TBC Bank is Georgia's leading universal bank headquartered in Tbilisi, Georgia.
Its name, TB Bank , traces its roots to its original name, Tbilisi Business Center, since 1992. Currently, TB is registered as the bank's official name, not just an abbreviation of the original name. It is listed on the London Stock Exchange and is a constituency of the FTSE 250 Index.
Video TBC Bank
History
The history of TBC Bank dates back to 1992 when two Georgian businessmen Mamuka Khazaradze and Badri Japaridze, along with other Georgian partners established the bank, Tbilisi Business Center, abbreviated as TBC. They established a bank with an initial capital of $ 500, which was the amount needed to establish a bank in Georgia in the early 1990s. The bank was granted a license from NBG (Banking license No. 85) on January 20, 1993 and granted another license to conduct international transactions in May 1993.
In 1995 the bank operated with one branch and 29 employees, total assets of $ 1.4 million. Vakhtang Butskhrikidze, who joined the bank in 1993 was appointed to the Chief Executive Officer (CEO) of TBC in 1995, and has remained in that position ever since his appointment.
On June 11, 2014, the London Stock Exchange welcomed the TB Bank to the Main Market after the Global Depositary Receipts (GDRs) list. The bank raised $ 239 million in an IPO, providing a market value of $ 640 million. TBC Bank IPO is also the largest IPO of Georgia and the largest international off-index IPO of the EMEA region.
Maps TBC Bank
Operation
Bank Constanta
TBC Bank entered the lucrative microfinance segment by acquiring an 80% stake in Bank Constanta, one of the leading microfinance institutions (MFIs) in the Georgia market. Then in 2014 the ownership of TB Bank reaches 100% of Bank Constanta.
TB leasing
TBC Bank established JSC TBC Leasing, headquartered in Tbilisi, Georgia, in January 2004 with total assets of GEL 0.5 million. The Bank currently has 89.5% ownership interest in TBC Leasing with the remainder owned by EBRD.
TB Credits
TBC Bank acquired 75.0% ownership interest in TBC Credit at the end of 2007. The company was previously known as SOA Credit, a non-banking credit organization operating in the Micro and SME financial services market in Azerbaijan since 1999.
TBC Invest
Established in early 2011, TBC Invest is a wholly owned subsidiary of JSC TBC Bank. It operates in the Israeli market as an intermediary between Israeli clients and TBC Bank.
Social Responsibility
As part of the Bank's social responsibility project, TBC Bank established TBC Fund to help war victims of 2008 in Georgia. The Bank established the TBC Fund with a GEL of 5 million and, shortly thereafter, collected an additional GEL 3 million for its programs.
TBC Bank also established an annual literary award, SABA, which aims to award the best literary award of the year since 2003.
References
Source of the article : Wikipedia
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