EBRD is Reducing its Stake in TBC Bank

The European Bank for Reconstruction and Development (EBRD) reduced its stake in TBC Bank. The bank placed and sold 850,000 shares on the London Stock Exchange (LSE) in an accelerated manner.

The shares sold on November 22 are 1.5 percent of the total shares of TBC Bank. In addition, the EBRD retains a 3.5 percent stake in its long-term partner.

According to the organization, as a permanent shareholder, the EBRD remains committed to TBC Bank and supports it in its regional expansion.

EBRD acquired shares of TBC Bank in 2009 as part of a wider financing package. Subsequently, the bank was successfully listed on the London Stock Exchange, and in 2016 it moved into the premium segment of the mainstream market.