BSTDB Partners with TBC Bank to Support Small Business in Georgia

Press Release | 19-Jun-2015

The Black Sea Trade and Development Bank (BSTDB) provided a USD 10 million SME Facility to the Georgian TBC Bank. The loan proceeds will finance investment and working capital of small- and medium-sized enterprises (SMEs) in Georgia, particularly those in the real sectors of economy, stimulating regional trade and employment.  

“We are pleased to enhance our partnership with TBC Bank, which started in 2003. This third loan agreement demonstrates BSTDB’s consistent support to the Georgian economy and banking sector. Facilitating small business development as a backbone of market economy will remain our strategic priority in Georgia and other countries of the Black Sea region in the years to come", said Ihsan Ugur Delikanli, BSTDB President.

"We are delighted to continue our partnership with Black Sea Trade and Development Bank. This facility will help TBC Bank to strengthen its position in the SME segment by expanding lending to small and medium size enterprises. This transaction reflects both institutions’ commitment to continue cooperation and we look forward to more years of productive partnership”, commented Vakhtang Butskhrikidze, CEO of TBC Bank.

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JSC TBC Bank is a leading universal bank in Georgia, offering a broad range of products and services through its extensively developed corporate, retail, SME and micro banking business lines. As at 31 March 2015, TBC's loan book comprised retail, corporate, SME and micro portfolios with 41%, 34%, 14% and 11%, respectively, of the total loan portfolio. TBC Bank is the market leader in Georgia in retail deposits and retail loans with a 34% and 31% market share respectively.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit www.bstdb.org.

Press contact:

Haroula Christodoulou

Phone: +30 2310 290533

E-mail: cchristodoulou@bstdb.org