02 Apr 2019

TBC Bank's GEL 103 mln Loan Funded by FMO Won Best Local Currency Loan Award in CEE

EMEA Finance announced its winning deals and dealmakers of 2018. Nominated by parties including banks and their clients, and chosen by the EMEA Finance editorial team, these organizations and transactions exemplify the innovative work taking place in the region's capital markets.

In October 2018, TBC Bank signed a loan agreement in the amount of GEL 103 million with FMO, the Dutch development bank. The local currency funding was obtained by FMO through a public placement of bonds on the Georgian Stock Exchange. This transaction was selected by EMEA Finance as the Best Local Currency Loan of 2018.

“We are proud to have built such a successful relationship with FMO, TBC Bank’s long-standing partner. During 13 years of partnership, FMO has provided more than USD 350 million in MSME and mortgage loan financing as well as local currency and subordinated loans. Local currency funding is of great importance for the Georgian financial sector. We are delighted this transaction was awarded a special prize, which is a true testament to FMO’s continued support to the development of the financial sector of our country. Moreover, this award reflects both institutions’ commitment to continued cooperation and we look forward to many more years of productive partnership.” commented Vakhtang Butskhrikidze, CEO of TBC Bank.

For further enquiries, please contact:
Director of International Media and Investor Relations
Zoltan Szalai
ir@tbcbank.com.ge

Or

Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge

About FMO
FMO (the Netherlands Development Finance Company) supports sustainable private sector growth in developing and emerging markets, focusing on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With an investment portfolio of EUR 9.6 billion, FMO is one of the largest European bilateral private sector development banks. For more information, please visit www.fmo.nl.

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.
TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 38.8% of loans and 41.2% of non-banking deposits as at 31 December 2018, according to data published by the National Bank of Georgia.