Changes in TBC Bank's Management Board
TBC Bank Group PLC ("TBC PLC") together with its subsidiary JSC TBC Bank ("TBC Bank") announces that Paata Gadzadze, First Deputy CEO of TBC Bank, is stepping down from the management board of TBC Bank as of 1 January 2019. He will continue to serve as Chief Executive Officer of TBC Insurance, a fully-owned subsidiary of TBC PLC and the second largest player in Georgia's property and casualty insurance market. Given the fast growth and ambitious plans of TBC Insurance, Mr. Gadzadze's full-time engagement in the business has become essential.
Mr. Gadzadze joined TBC Bank in 1994, has served in various positions, and was appointed as First Deputy CEO in 1998.
"For more than 25 years, Paata, as a key member of the management team, has been working side by side with me to bring the Bank to this level. I would like to thank him very much for his invaluable contribution to the Bank. I am confident that he will help bring TBC Insurance to the next level", commented Vakhtang Butskhrikidze, Chief Executive Officer.
For further enquiries, please contact:
Director of International Media and Investor Relations Head of Investor Relations
Zoltan Szalai Anna Romelashvili
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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 38.4% of loans and 40.3% of non-banking deposits as at 30 September 2018, according to data published by the National Bank of Georgia.
