TBC Bank purchasing Constanta Bank shares

At a press conference on April 19 it was announced that TBC Bank is planning to purchase 80% of the shares of Constanta Bank. Director General of TBC Bank Vakhtang Butskhrikidze stated that Constanta is one of the leading banks in micro financing which attracted the interest of TBC. Constanta bank has good management and it will continue its activities as an independent institution whereas TBC bank will offer its assistance and support.

In the Georgian banking market this will be the first time that cooperation will not see the bigger bank swallow the smaller bank into its structure but rather it will offer a chance to actively continue its independent business.