Deutsche Investitions- und Entwicklungsgesellschaft (DEG)

On April 16, 1998 TBC Bank signed a long term (7 years) Credit Line Agreement with German Investment and Development Company DEG. According to this agreement, at the initial stage DM 3 mil is provided to TBC Bank. This credit is targeted at financing of small and medium size business in Georgia. In February 2000, TBC Bank and DEG signed two other Credit Line Agreements for the total of 4 million DEM. TBC Bank will utilize 2 million of DEM to acquire and refurbish new offices of the bank's headquarters. The second credit line provides resources for financing the development of small and medium size private business in Georgia.  


On May 26 2000, TBC Bank, German Investment and Development Company (DEG) and International Finance Corporation (IFC) signed Subscription and Shareholders agreements regarding the investment of the above mentioned institutions in TBC Bank's equity. From now on each institution holds 10% of TBC Bank's shares.