TBC Bank Group PLC TBC and Proparco sign a EUR 100 mln loan agreement (6031V)
04 Dicembre 2023 - 3:16PM
UK Regulatory
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RNS Number : 6031V
TBC Bank Group PLC
04 December 2023
TBC and Proparco sign a EUR 100 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 EUR 100 million with Proparco. The loan facility bears a
maturity of seven years and will be primarily used to finance
climate related investments and female entrepreneurs in Georgia.
The facility will reaffirm TBC's leadership position in the
Georgian banking sector for green and sustainable lending and
contribute to inclusive economic growth in the country.
Vakhtang Butskhrikidze, CEO of JSC TBC Bank, said : "We are
proud to announce completion of another excellent transaction with
Proparco- already our third successful project together. This
Facility reflects both institutions' strong commitment to support
the sustainable growth of local businesses, particularly improving
access to finance for female entrepreneurs and promoting green
investments in Georgia, thereby, contributing to job-creation and
bringing long lasting benefits to the country. The signing of this
facility is a significant milestone in our partnership, and we look
forward to working with Proparco on many more successful deals in
the future."
Stéphane Froissardey, Regional Director for Turkey, Caucasus,
Central Asia, Balkans and Eastern Europe, said: "Proparco is very
proud to sign this new EUR 100 million transaction with TBC Bank.
This facility will support TBC's efforts to grow its sustainable
portfolio, targeting both climate and gender finance, which are key
priorities for Proparco in the region. This landmark transaction is
by far Proparco's largest financing in the country, following which
Proparco is becoming TBC's third largest lender. Proparco's
facility represents a commitment from France to support responsible
and sustainable players in the financial sector and, more
generally, to stand by the Georgian nation as a whole, at a
critical time when Georgia is being granted candidate status by the
EU."
About Proparco
Proparco, a subsidiary of Agence Française de Développement
Group, has been working with the private sector for over 45 years
for a more just and sustainable world. With an international
network of 23 local offices, Proparco works closely with its
partners to build sustainable solutions in response to
environmental and social challenges in Africa, the Middle East,
Asia and Latin America. Proparco benefits from sector-based
expertise as well as a wide range of financial solutions tailored
to the different stages of business development, notably thanks to
its Digital Africa subsidiary, and its Propulse technical
assistance offering designed to scale up the impacts and
performance of its partners. Proparco's new "Acting together for
greater impact" Strategy 2023-2027 enables, strengthens and
amplifies the different ways in which it works with its partners.
To learn more: http://www.proparco.fr/en/strategy .
For more information, go to: http://www.proparco.fr/en and
@Proparco LinkedIn
For further enquiries, please contact:
Director of Investor Relations and International Media
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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