Banking
Posted: 1 year ago

TBC has Raised USD 67 million from Citibank to Finance the Trade

TBC has raised $ 67 million from Citibank to finance the trade. This is the first agreement between TBC and Citibank on attracting funding in the field of trade finance.

"Georgia's economy is facing particular challenges amid ongoing developments in the country and around the world. The financial resources attracted from Citibank will help to more actively finance the export and import transactions of our customers and strengthen the bank's position in terms of supporting trade operations.

TBC's market share in financing trade in the country is 50%. Over the years, TBC has been cooperating with all major international banks and financial institutions around the world in this area, and as part of this partnership, we have already offered a number of products and services to our customers. Last year, TBC won several prestigious awards from reputable publications around the world in terms of trade finance, and was named the # 1 bank in the country in this regard. ”- Vakhtang Butskhrikidze, General Director of TBC Bank said. 

"With the first financial resource allocated to TBC to finance trade, Citibank is once again emphasizing its aspirations to promote the growth of important, emerging markets. We are proud of our long-standing partnership with TBC and the entire Georgian banking sector. ”- says Shafik Haddad, Citi Bank, Head of Financial Institutions and Correspondent Banking, Treasury and Trade Decisions at European, Middle East and Africa (EMEA).

Citibank is a leading global bank with about 200 million customers and operates in more than 160 countries. Citibank offers a wide range of financial products and services to customers, organizations, governments and agencies, including banking and credit services for individuals, corporate and investment banking services, brokerage operations with securities, transaction services and property management.