Completion of the Acquisition of JSC Bank Republic
TBC Bank Group PLC, in conjunction with its subsidiary JSC TBC Bank, announces that completion of its acquisition of JSC Bank Republic took place today. Société Générale and EBRD have together received cash consideration of USD 100,858,342 in total and are expected to be issued with, in aggregate, 2,998,305 new ordinary shares in TBC Bank Group PLC tomorrow. As a result of the transaction, TBC Bank Group PLC together with its subsidiary, JSC TBC Bank, will own 100% of JSC Bank Republic's issued share capital.
It is expected that the admission to listing of the new TBC Bank Group PLC ordinary shares on the premium listing segment of the Official List and the admission to trading of the new TBC Bank Group PLC ordinary shares on the London Stock Exchange's main market for listed securities will take place at 8.00 a.m. tomorrow, 21 October 2016.
ENDS
Enquiries:
TBC Bank
Sean Wade, Director of International Media and IR, TBC Bank
E-mail: [email protected]
Tel: +44 (0) 7464 609025
For further information: http://tbcbankgroup.com/
J.P. Morgan Cazenove
Salma Kalisvaart / Igor Perekolski
Tel: +44 207 134 8990
About TBC Bank
TBC Bank is one of the leading universal banking groups in Georgia and provides a wide range of services across retail, corporate, SME and micro banking to over 1.7 million clients. The Group has a diversified multichannel platform that comprises 130 branches, one of the largest networks of ATMs and POS terminals in Georgia as well as internet and mobile banking. TBC Bank employs c.5200 people.
TBC Bank holds the number one position in retail deposits, the number two position in loans (both to individuals and to legal entities) and in corporate deposits, according to NBG data, and has particular expertise in the fast-growing SME and micro sectors, where TBC Bank considers itself a market leader.
TBC Bank management team has a strong track record of integrating acquired assets within the group perimeter and extracting synergies including acquisition of micro loans portfolio from ProCredit Bank in 2015, acquisition of Bank Constanta in 2014 and acquisition of SOA Kredit in 2007.
As at 30 June 2016, TBC Bank had gross assets of GEL 6.8 billion, gross loans and customer deposits of GEL 4.7 billion and GEL 4.3 billion, respectively, and total equity of GEL 1,315 million. TBC's profit was GEL 139.2 million for the six months ended 30 June 2016 and GEL 218.7 million for the year ended 31 December 2015.
IMPORTANT NOTICE
This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond TBC Bank's control and all of which are based on its respective directors' current beliefs and expectations about future events. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. Any forward- looking statements reflect TBC Bank's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to TBC Bank's business, results of operations, financial position, liquidity, prospects, growth and strategies. Forward-looking statements speak only as of the date of this announcement and cannot be relied upon as a guide to future performance. Each of TBC Bank, and JSC TBC Bank and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise, unless required to do so by applicable law or regulation.
