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 TBC Bank Releases Statement: We Categorically Condemn Fabricated Accusations

“In the evening of January 8, several media portals released fraudulent and deliberately distorted information aimed at defaming the reputation of Georgia’s leading financial institution and its founders. 

It is clear that the mentioned information aims to inflict damage to TBC Bank on domestic and international levels.
Based on the above-mentioned, we categorically refuse the accusations fabricated by authors of this orchestrated Black PR and deliberately distorted facts. 

TBC Bank will remain the leading financial institution in the country and the whole region as the best sample of corporate management and responsibility, as recognized by international institutions and investors.

TBC Bank is a leading public company placed at London Stock Exchange, which is represented in the Premium Segment (FTSE250 List) and represents the interest of investors and stakeholders of all five continents of the world.
Regretfully, for the 27-year operation, under all political regimes, the TBC Bank has become the subject of multiple attacks. TBC Bank and its management have overcome a lot of crisis periods and have always proved its truth before all regimes and it will do the same in the future too.
As to the statement released by the prosecutor’s office about taking documents, the case refers to the 2008 ordinary legal bank operation, that:

· was multiply examined by state structures and the National Bank, under the current and previous Authorities;

· its accuracy was examined and confirmed by international auditors several times;

· The most important thing is that in 2014-2016, in relation to placement of TBC Bank shares at LSE, detailed study and positive assessment was provided, including by English regulators:
.at the same time, the mentioned transaction is obsolete.

TBC Bank will not endure attempts for deliberate discreditation and defmation, despite the sources and will exert all efforts, if necessary, all domestic and international legal leverages for protecting legal interests of TBC Bank, its foudners and international stakeholders”, the TBC bank statement reads.