Banking

TBC Bank Case: Mamuka Khazaradze’s Withdrawal Raises More Questions

The TBC Bank case has turned out to be a high-profile matter over the past month. The story of one transaction raised more questions in terms of business freedom and democracy in the country.

Mamuka Khazaradze: I express full distrust to Koba Gvenetadze and NBG Vice President

TBC Bank founder Mamuka Khazaradze demands that Koba Gvenetadze, president of the National Bank of Georgia (NBG) resign and urges to call him to account.

TBC Bank Received 34 million USD Credit Resource

On February 28, TBC Bank has received 34 million USD credit resource from the European Investment Bank (EIB). The funds will be spent on small and medium business financing of bank clients in Georgia.

U.S Embassy: TBC Case Result can Have Significant Implications for Georgia’s Reputation

The U.S. Embassy to Georgia is closely following developments surrounding TBC Bank.

Volume of Lending by Commercial Banks Decreased by 170.2 million GEL

The volume of lending by commercial banks (including loans to non-residents) in January 2019 decreased by 170.2 million GEL or by 0.6 percent compared to the previous month.

Non-bank Deposits Decreased by 450.6 million GEL

The total volume of non-bank deposits in the country’s banking sector decreased by 2.0 percent.

Committee Meeting on TBC Bank Case Closed after Voting

The ongoing meeting of the parliament committee on TBC Bank case was closed after voting.

EUGBC Suggests Create Monitoring Commission on TBC Bank’s Case

EU-Georgia Business Council (EUGBC) issued an official statement in regards to TBC Bank case. EUGBC expressed its support for TBC by stating that it is a company which has achieved a significant success.

Mamuka Khazaradze: I Have Made Decision to Quit TBC Bank

Mamuka Khazaradze has released a special statement in the social network: