TBC Bank welcomes statements of support from its long-standing partners
TBC Bank Group PLC welcomes yesterday's statements of support by two of its long-standing partners, the European Bank for Reconstruction and Development ("EBRD") and the International Finance Corporation ("IFC") in the context of the appointment of new Chairman, Nikoloz Enukidze. That appointment followed the decisions by the Chairman and Deputy Chairman to step down in order to focus on refuting the claims made against them and to ensure that those claims do not affect the Bank.
EBRD's statement is available on its website at: www.ebrd.com
IFC's statement is available on its website at: www.ifc.org
Vakhtang Butskhrikidze, Chief Executive, commented: "Our relationship with the EBRD and the IFC goes back almost two decades and their co-operation and support with TBC Bank has been instrumental in the development and success of the Bank over the years. We welcome and appreciate their recent public statements of support for TBC Bank. The current attention on certain historic matters and board changes will not distract the Group from focusing on creating shareholder value and we look forward to continuing our successful long-term relationship with them."
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Anna Romelashvili
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About TBC Bank and 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 premium segment of 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 38.4% of loans and 40.4% of non-banking deposits as at 31 March 2019, according to data published by the National Bank of Georgia.
