JSC TBC BANK
Status: Completed 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
Contracting party is TBC Bank, a tier one bank in Georgia with a long-standing relationship with FMO. In partnership with the EFSE Development Facility (EFSE DF), in which CD has a seat at the board, TBC has set up a marketplace that connects businesses with providers of technological solutions, promoting the local entrepreneurial ecosystem including start-ups. The winners of the App challenge will have access to the platform and benefit from its features, in addition to being visible to 40,000 potential clients.
What is our funding objective?
This project aims to support the winners of TBC’s Apps challenge in Georgia. This follows a successful 2018 edition with a total of 2.6 million social media views and a 50% engagement rate. The goal of the challenge is to incentivize creation of new computer software or mobile applications that are relevant for Georgian businesses, for example, an online platform that is designed for making the drafting of legal documents easier and a software service designed for companies to allow them to create a customer database, make multiple bookings and contact customers via text messages.. The project will have an impact on young entrepreneurs and aims to address unemployment beyond the winners of the prize.
Why do we fund this investment?
The Apps challenge adds value primarily through directly supporting Georgia’s micro, small and medium enterprises and by positively impacting the financial sector using digital solutions as an enabler. This is in line with CD’s strategic agenda of encouraging innovation, supporting entrepreneurial growth and supporting young entrepreneurs. The Apps challenge is a good example of how TBC bank is making use of digital solutions in the provision of financial services and thereby linking to SDG 10, Reducing Inequalities by enabling easier, innovative and quicker access to financial services. In addition, TBC is an interesting partner for FMO being a global frontrunner in offering Non-Financial Services to its customers.
More investments
| Date | Total FMO financing |
|---|---|
| 8/3/2022 | GEL 300.00 MLN |
| 11/27/2023 | GEL 103.00 MLN |
| 10/27/2020 | USD 17.50 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
- 2/21/2020
- End date
- 12/2/2020
- Total FMO financing
- EUR 0.02 MLN
- Funding
- FMO NV
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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