London Stock Exchange welcomes TBC Bank Group PLC
London Stock Exchange today welcomes TBC Bank Group Plc, a leader in retail and MSME banking in Georgia, to open trading, following its successful admission to the premium listing segment of the Official List on the Main Market.
From its foundation as one of the first privately-owned banks in Georgia in 1992, TBC has played an innovative role in the development of the Georgian economy, providing new financial services and supporting the growth of local businesses.
TBC Bank, together with its subsidiaries, is today one of the leading universal banking groups in Georgia, with a total market share of 28.2% of loans and 29.3% of non-banking deposits in Georgia as at 30 June 2016, according to data published by the National Bank of Georgia (“NBG”). It holds the number one position in deposits of individuals, the number two position in loans (both to individuals and to legal entities) and in deposits of legal entities, according to NBG data, and has a particular expertise in the fast-growing SME and micro sectors, where TBC Bank considers itself a market leader.
Vakhtang Butskhrikidze, Chief Executive Officer of the Bank, said:
“Two years after listing our GDRs on the London Stock Exchange, the move to a Premium Listing is an exciting next step for us. TBC is a bank of proven quality, which we believe will offer international investors a distinctive opportunity to benefit from Georgia’s resilient growth economy, through its clear focus on the Georgian banking sector. I would like to thank our investors for their support and our team for all their hard work in making this happen.”