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Sunday, April 5, 2020

TBC BANK - GEORGIA: TBC Bank's GEL 103 mln Loan Funded by FMO Won Best Local Currency Loan Award in CEE

TBC Bank - Georgia issued the following announcement on April 2.

EMEA Finance announced its winning deals and dealmakers of 2018. Nominated by parties including banks and their clients, and chosen by the EMEA Finance editorial team, these organizations and transactions exemplify the innovative work taking place in the region's capital markets.

In October 2018, TBC Bank signed a loan agreement in the amount of GEL 103 million with FMO, the Dutch development bank. The local currency funding was obtained by FMO through a public placement of bonds on the Georgian Stock Exchange. This transaction was selected by EMEA Finance as the Best Local Currency Loan of 2018.

“We are proud to have built such a successful relationship with FMO, TBC Bank’s long-standing partner. During 13 years of partnership, FMO has provided more than USD 350 million in MSME and mortgage loan financing as well as local currency and subordinated loans. Local currency funding is of great importance for the Georgian financial sector. We are delighted this transaction was awarded a special prize, which is a true testament to FMO’s continued support to the development of the financial sector of our country. Moreover, this award reflects both institutions’ commitment to continued cooperation and we look forward to many more years of productive partnership.” commented Vakhtang Butskhrikidze, CEO of TBC Bank.

Original source can be found here.

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TBC Bank - Georgia

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