Georgia’s second largest bank, TBC Bank, is receiving financial assistance from a variety of international investors to help weather the global economic slowdown.
One of the largest investors is the EBRD which will contribute up to USD 70 million. The investment will include USD 36.8 in equity capital for a stake in the bank, as well as an USD 18.5 million subordinated loan and a USD 14.7 million senior loan. Other investors include the International Finance Corporation (IFC), already a share holder in TBC, and the Netherlands Development Finance Company.
TBC Bank (www.tbcbank.ge)
Founded in 1992, TBC Bank is the largest privately held bank in Georgia. It offers consumer banking services including retail & internet banking, mortgages, auto & student loans, and debit & installment cards. The bank is also involved in the commercial sector with business financing and insurance products.
With more than 40 branches across Georgia, TBC Bank reported more than USD 1 billion in assets at the close of 2007.
16/04/2009
Central & Eastern Europe, Financial Services, Georgia, Investment, Private Equity News