TBC Bank Signs USD 30 Million Loan Agreement
TBC Bank Group PLC ("TBC PLC") announces that its subsidiary, JSC TBC Bank ("TBC Bank"), has signed a loan agreement in the amount of USD 30 million with Oesterreichische Entwicklungsbank AG (OeEB) the Development Bank of Austria.
The funds will be primarily used to finance rural areas outside of Tbilisi, MSMEs active in tourism and women-owned MSMEs.
"We are very pleased to start co-operation with OeEB. This is our first transaction and we do hope that this operation will pave the way for a successful and long-term relationship between our institutions," commented Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank
"Supporting MSMEs is one of our major goals at OeEB. With this credit line we are able to contribute to development impacts like gender equality and the development of rural areas as well as the growing tourism sector," say Andrea Hagmann and Michael Wancata, members of the Executive Board of OeEB.
For further enquiries, please contact:
Head of Investor Relations
Anna Romelashvili
[email protected]
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.
TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 38.2% of loans and 38.6% of non-banking deposits as at 30 September 2017, according to the data published by the National Bank of Georgia.
About OeEB
Oesterreichische Entwicklungsbank AG (OeEB) has been operating as the Development Bank of Austria since March 2008. It specialises in the provision of long-term finance for the implementation of private sector projects in developing countries which create sustainable development. Additionally, OeEB provides technical assistance, which can be used to enhance the developmental impact of projects. For more information, please visit http://www.oe-eb.at/
