TBC Bank Group PLC TBC Bank and Citibank sign CARTA Agreement (6005H)
01 Agosto 2019 - 2:08PM
UK Regulatory
TIDMTBCG
RNS Number : 6005H
TBC Bank Group PLC
01 August 2019
TBC Bank and Citibank sign CARTA Agreement
TBC Bank Group PLC ("TBC PLC") announces that its subsidiary,
JSC TBC Bank ("TBC Bank"), has signed a Continuing Agreement for
Reimbursement of Trade Advances ("CARTA") with Citibank. The trade
finance framework agreement will primarily be used to finance trade
activities of local importers and exporters in Georgia.
Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank
commented:
"Signing the CARTA represents a significant milestone in our
partnership with Citibank. The credit line will further support
Georgian trade finance sector. CARTA reflects a clear commitment by
both parties to further support export and import transactions in
the country and strengthen TBC's position in the trade finance
market."
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
For further enquiries, please contact:
Director of International Media and Investor Relations
Zoltan Szalai
Or
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
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 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
38.5% of loans and 41.0% of non-banking deposits as at 30 June
2019, according to data published by the National Bank of
Georgia.
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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