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Report on JSC Terabank Performance in 2016

The year of 2016 was a period of significant challenges for Terabank. The bank has coped with all challenges successfully. Small and medium business sectors (SME) represent a main target segment for the Bank. At the end of the year, Terabank’s market ratio rose by 1.2% to 4.4%.

Terabank has met the year of 2017 with a 43% growth in  SME credit portfolio and a 20% upturn in number of clients.

In 2015, after 17-year history of Bank existence, it was decided to revise business strategy and it became necessary to change the bank’s appearance and communication model. Following visual revision of the concept, Terabank team has introduced new service standards, improved products with the aim to provide maximal comfort for clients.

«In 2016, based on the bank’s business strategy, a unique product was created for micro and SME clients – Tariff Partner. The product provides special comfort for companies in everyday bank operations. The bank has also introduced a special offer for microbusiness companies – 10% of interest rates paid for a year is returned back in case of borrowing a loan», Akaki Sanikidze, head of product development department, noted.

At the end of 2016 Terabank provided support for major startup event with participation beginner and successful entrepreneurs of 16 different industries. At Startup Market Terabank offered special package for entrepreneurs – free service for all bank operations and cards for 6 months.

Terabank has introduced several special products on the retail market, including Flex Deposit, which protects clients from unexpected cases. It is a type of term deposit with special flexible conditions. Unlike other term deposits, in case of withdrawal of sum in advance, interest rate is charged due to the amount of the effective time.

In 2016 Terabank’s Travel Card was very popular that enables the owner to withdraw money free of charge from any ATM, carry out online payments at trade and service outlets.

In 2017 Terabank will continue working on business strategy developed in 2016 and plans to intensify efforts in small and medium business directions and improve products.

Comfort of Finance House is also expressed in diversity of distant channels. Mobile Bank application of Terabank simplifies management of own accounts. In the near future a new Internet bank will be launched with flexible and functional interface.

E-commerce direction has become very popular in contemporary business and in 2016 Terabank intensified efforts in this direction too. The bank plans to improve the service and transform i into an attractive product for small and medium business sectors.

Along with diverse products, Terabank is expanding the network of branches all over Georgia.

Currently, Terabank owns 23 branches and service centers in Georgia under My Finance House concept. The figure is expected to rise to 27 service centers in 2017.