Banking
Posted: 2 weeks ago

TBC Attracted GEL 306 Million in Financial Resources from ADB

TBC has attracted GEL 306 million in financial resources from the Asian Development Bank (ADB), which will be used to meet the growing demand for mortgage loans in Georgia and the needs of borrowers in this area.

The amount was raised by ADB, with the help of TBC Capital, as a result of a private placement of GEL-denominated bonds.

"We are pleased to continue our successful partnership with ADB. This transaction strengthens TBC Bank's commitment to support mortgage lenders in the national currency and to further strengthen our position in the retail segment. Public issuance of bonds supports the development of the local capital market in Georgia," - Vakhtang Butskhrikidze, General Director of TBC.

"ADB is pleased to work with TBC to finance long-term mortgages and improve living conditions in Georgia. The house is one of the most important assets acquired by the family. At the same time, the developed development sector is a major driver of the country's economy. Vice President of Sector Operations and Public-Private Partnerships.