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TBC Bank and DEG Signed 70 Million USD Loan Agreement

TBC Bank attracted 70 million USD financial resource from Investment and Development Society DEG, which will be allocated for small and medium business financing for 7 years.

“We are delighted with the professionalism of TBC Bank management and high quality products and services offered to small and medium businesses. We are proud to sign a loan agreement with TBC Bank because we believe this resource will help bank clients to develop and create jobs for the country, “said Petra Kote, head of DEG’s financial institutions and German business enterprises.

“We are proud that TBC Bank is the DEG’s long-term partner. Within 20 years of successful cooperation, DEG has assisted TBC Bank in investing in many loan products, technical assistance programs and equity. This transaction once more emphasizes the successful cooperation of these two institutions and we hope that this partnership will continue in the future, “said Vakhtang Butskhrikidze, General Director of TBC Bank.

DEG has more than 55 years of experience in developing markets for private organizations. Support includes both financial resources and individual recommendations.

As of 31 March 2018, DEG’s total credit portfolio is 37.8%, while the deposit portfolio is 38.9%.