TIDMTBCG
RNS Number : 7422F
TBC Bank Group PLC
11 March 2020
Annual Partners' Day 2020
On February 27, 2020 TBC Bank held its annual meeting with
partners, which was attended by around 250 business and government
representatives, led by the Georgian Prime Minister, Mr. Giorgi
Gakharia.
TBC Bank CEO, Vakhtang Butskhrikidze, his deputies, George
Tkhelidze and Nika Kurdiani, and TBC Chief Economist Otar Nadaraia
presented an overview of the company's achievements and results in
2019 as well as the company's development strategy and future plans
for 2020.
Giorgi Gakharia, Prime Minister of Georgia commented:
"TBC is a systemic bank. TBC, just like the entire banking
system of Georgia, plays a very important role in the country's
macroeconomic stability and in ensuring synergy and effective
cooperation among the state, the regulator and the banking system.
This is our goal. The government may expect more social
responsibility from businesses, including from the banking
business. We should be more interested in the development of not
only the banking system, but also in the advancement of the entire
financial sector. Everything has its own time; however, what is
most important is that we have a good, balanced cooperation, and I
believe the balance that we have reached recently, particularly
between the state and the banking system, will serve as the
foundation for the future success of the banking sector in
2020."
Vakhtang Butskhrikidze, CEO of TBC Bank commented:
"The advancement of any business contributes to the growth of
the country's economy. We are very proud that the number of
businesses we support each year is growing: this is evidenced by
the financial results of 2019, which we achieved through the joint
efforts of our team. In general, TBC's mission is to make people's
lives easier. That is why the products and services that we create
for businesses are tailored to their needs and requirements. The
ambitious goals set for 2020 and the quality of customer service we
offer give me confidence that TBC will achieve exceptional results
this year."
George Tkhelidze, deputy CEO of TBC Bank commented:
"2019 was a very strong year for TBC in business segment growth.
Corporate lending growth amounted to 46.7% YoY and was well
diversified across the large and mid-corporate segments. Lending to
most business sectors grew by high double digits and translated
into several hundred successful new projects. Our Trade Finance
business growth was 39% and we hold a 50% market share. Our market
leading positioning has been recognized by Euromoney and Global
Finance, as well as by our international financial partners - EBRD,
ADB, Commerzbank. The Corporate DCM market grew by 105% to GEL
1.7bn, to which our Investment Banking subsidiary TBC Capital
contributed with 64% of transactions originating in 2019."
During the meeting, TBC Bank presented 2019 financial results
that showed that TBC is the leading bank in Georgia. In 2019, the
Bank's loan portfolio grew by 22.1% and amounted to 39.5% of the
banking sector's loan market, while TBC deposits made up 39.0% of
the overall deposits market. The loan book growth was mainly driven
by an increase in the corporate and micro, small and medium (MSME)
business segments. Lending to businesses in the corporate sector
increased by 46.7%, while lending to MSMEs increased by 18.1%.
The largest share of borrowing in the corporate sector comes
from the energy, real estate, food industry and hotel sectors. The
MSME sector is focused on agriculture, hotels and trade.
TBC is also a leader in the retail segment, serving 2.5 million
customers. In 2019, the retail loan portfolio grew by 7.5%, largely
driven by the growth in mortgage lending. Currently, TBC's market
share is 40.0% in retail loans and 37.9% in retail deposits.
The financial resources attracted to the economy by TBC in 2019
amounted up to $500 million. This includes $425 million raised by
the bank in the international financial markets through two
successful bond offerings.
2019 was also a successful year for TBC in terms of
international expansion. TBC Bank has obtained a preliminary
license for banking in Uzbekistan, which is a significant step
forward in conducting banking operations in the country. TBC plans
to obtain the final license and start banking operations in the
summer of 2020.
TBC has also actively been developing its payments business.
Payme, a leading payment company in Uzbekistan, already serves 1.8
million customers. In 2019, Payme's revenue increased by 84% and
reached GEL 8.6 million.
Another development is the planned introduction of TBC's Digital
Bank SPACE in the international marketplace.
Over the past year, TBC Bank has won a number of awards from
international financial publications. Global Finance named TBC the
world's best bank in mobile banking. The Banker, Global Finance,
Euromoney and Emeafinance also named TBC the best bank in
Georgia.
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 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
39.5% of loans and 39.0% of non-banking deposits as at 31 December
2019, according to data published by the National Bank of
Georgia.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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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