Last checked at 14 Jul 2020 15:44
TBC Bank announces management change
TBC Bank Group PLC ("TBC PLC") announces that Giorgi Shagidze, its Deputy CEO and Chief Financial Officer today notified the board that he intends to leave the Group at the end of 2020. After leaving the Group, Giorgi intends to explore other opportunities in a different field and/or geography.
TBC PLC will commence a search to identify Giorgi's replacement. Giorgi will continue as CFO, and as an executive director, until the year end in order to ensure an orderly transition to his successor. It is expected that further announcements will be made as to the effective date of his resignation and with details of his replacement later in 2020.
Vakhtang Butskhrikidze, Chief Executive Officer of TBC PLC, commented: "Giorgi Shagidze has been with TBC since 2010 and has been a key member of our management team. His commitment has been crucial in helping to drive the continued success of the Group throughout these years. We wish to thank him for his many contributions in helping to support the success of the Group. We are very confident that the transition will go very smoothly and wish him well for the future."
For further enquiries, please contact: Director of International Media and Investor RelationsZoltan Szalai
Or
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About TBC Bank Group PLC ("TBC PLC")
TBC Bank Group PLC ("TBC PLC") is a public limited company registered in England and Wales. TBC PLC is the parent company of JSC TBC Bank ("TBC Bank") and a group of companies that principally operate in Georgia in the financial sector and other closely related fields. TBC PLC also recently expanded its operations in Uzbekistan. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of the FTSE 250 Index. It is also a member of FTSE4good Index Series.
TBC Bank, together with its subsidiaries, is a leading universal banking group in Georgia, with a total market share of 39.4% of loans and 39.8% of non-banking deposits as of 31 March 2020, according to data published by the National Bank of Georgia.