JSC TBC BANK
Status: Completed investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
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-Bank has an external rating BB- (Fitch ) and B1 (Moody’s). FMO has a long and positive experience with TBC. The bank has performed very well over many years. TBC has grown organically and through other acquisitions (2014, they acquired Bank Constanta, 2016 Bank Republic). Today, TBC bank has a good capitalization, access to capital via their Premier listing on the London Stock Exchange. Finally, it has a sound stable funding, low NPL’s, good quality/ diversification of the loan portfolio and well managed liquidity
What is our funding objective?
By financing the bank, it is able to extend scarce financing and development of the SME-sector in Georgia. OFID’s lending will be earmarked for trade finance for Georgian SME’s.
Why do we fund this investment?
With this transaction, we can support our key-client TBC-bank with long term funding and, through our syndicate, bring new investors to Georgia. Finally, the transaction will catalyze USD 81 mln in commercial capital. The financing will be used to extend scarce financing and development of the SME-sector in Georgia. This will generate more tax income in Georgia. Further new jobs will be created in the country.
What is the Environmental and Social categorization rationale?
In 2012 TBC-bank put their ESMS in place with the help of IFI’s such as IFC and EBRD. TBC is an E&S category B bank. The ESMS covers the entire portfolio. It is well designed to categorization, risk assessment, for high risk ESAP, and monitoring. The basis are the IFC Performance Standards
More investments
| Date | Total FMO financing |
|---|---|
| 8/3/2022 | GEL 300.00 MLN |
| 12/2/2020 | EUR 0.02 MLN |
| 11/27/2023 | GEL 103.00 MLN |
| 10/27/2020 | USD 40.00 MLN |
| 6/22/2021 | USD 25.00 MLN |
| 9/20/2019 | USD 5.00 MLN |
| 9/20/2019 | USD 10.00 MLN |
- Website customer/investment
- http://www.tbcbank.ge/web/ka
- Region
- Europe & Central Asia
- Country
- Georgia
- Sector
- Financial Institutions
- Effective date
- 10/19/2017
- End date
- 10/27/2020
- Total FMO financing
- USD 17.50 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