TBC Leasing JSC
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
TBC Leasing JSC (“TBC-L”) is the largest leasing company of Georgia with a market share of 80%. TBC-L started in 2003 and operates from its headquarter in Tbilisi. TBC-L is a fully owned subsidiary of TBC Bank, a long-standing FMO client. TBC-L offers a wide range of leasing products to diverse sectors of the economy. It also caters to different client segments with a main focus on small and medium enterprises (SMEs).
What is our funding objective?
FMO provided a EUR 15m senior secured loan with a maturity of 5 years. The purpose of this transaction is financing youth, agri and women SMEs. TBC-L will use 15% of the financing to develop its green lease portfolio.
Why do we fund this investment?
Through this transaction FMO deepens its partnerships with TBC Bank as existing client by providing long term funding to its subsidiary TBC-L. FMO hereby supports the growth of local SMEs and the development of green finance in Georgia.
What is the Environmental and Social categorization rationale?
TBC-L is categorized as E&S risk category B. TBC -L has an Environmental and Social (E&S) Policy in place and an Environmental and Social Management System (ESMS) has been implemented in 2020, with four pillars: direct environmental impact, indirect environmental impact, social impact, and CG impact. TBC-L has no large corporate/project finance exposure, with a balanced portfolio and no triggered IFC Performance Standards.
More investments
| Date | Total FMO financing |
|---|---|
| 12/18/2019 | EUR 8.95 MLN |
- Website customer/investment
- https://www.tbcleasing.ge/home
- Region
- Europe & Central Asia
- Country
- Georgia
- Sector
- Financial Institutions
- Publication date
- 7/2/2024
- Effective date
- 6/12/2024
- Total FMO financing
- EUR 15.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B