Georgia’s second largest bank to be provided with finance
Azerbaijan, Baku, Dec. 20/ Trend , N. Ismayilova/ EBRD, IFC and Dutch FMO are considering project on providing finance to TBC Bank- Georgia second largest bank to strengthen its capital base under post-conflict market conditions and consequences of fall in economy, EBRD said.
EBRD, IFC and FMO will provide $171mln in finance as a senior debt, the holders of which will receive finance first of all in case of bankruptcy. EBRD will lend $75mln for the project.
TBC Bank, a universal bank, is the second largest Bank operating in Georgia. As of 30 September 2008, TBC had USD 1,390 million in assets, USD 222 million in equity and USD 2.2 million in net profit.
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