Last checked at 1 Aug 2019 13:08
TBC Bank and Citibank sign CARTA Agreement
TBC Bank Group PLC ("TBC PLC") announces that its subsidiary, JSC TBC Bank ("TBC Bank"), has signed a Continuing Agreement for Reimbursement of Trade Advances ("CARTA") with Citibank. The trade finance framework agreement will primarily be used to finance trade activities of local importers and exporters in Georgia.
Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank commented:
"Signing the CARTA represents a significant milestone in our partnership with Citibank. The credit line will further support Georgian trade finance sector. CARTA reflects a clear commitment by both parties to further support export and import transactions in the country and strengthen TBC's position in the trade finance market."
About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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 and 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 38.5% of loans and 41.0% of non-banking deposits as at 30 June 2019, according to data published by the National Bank of Georgia.