The FINANCIAL — TBC Bank, one of the leading banks in Georgia, will have a 20% increase in its corporate clients credit portfolio in 2010 according to Vakhtang Butskhrikidze, General Director of TBC Bank.
“There is a cardinal difference in the quality of the present and pre-war periods’ credit portfolios. If we compare the total Georgian banks’ credit portfolio we have a much healthier one than before August 2008,” said Butskhrikidze.
“During the last two year’s period the risks were re-valued and banks are taking better decisions, consequently there is a higher quality of the credit portfolio than before the war,” Butskhrikidze added.
TBC Bank credited 500 million GEL to physical individuals in the year 2010, with a growth rate of 15%. The deposits of physical individuals reached 800 million GEL at TBC Bank.
While crediting corporations there are several criterions TBC Bank pays attention to.
“The major accent is on stable companies, with stable sales which are oriented on export or substitution of import companies. The key factor is to have a stable financial indicator since the crisis period,” declared Butskhrikidze.
As Butskhrikidze says, the majority of types of companies are in medical, trade, tourism and infrastructural sectors.
Recently, TBC Bank announced financing the healthcare sector by 20 million USD. Moreover, half of the loan is distributed with the guarantee of the US Government. USAID has formed a 10 million USD loan portfolio guaranteed agreement with TBC Bank.
The 20 million USD loan will be for the building and construction of hospitals, as well as purchase of special equipment. Investors and potential lenders will have the opportunity to build new or construct existing hospitals, as well as purchase medical equipment.
The main aim of the project is to support development of the healthcare field and guarantee a modern, high-quality medical service to the Georgian population.
The maximum amount of a loan is 4 million USD. The priority will be given to hospitals and clinics located outside Tbilisi.
TBC Bank is the only bank in Georgia which provides loan financing for the healthcare sector by the guarantee of USAID. The guarantee is given within the framework of 1 billion USD promised by the US Government for Georgians after the conflict.