Statement of Banking Association of Georgia on Situation around TBC Bank

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Distinguished by a high level of stability the Georgian banking sector presents a guarantee for the economic development of the country. A high level of financial transparency, regular positive assessments by international credit-rating agencies and activ- ity in the sector of international financial institutions/investors points to a high level of confidence in the sector.

Misinterpreting recent developments with respect to TBC Bank and profiteering by high interest in the public may interfere with the process of understanding a real information and at the same time create wrong expectations regarding future developments.
The banking sector has always been under the close scrutiny and supervision of local regulators, international auditors, cred- it-rating agencies and investors, which secures a high level of sta- bility and sustainability of both TBC Bank and the whole banking sector.
The Banking Association of Georgia will always protect the in- terests of its member banks and will not allow running a smear campaign targeted against a leading financial institution of the country as it might not only shake the reputation of a specific bank but also the whole banking system of Georgia, which will adversely affect the economic development of our country.

09 January 2019
Banking Association of Georgia +995 32 2 935 177 2 Saarbrucken Square, 0102, Tbilisi, Georgia banking@association.ge Identification: 402095870 www.association.ge

 

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