The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) has awarded Georgian TBC Bank two prizes for its outstanding performance in 2014 under the EBRD Trade Facilitation Programme (TFP). Georgia was a host country of EBRD’s Annual Meeting and Business Forum 2015. As one of the largest supporter of Georgian traders, TBC Bank sponsored the TFP conference.
TBC Bank won EBRD awards for being the most active issuing bank in Georgia, and for Deal of the Year 2014.
TBC Bank was one of the first Georgian banks to join the EBRD TFP in 1999. “We are very proud and happy to recognize the achievements of TBC Bank with these awards. TBC Bank has been quite active in financing trade during 2014. In cooperation with EBRD we issued quite an important volume in this direction. That was the reason why EBRD decided to award us,” said Vakhtang Butskhrikidze, CEO at TBC Bank.
TBC Bank received the second award for financing an artificial snowmaking project in Georgia’s winter resorts, Bakuriani and Gudauri. As Butskhrikidze said, the winter season was fully dependent on snow and the Bank is proud to have managed to deal with this issue in just a short time. “This is a good example of how a bank can support companies and bring benefits to the whole sector. This is a win-win deal for TBC Bank, for the companies involved and for the country. This project supported the development of tourism in Georgia,” Butskhrikidze said.
“In terms of trade finance Georgian banks are the top; the level of service, the variety of products and, most importantly, the competence of their staff. EBRD has played a big role in providing technical assistance to Georgian banks over the years. In terms of retail banking, when I visit a branch here in Georgia, I see the service is on a really high level. Georgia is aspiring to join Europe. The service for customers at branches in Georgia is superior to in Western Europe. Even the use of technology, mobile banking, internet banking – you do not expect it to be so good,” Vincent O’Brien, Chair of the Market Intelligence Group, ICC Banking Commission, told The FINANCIAL.
Like O’Brien, Rudolf Putz, Head of the Trade Facilitation Programme, EBRD, considers banks in Georgia to be very experienced in trade finance. As he said, they provide excellent services to their clients.
“All of the banks that have been working with EBRD have been very professional, they made very good advances. The current challenges for Georgian banks are to explain to importers and exporters how to use trade finance facilities. We are helping Georgian banks to develop marketing material to train client relationship managers so they can facilitate trade finance solutions for importers and exporters. In general, banks are already very educated. Now we have to educate our importers and exporters,” said Putz.
TBC Bank offers customers one of the most diverse trade finance product ranges in the Georgian banking sector.
TBC Bank was one of the first Georgian banks to join the EBRD Trade Facilitation Programme (TFP) in 1999. TBC Bank is also part of IFC and ADB trade programs. The bank has a long-standing partnership with another large IFI, the Black Sea Trade and Development bank with a revolving trade line. The bank has received recognition for the high-level and successful business relationship from its various partner banks previously.
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