TBC Bank Wins the Most Active Issuing Bank in Georgia in 2013 Award from EBRD
TBC Bank was awarded the Most Active Issuing Bank in Georgia in 2013 under the EBRD Trade Facilitation Programme (TFP). The annual awards ceremony is held during the EBRD Annual Meeting and Business Forum and recognizes the TFP partner banks that have conducted the highest number of guarantee transactions during the year.
“We are honored to win this prestigious award from EBRD, our long-standing partner in Georgia. This acknowledgement is a testament to the distinguished professionalism, high quality of service and sustained focus on innovative product offerings of TBC Bank’s Trade Finance team," commented Vakhtang Butskhrikidze, Chief Executive Officer.
This is the second such recognition for TBC Bank, which has won the award in 2009 as well. In 2013, TBC Bank also became a confirming bank under the EBRD TFP, allowing the Bank to offer more comprehensive trade finance services to its customers.
About the EBRD TFP
The Trade Facilitation Programme has been running successfully since 1999 and aims to promote foreign trade to, from and amongst the EBRD's countries of operation. The TFP strengthens the ability of local banks to provide trade financing and through these banks gives entrepreneurs throughout the EBRD's countries of operation the support they need to increase their access to import and export trade. Additional information on the TFP is available from the EBRD website.
JSC TBC Bank is a leading universal bank in Georgia, offering a broad range of products and services through its extensively developed corporate, retail, SME and micro banking business lines. The latter is being developed following TBC Bank's acquisition in 2011 of Bank Constanta, the fastest growing financial institution in Georgia focused on the micro segment. As at 31 March, 2014, TBC's loan book comprised retail, corporate, SME and micro portfolios with 43%, 36%, 14% and 7%, respectively, of the total loan portfolio. TBC Bank is the market leader in Georgia in retail deposits with a 33% market share, retaining its leading position in the segment for more than seven years. In terms of total assets and total loans TBC maintains a leading position with market shares of 25% and 26% respectively as at 31 March 2014. TBC Bank is assigned BB- (Long Term IDR)/B (Short Term IDR) rating from Fitch and B1 (FC)/Ba3 (LC) from Moody’s.