TBC Bank Group PLC TBC Bank Signs Loan Agreement with OeEB (1434X)
22 November 2017 - 2:21AM
UK Regulatory
TIDMTBCG
RNS Number : 1434X
TBC Bank Group PLC
21 November 2017
TBC Bank Signs USD 30 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 USD 30 million with Oesterreichische Entwicklungsbank AG
(OeEB) the Development Bank of Austria.
The funds will be primarily used to finance rural areas outside
of Tbilisi, MSMEs active in tourism and women-owned MSMEs.
"We are very pleased to start co-operation with OeEB. This is
our first transaction and we do hope that this operation will pave
the way for a successful and long-term relationship between our
institutions," commented Vakhtang Butskhrikidze, Chief Executive
Officer of TBC Bank
"Supporting MSMEs is one of our major goals at OeEB. With this
credit line we are able to contribute to development impacts like
gender equality and the development of rural areas as well as the
growing tourism sector," say Andrea Hagmann and Michael Wancata,
members of the Executive Board of OeEB.
For further enquiries, please contact:
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.
TBC Bank, together with its subsidiaries, is the leading
universal banking group in Georgia, with a total market share of
38.2% of loans and 38.6% of non-banking deposits as at 30 September
2017, according to the data published by the National Bank of
Georgia.
About OeEB
Oesterreichische Entwicklungsbank AG (OeEB) has been operating
as the Development Bank of Austria since March 2008. It specialises
in the provision of long-term finance for the implementation of
private sector projects in developing countries which create
sustainable development. Additionally, OeEB provides technical
assistance, which can be used to enhance the developmental impact
of projects. For more information, please visit
http://www.oe-eb.at/
This information is provided by RNS
The company news service from the London Stock Exchange
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