by George. I have worked with George for over a
decade. He has done a fantastic job leading CIB and Wealth Management, and I
have no doubt he will be a great leader for our Georgian business as a whole
going forward. I would also like to thank Tornike for all his work and
commitment to the Bank over the past eight years, and I wish him the best of
luck in his future endeavours."

George Tkhelidze, incoming CEO of JSC TBC Bank, commented: "It is a great
honour to be succeeding Vakhtang as CEO of TBC Bank in Georgia. It is hard to
overstate the role that Vakhtang has played in the Bank's successful journey
over the past three decades. Under his longstanding leadership, the Bank has
become a highly successful and strong leader in Georgian banking. I am greatly
looking forward to continuing to work with Vakhtang and TBC's excellent team
to further strengthen our leadership position in Georgia in the coming years."

 

 

For further enquiries, please contact:

Director of Investor Relations

Andrew Keeley

Or

Head of Investor Relations

Anna Romelashvili
ir@tbcbank.ge (mailto:ir@tbcbank.ge)

About TBC Bank Group PLC ("TBC PLC")

TBC Bank Group's mission is to make people's lives easier by providing
digitally-led financial services to retail and corporate customers. TBC Bank
Group PLC ("TBC PLC") is a public limited company registered in England and
Wales and is the parent company of TBC Bank Georgia and TBC Uzbekistan.

TBC Bank Georgia, together with its subsidiaries, is the leading financial
services group in Georgia, with a total market share of 37.2% of customer
loans and 37.2% of customer deposits as of 30 September 2025, according to
data published by the National Bank of Georgia.

TBC Uzbekistan is the leading digital banking ecosystem in Central Asia with
22 mln unique registered users that includes TBC Bank Uzbekistan, the
country's largest mobile-only bank, Payme, a leading digital payments app for
individuals and small businesses, and Payme Nasiya, an instalment credit
business.

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.

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