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TBC Bank Being Investigated by Georgia National Bank

TBC Bank Group Plc said on Wednesday that its unit was being investigated by the National Bank of Georgia (NBG) and the country’s office of public prosecution, relating to certain transactions that took place in 2007 and 2008. The investigation alleges that certain transactions between TBC Bank’s unit in Georgia …

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TBC to Face International Competition by Entering Uzbekistan

One such player that has already thrown its hat into the ring is TBC Bank, Georgia’s largest lender. CFO Giorgi Shagidze agrees that the bank’s hard-won experience in its home market will give it a competitive edge in Uzbekistan. “The current reform drive in Uzbekistan resembles that of Georgia,” he told  Euromoney. …

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Summary of Gross External Debt of Georgia

Gross external debt statistics are harmonized with BOP statistics. They include both public sector (general government, public corporations and national bank) and private sector (banking and other sectors) external debt. External debt statistics are compiled according to the methodology provided by the IMF’s “External Debt Statistics: Guide for Compilers and …

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TBC Enters Uzbekistan Market

TBC Bank is getting ready to launch operation on the Uzbekistani market and introduce its digital neobank – Space, Giorgi Shagidze, TBC Bank financial director told Euromoney. Georgia’s first 100% digital bank was introduced in May 2018, including a remote opening of a bank account, option for attaching all bank …

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Finance Sector Hails Cartu Foundation for Transaction of the Year

The year 2018, which was previously announced as the year of financial education, brought some special benefits to 600 000 borrowers, as their debts were annulled. The Cartu Foundation bought off bad loans from the bank as well as nonbank organizations, and all debts were written off. The CreditInfo database has …

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TBC to Award 200 Children with Scholarships in 2019

TBC has presented the report to the society and introduced the projects implemented within the framework of corporate social responsibility. The company’s CSR projects are united around 5 different directions. These are: Business Support, Heritage, Culture, TBC Team, Future Generation. The last one will be a special niche for TBC …

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Figures at Commercial Banks Loan Portfolio Summed Up

The volume of lending by commercial banks (including loans to non-residents) in November 2018 increased by 336.1 million GEL or by 1.3 percent compared to the previous month (exchange rate effect excluded volume of lending increased by 1.6 percent) and constituted 26.1 billion GEL by December 1, 2018. The volume …

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Georgian Banks Earned 90 Million in Profit in November

October was the most profitable month for the banking sector in 2018. The banks’ net profit amounted to  89.9 million in November. A profit of 103 million in October still remains the highest figure. Whether this December will exceed the rate of previous year – 153 million should become clear …

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Fitch Affirms Halyk Bank Georgia at ‘BB-‘

Fitch Ratings has affirmed Halyk Bank Georgia’s (HBG) Long-Term Issuer Default Rating (IDR) at ‘BB-‘ with a Positive Outlook. Fitch has also assigned the bank a Viability Rating (VR) of ‘b+’. A full list of rating actions is at the end of this rating action commentary. HBG’s IDRs and Support …

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EBRD Provides €6.8 million to TBC Bank For construction of Renewable Energy Source

EBRD provides €6.8 million to TBC Bank that will support the development and construction of another renewable energy source resulting in a reduction of greenhouse gas emissions and Georgia’s carbon intensity. The transition impact stems from the fact that the Project envisions development of another renewable energy generation source, thus assisting Georgia’s …

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