Merging of TBC and Republic banks
By Tea Mariamidze
Tuesday, May 9
The five-month unification process of TBC Bank and Bank Republic has successfully concluded.
TBC Bank used to be the second largest bank in Georgia and now, after it united with the Bank Republic, it has become the largest bank in the country.
Since May 8, all customers of Bank Republic will be able to get all services from TBC Bank.
After the unification of the two banks, the positions of TBC Bank have significantly strengthened in all segments:
• TBC Bank became number 1 bank in Georgia according to deposits and loans.
• The share of retail lending market has increased by 11 percent and amounted 43.9%.
• The number of clients reached 2 million, which is the highest indicator on market.
• The service network of TBC has been expanded. The number of its branches in Georgia reached 167 and the number of ATMs increased up to 530.
• The bank has qualified staff that has a huge experience in banking.
General Director of TBC Bank Vakhtang Butskhrikidze underlined that customers of Bank Republic will get full and high-quality services at TBC Bank.
“We are glad that the merge of the two companies has concluded successfully. I would like to thank both banks for the work carried out during this period,” he said.
Butskhrikidze noted that after the merge of the two companies, 500.000 clients were added to TBC Bank.
“Our main goal is to have as many satisfied clients as possible,” he added.
Deputy General Director of TBC Bank Nika Kurdiani said that the bank is capable of serving 75% of the Georgian population.
“All branches of Bank Republic will be retained, but they will work on behalf of TBC Bank. The agreements signed with the Republic Bank will remain unchanged and conditions for clients will not change, "said Kurdiani.
TBC Bank purchased 93,64 % share of Societe Generate’s Bank Republic for 315 million GEL (121 million EURO) in September 2016.
