BAKU, Azerbaijan, April 4. TBC Bank Uzbekistan (a subsidiary of TBC Bank Group PLC, the holding company of the leading banking group in Georgia) has attracted some $28.1 million from its shareholders, Trend reports via the European Bank for Reconstruction and Development (EBRD).
The bank notes that the following financial institutions are TBC Bank Uzbekistan’s shareholders: the EBRD, International Finance Corporation (IFC), and TBC Bank Group PLC.
According to the bank, TBC Bank Group PLC provided $16.9 million, while the EBRD and the IFC each invested $5.6 million respectively.
Owing to the sum of money, the bank will be able to solidify its position in the banking industry of Uzbekistan, expand its operational possibilities and continue to provide services that were previously insufficiently available to customers in Uzbekistan.
In the meantime, the mentioned financial organizations invested to the TBC Bank Uzbekistan some $22.5 million in 2021 and $35.1 million in 2022.
Back in 2021, the EBRD and IFC acquired 20 percent of the bank's shares, paying $9.4 million in the first round. In 2022, the second round of increasing the capitalization of the bank took place, the international shareholders allocated $7 million to the bank, and the parent bank in Georgia — another $21.1 million.