In January, the International Finance Corporation (IFC) granted TBC
Bank a 4 million USD worth subordinated loan. This was the precedent of
allocating a subordinating loan to a Georgian commercial bank by the
international institution. |
On February 26, a new TBC Bank’s
Head Office was opened. TBC Bank was housed in a unique building
constructed in the beginning of the 20th century in Tbilisi, which
belongs to city’s architectural monuments. TBC Bank spent USD 6 million
on financing the reconstruction project.
Starting from May 1,
TBC Bank increased the maximum term of mortgage loan up to 20 years.
This was the revolutionary step for the Georgian bank sector. Before,
the maximum loan term in Georgia was 10 years.
On July 27, IFC
allocated a 3 million USD worth credit line for the company “TBC
Leasing” founded by TBC Bank. This is the first IFC investment in the
Georgian leasing sector.
In September, in the annual bank
rating the Financial Times Group nominated TBC Bank among the world’s
“Best Banks of the Year” already for the fourth time.
September 26, TBC Bank and the European Bank for Reconstruction and
Development (EBRD) signed an agreement on financing small and medium
business. Amount under this agreement composed USD 10 million.
October, the American magazine “Global Finance” already for the fourth
time named TBC Bank among the best banks worldwide operating on foreign
On November 7, the International Rating
Agency FitchRating improved TBC Bank’s rating: bank’s long-term rating
was raised from “CCC+” to “B-” level while the short-term rating was
increased from “C” to “B”. In the long-run, the bank’s growth was
assessed as “stable.”