Baku, Azerbaijan, July 29
By Tamilla Mammadova – Trend:
The price of TBC Bank shares on the London Stock Exchange has grown, Trend reports with reference to 1tv.ge.
On July 29, the price of one share has exceeded 13 pounds, having increased by 5.5 percent compared to July 27. Last Friday, the price of one share of TBC Bank was 12.42 pounds, which was the lowest figure since September 2016.
In the last 2-3 years, the price of the shares of the Georgian Bank on the London Stock Exchange has been normalized. However, in February 2019, after the National bank of Georgia demanded to dismiss the founders of TBC bank Mamuka Khazaradze and Badri Dzhaparidze, the stock prices of the bank fell down Last week, Mamuka Khazaradze and Badri Dzhaparidze declared that they were leaving leadership positions in the TBC Group.
TBC Bank is one of the largest banks in Georgia. It was founded in 1992 and it 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 = 2.92 GEL on July 29)