TBC Bank summarizes results for 2014
Tuesday, February 3
TBC Bank held a press conference, where TBC Bank’s CEO Vakhtang Butshkhrikidze summarized the results of the year 2014.
TBC Bank’s main achievements in 2014 were as follows:
• TBC Bank became the #1 bank on the Georgian retail market according to individual deposits and loans (TBC Bank had a 33.7% share on the individual deposits market and a 29.7% share on the loans market)
• TBC bank made the largest public offering among Georgian companies on the London Stock Exchange
• TBC Bank successfully finalized the merger of Bank Constanta and increased its microfinance portfolio by up to 40 million laris.
TBC Bank’s major financial indicators grew dynamically in 2014. In particular, total assets grew to GEL 5.43 billion; loans disbursed to clients totaled GEL 3.7 billion, the balance on client accounts was GEL 3.22 billion and shareholder equity was recorded at nearly GEL 2 billion
In 2014 loans to individuals grew by 38.5%, retail deposits by 22.8%. Additionally, the growth of corporate loans was 6.5%, and corporate deposits – 1.6%.
Loans to SMEs grew by 36% and the deposits of SMEs grew by 12.4%.
As for the micro-segment, after the merger of Bank Constanta, micro financing became one of the top priorities of the bank. As a result, TBC Bank decided to purchase ProCredit Bank’s loan portfolio with a volume of up to 40 million. This will enable the bank to develop its activities in the region and increase its market share within the micro-segment.
In 2014, TBC Bank gained several aknowledgements from various prestigious publications such as Global Finance, Euromoney, EMEA Finance , The Banker and PWM.
TBC Bank was the first Georgian bank to receive the awards in the categories of Best Personal Banking (The Banker and PWM) and The Bank with The Best Corporate Social Responsibility (EMEA Finance Europe Banking Awards).
In 2014, TBC Bank continued to finance several culturally and socially significant projects. Among these projects include the Saba Electronic Book-house and the Artarea Culture Channel. The bank also financed several initiatives on promoting Georgian artists abroad. In addition, it created free art space for contemporary artists, the first ‘Art Wall’ in the city. For the first time in Georgia, TBC bank as a private business, got involved in financing cinema and implemented a joint project with the Cinema Centre.
