The FINANCIAL — On April 18, during the opening of a new branch in Batumi, TBC Bank announced to have attracted USD 10 million from the Hungarian OPT Bank.
According to TBC Bank, the attracted sources will be used for financing the business sector.
OPT Bank is Hungary’s largest bank, with a substantial presence in major Eastern European markets such as Ukraine, Bulgaria and Romania.
Earlier, in November 2007, TBC Bank received a USD 15 million facility from OTP Bank PLC. The facility was used to finance TBC Bank’s general banking requirements, increasing its portfolio and its dynamically growing branch network.
In 2007 TBC Bank attracted USD 300 million from different international donors. As for TBC Group, the figure is USD half a billion. In 2008 TBC Bank alone is expected to attract USD half a billion.
In March 2008 TBC Bank managed to attract USD 100 million with the assistance of International Financial Organization Merrill Lynch and funds were raised on the basis of private placement from Western Capital Markets.
As for TBC Bank’s expansion through Batumi, currently the bank operates two branches and four service centres there.
TBC Bank gave a new edition of the national work ‘Vepkhistkaosani’ (translated as ‘Knight in the Panther’s Skin) as a present to all the schools in Batumi. The edition of the well-known epic poem written in the 12th century by the Georgian poet Shota Rustaveli is with illustrations by Hungarian painter Mikhai Zichi.
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