Business
Posted: 11 months ago

TBC Bank Presented Annual Report to Business Sector

TBC Bank held its annual meeting, presenting the company's achievements and results for 2019, as well as its development strategy and future plans. The meeting was attended by representatives of business sector, government, diplomatic corps, international financial institutions and business associations.

The meeting was chaired by TBC Bank CEO Vakhtang Butskhrikidze, his deputies - Giorgi Tkhelidze, Nikoloz Kurdiani, and Otar Nadaraia, chief economist of the bank.

Speakers spoke about TBC's vision and strategy, achievements in corporate and investment banking, as well as the development of small and medium-sized businesses and ecosystems and the macroeconomic environment.

Following the panel discussion, TBC representatives, together with business partners, discussed macroeconomic trends and development prospects.

According to financial data for 2019, TBC is the leading bank in Georgia. As of 2018, the bank's loan portfolio grew by 22.1% to 39.5% of the market, while the deposit market share stood at 39.0%. This is mainly driven by the growth in corporate and micro, small and medium business segments. Lending to businesses in the corporate sector increased by 47% and MSMEs by 18%.

The largest share of financing in the corporate sector comes from the energy, real estate, food industry and hotel sectors. The MSME sector is focused on agriculture, hotels and trade.

TBC is a leader in the retail segment and serves 2.5 million customers. In 2019, the retail loan portfolio grew by 7.5% year-on-year, largely driven by the growth in mortgage lending. Currently, TBC's market share is 40% in retail loans and 37.9% in retail deposits.

The financial resources attracted by TBC from international financial institutions in 2019 amounted to GEL 1.5 billion ($ 531 million).

2019 was a successful year for TBC in terms of international expansion. TBC Bank has obtained a preliminary license for banking in Uzbekistan, which is a step forward in conducting banking operations in the country. TBC plans to obtain a final license and start banking operations in the summer of 2020.

At the same time, TBC is actively developing its payments business. Payme, a leading payment company in Uzbekistan, already serves 1.8 million customers. Payme's profit rose 84% to $ 8.6 million.

Another achievement by TBC is the preparation of TBC's Digital Bank - SPACE to the International Marketplace, which will soon bring the service to Germany.

Over the past year, TBC Bank has won numerous awards from international financial publications. TBC Mobile Bank was named the best bank in the world and TBC Bank - the best bank in Georgia.

“The development of any business contributes to the growth of the country's economy. Consequently, we are very proud of the fact that the number of our supported businesses is growing every year and more and more businesses are trusting us. This is evidenced by the financial results of 2019, which we achieved through the joint efforts of our team. In general, TBC's mission is to make life easier for people. That is why we create all the products and services for businesses that suit their needs. The ambitious goals set for 2020 and the best customer service we have come to assure us that we will achieve exceptional results this year, ”said TBC Bank CEO Vakhtang Butskhrikidze.

The TBC Summit will be held annually with business representatives to share their findings with business representatives.