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Wednesday, November 13, 2019

TBC Bank, Bank Republic merger nears completion

JSC TBC Bank (TBC) is in the final stages of a merger with Bank Republic, which is expected to be complete by mid-May.

Bank Republic was acquired last autumn and had been the largest bank in Georgia in terms of gross loans, according to a press release. The merger was originally not expected to be finalized until the third quarter this year.

Once merged, TBC will expand its customer base by 300,000. Customers will have access to 41 more branches and another 160 ATMs.

All former Bank Republic customers have access to all of TBC Bank’s products and services, including its award-winning mobile and internet banking apps and a chatbot.

“We are proud to complete the merger with Bank Republic earlier than we had initially anticipated," Vakhtang Butskhrikidze, CEO of TBC Bank. "The management team have done their best to execute the merger process flawlessly for all our stakeholders, and we are looking forward to welcoming our new customers and offering them the best digital financial services in the region."

TBC is a subsidiary of TBC Bank Group PLC.

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TBC Bank - Georgia

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