Baku, Azerbaijan, July 26
By Tamilla Mammadova – Trend:
European Bank for Reconstruction and Development (EBRD) notes the recent board changes at Georgian TBC Bank Group PLC, Trend reports referring to the website of EBRD.
The TBC bank is a solid financial institution led by a strong management and an independent board of directors, says the source.
As reported, EBRD welcomes the decision by the chairman and the deputy chairman of the TBC bank to step down from the board at this time to focus on allegations made against them in a legal dispute.
In addition, the EBRD also welcomes the strengthening of the board with the addition of independent directors with extensive executive level experience in financial institutions.
“We expect a fair and transparent due process and a prompt resolution of the case with no adverse impact on the operations of the bank”, reads the statement of the European Bank for Reconstruction and Development.
According to the report, meanwhile, the EBRD as a longstanding partner, shareholder and lender of TBC Bank will continue to support and work with TBC Bank Group PLC.
Independent Director Nikoloz Enukidze has been appointed Chairman of the Supervisory Board of TBC Bank Group PLC. According to the TBC Bank, the choice in favor of Enukidze was made on the basis of his international experience and deep knowledge in banking.