Baku, Azerbaijan, July 27
By Tamilla Mammadova – Trend:
The price of the shares of the Georgian TBC Bank is at the lowest level since September 2016, Trend reports with reference to 1tv.ge.
The cost of one share on the London Stock Exchange fell by 1.43 percent and at the closing of trading amounted to 12.42 pounds.
On September 29, 2016, the share price 12.31 pounds.
In February, the National bank of Georgia demanded to dismiss the founders of TBC bank Mamuka Hazaradze and Badri Dzhaparidze from TBC Bank. Following the decision, the stock prices of the bank fell down.
TBC Bank is one of the largest banks in Georgia. It was founded in 1992 and the bank received a license for international transactions in 1993. In 2000, the International Finance Corporation (IFC) and the German Investment and Development Corporation (DEG) became shareholders of TBC Bank.
In 2004, TBC Bank was recognized as one of the best banks in the world operating in the foreign exchange market. In 2011, Euromoney, one of the largest financial magazines in Europe, awarded TBC Bank the title of “Best Bank in Georgia”.
In 2014, it became the second bank from Georgia, to be listed on the London Stock Exchange. The cost of the initial public offering of TBC Bank shares was $239 million, which is the highest figure among banks from Georgia.
(1 USD = 2.91 GEL on July 27)