BAKU, Azerbaijan, February 12. The Black Sea Trade and Development Bank (BSTDB) has approved a GEL 135 million local-currency loan for TBC Bank Georgia, Trend reports via the Bank.
The financing aims to bolster small and medium-sized enterprises (SMEs) by supporting their investment programs, working capital requirements, and expansion into both domestic and international markets. This initiative is expected to enhance SMEs' competitiveness and export potential.
In addition to fostering business growth, the funding will increase local-currency financing opportunities for private companies. By reducing reliance on foreign currency borrowings, the loan also helps shield business owners from direct exposure to exchange rate fluctuations.
BSTDB has been collaborating with TBC Group since 2003, providing over USD 192 million in revolving trade finance, SME finance, and leasing facilities.
TBC Bank Group PLC, the parent company of TBC Bank Georgia and TBC Uzbekistan, is a public limited company registered in England and Wales. As of September 30, 2024, TBC Bank Georgia held a leading position in the country’s financial sector, with a market share of 38.7% in customer loans and 38.4% in customer deposits, according to the National Bank of Georgia.
Listed on the London Stock Exchange under the symbol TBCG, TBC Bank Group is a constituent of the FTSE 250 Index and a member of both the FTSE4Good Index Series and the MSCI United Kingdom Small Cap Index.