The FINANCIAL — The net profit of TBC Bank totalled GEL 97.8 million last year.
According to Vakhtang Butskhrikidze, CEO of the Bank, 2012 proved to be a very successful year for the Bank. TBC implemented various innovative projects last year and received many international and regional awards as recognition of this.
According to Butskhrikidze, in 2012 total assets increased by 18.4%, which raised the Bank’s share on the market by 25.8%. The total amount of loans increased by 17% and amount of deposits – by 24.4%. The share on the credit market totalled 26.2% and on the deposits market – 31.5%.
“Last year, TBC Bank celebrated its 20th anniversary and then embarked upon the start of a new decade. Twenty years is a significant amount of time for any company to have been operating in Georgia for, as the history of private business in the country is as old as that. We are very proud that TBC Bank has managed to develop steadily, despite the very difficult political and economic times the country has seen over the past 20 years. We are also exceedingly proud that it is a leading bank in Georgia today with USD 370 million capital and USD 2.5 billion assets,” Butskhrikidze said.
“After 20 years we are very proud to have always served our company’s mission – to create new opportunities for individuals and businesses. This supports the country’s future economic development and growth,” Butskhrikidze said.
“Last year we significantly expanded our business, we further improved our positions on the market and at the same time made our anniversary year a profitable and memorable one for society. Our position as leading bank on the retail deposits market has been especially cemented, as our bank’s share came to more than 35%.”
As Butskhrikidze notes, as of the end of 2012 the total capital of TBC Group (including Bank Constanta) had increased by 28% and amounted to GEL 604 million. The main supporting factor of the growth was an increase of the Group’s capital by bank shareholders by GEL 25 million and increase of Tier 2 Capital (secondary capital) by GEL 25 million.
“Last year TBC Bank attracted GEL 192 million in financial resources. TBC received EUR 50 million from the world’s biggest international financial institution – European Investment Bank EIB; TBC Bank signed a loan agreement of USD 20 million with French company PROPARCO. This is the first investment of the company in Georgia,” Butskhrikidze said.
“EBRD allocated a USD 10 million loan within the frames of the Caucasus Energy Efficiency Programme (CEEP). A USD 5 million loan agreement was also signed with Dutch investment management company Triple Jump,” he added.
TBC Bank serves about 1,000,000 customers in four business segments according to Butskhrikidze. It offers a wide spectrum of products to corporate, retail, small and medium business and micro finance segment customers. “We have a growing network in Georgia and its regions. We have a key role in the functioning of the country’s financial system.”
“In 2012 TBC Group significantly increased its services with the help of its branches, ATMs and fast payment terminal network. As of the end of the year, in the Group’s network, there were 105 branches and service centres Georgia-wide, 274 ATMs and 2,888 fast payment terminals.”
“Last year we took quite a crucial step forward in regard to offering people many different products and services. Of particular note is the ultramodern internet bank and mobile bank’s implementation. It’s remarkable that for the first time in Georgia TBC Bank has offered its customers internet bank applications for iPhones, Androids and other smartphones,” Butskhrikidze said.
“This project received international recognition and success. The magazine Global Finance named TBC Bank the best mobile bank owner in Central and Eastern Europe. TBC is the only bank in Georgia to have received an award for this nomination and achieved regional recognition for this. I think these technological services will be the most highly demanded and popular on the Georgian banking market in 2013,” Butskhrikidze noted.
Last year was successful for TBC in terms of international recognition as well. As Butskhrikidze notes, international rating agency Fitch Ratings increased TBC Bank’s international ratings in different categories: long term rating from BB to B+ and Viability rating from BB to B+. The Bank’s Rating Outlook was determined as Stable.
“The magazines Euromoney, Global Finance and EMEA Finance all named TBC Bank the best bank in Georgia in 2012. Deutsche Bank and Commerzbank named TBC Bank the best bank according to High Quality Currency Transfer. This is the 7th award from Deutsche Bank in the category of currency transfers. The magazine Global Finance named TBC Bank the best provider of currency exchanges in Georgia in 2013,” Butskhrikidze said.
“High social responsibility and being active in society are a signature of our brand. In 2012, in honour of our 20th anniversary, we supported the idea of creating new opportunities for culture, representatives of art and art itself. At the beginning of last year we started implementing long-term, innovative, cultural projects which not only positively affected the development of culture in the country, but also involved the contribution of many talented artists, cinematographers, writers, composers….”
“We had many projects last year including the interesting cinema project ‘20 years 12 months’; the first internet television about culture ‘Artarea’; electronic book store ‘Saba’; TBC Art Gallery and the gift to the city – the monument ‘TBC Clocks’.”
“We celebrated the anniversary of the Bank with the opening of the monument TBC Clocks – the culmination of the company’s jubilee celebrations. The monument was created by one of Georgia’s famous contemporary artists, Tamara Kvesitadze. TBC Clocks is to be found in one of Tbilisi’s central squares and has now been added to the capital’s list of attractions. Time, precision, management, people and clocks as the most precise and steady mechanisms of all time – these are the main ideas behind TBC Clocks, which best represents our attitude on time. As a result we decided to ring in the new decade for our bank by creating the impressive monument TBC Clocks,” Butskhrikidze said.
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