TBC Bank Group PLC EBRD Agrees Subordinated Loan Facility with TBC (4106T)
14 Novembre 2023 - 12:44PM
UK Regulatory
TIDMTBCG
RNS Number : 4106T
TBC Bank Group PLC
14 November 2023
EBRD Agrees Subordinated Loan Facility with TBC Bank
TBC Bank Group PLC ("TBC PLC") announces that its subsidiary,
JSC TBC Bank ("TBC Bank"), has signed a subordinated loan agreement
in the amount of USD 30 million with the European Bank for
Reconstruction and Development ("EBRD"). The funding provided by
the EBRD will strengthen TBC's capital structure and support the
bank's sustainable growth. The loan facility bears a maturity of
ten years and qualifies as Tier II capital under the Basel 3
framework. Within this transaction, TBC also becomes the first
partner bank for EBRD in the Caucasus region to commit to
developing the Paris Alignment transition plan and starting
multi-year cooperation with EBRD on the Paris Alignment.
Alkis Vryenios Drakinos, EBRD Regional Director for the
Caucasus, said : "The EBRD is committed to supporting its
long-standing partner, TBC Bank, in embarking on a transformational
journey to develop and implement a plan, which will advance its
climate business practices in line with the best international
standards."
Vakhtang Butskhrikidze, CEO of JSC TBC Bank, said : "I am
delighted that our strategic partnership with the EBRD continues
with another excellent transaction. This subordinated loan facility
will strengthen TBC's capital structure and increase the Bank's
long-term resilience. I am also particularly proud that TBC is the
first EBRD partner bank in the region to develop Paris Alignment
transition plan and commit to progressively align TBC's business
practices with the Paris Agreement goals. I would like to thank the
EBRD for its continued support and look forward to working with
them on many more successful deals in the future".
About the EBRD
The EBRD is a leading institutional investor in Georgia. Since
the start of its operations there, it has invested more than EUR5
billion in 28 8 projects in the financial, corporate,
infrastructure and energy sectors, with 81 per cent of these
investments in the private sector.
For further enquiries, please contact:
Director of International Media and Investor Relations
Andrew Keeley
Or
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About TBC Bank Group PLC ("TBC PLC")
TBC Bank Group PLC ("TBC PLC") is a public limited company
registered in England and Wales. TBC PLC is the parent company of
JSC TBC Bank ("TBC Bank") and a group of companies that principally
operate in Georgia in the financial sector. TBC PLC also offers
non-financial services via TNET, the largest digital ecosystem in
Georgia. Since 2019, TBC PLC has expanded its operations into
Uzbekistan by operating fast growing retail digital financial
services in the country. 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.
TBC Bank, together with its subsidiaries, is a leading universal
banking group in Georgia, with a total market share of 39.1% of
customer loans and 37.5% of customer deposits as of 30 September
2023, according to data published by the National Bank of Georgia
on the analytical tool Tableau.
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