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IN BRIEF: TBC Bank Group agrees loan facility with EBRD

Tue, 14th Nov 2023 12:06

TBC Bank Group PLC - Tbilisi-based lender - Subsidiary, JSC TBC Bank, signs a subordinated loan agreement for USD30 million with European Bank for Reconstruction & Development. The funding provided by the EBRD will strengthen TBC's capital structure and support the bank's sustainable growth, it says. The loan facility bears maturity of ten years.

Chief Executive Vakhtang Butskhrikidze says: "I am delighted that our strategic partnership with the EBRD continues with another excellent transaction. This subordinated loan facility will strengthen TBC's capital structure and increase the bank's long-term resilience."

Current stock price: 2,720.00 pence

12-month change: up 24%

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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