Under this project IFC support TBC Bank Group PLC, in order to develop a newly formed bank (TBC UZ). TBC UZ will focus on lending to underserved, fast growing retail customers, micro, small and medium enterprises (MSMEs).
The project is expected to contribute to increased competitiveness of the banking sector through innovation, competition, and demonstration channels. In addition, strong operational performance focused on modern branches and digital channels is expected to push traditional banks towards innovation and increased efficiency.
The most significant Project-level outcome is increased access to finance for underserved segments in the economy, namely mortgage borrowers, MSMEs, and other retail borrowers, which will comprise the entire loan book the TBC UZ.
TBC Bank Group PLC is a holding company for TBC Bank – the largest bank in Georgia with a market share of almost 40% of gross loans, employing more than 7,000 people and serving 2.7 million customers. As of March 31, 2020, TBC Bank had total assets and net loans of US$6.1 billion and US$4.1 billion respectively. TBC was listed on the London Stock Exchange in 2014, following up with Premium listing in 2016. TBC is owned 14.6% by the founding shareholders, Mr. Badri Japaridze and Mr. Mamuka Khazaradze, 2.8% by IFC, 8.0% by EBRD, with 71% floated and owned by a wide institutional investor base.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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