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TBC Bank Wants to Manage Pension Assets

TBC Bank Wants to Manage Pension Assets

Establishment of Asset Management Fund by TBC Bank before the pension reform is a part of this campaign.

“We want to be the first, successful, gain experience and meet the system ready”, – Vakhtang Butskhirikidze, general director of TBC Bank has announced.

He noted about the investment expansion, strengthening of  TBC’s capital and fund formation.

According to him, qualified fund of asset management is not at the market yet. TBC is the first, but Vasil Revishvili, representative of University of Bank of Georgia and successful manager of competitor bank is also represented in the team.

The structure of the fund is European and it is managed by the licensed company in Europe, which managers are professionals with high experience, including Temo Cheishvili.

As known, according to the reform announced by the government, pensioners should get benefit from the sum accumulated in the pension fund.

Butskrikidze does not talk about the establishment of insurance company, but declares that this internationally proven successful practice. He notes, that bank sells products of insurance companies during the years.