TBC Bank attracted 70 million USD financial resource from Investment and Development Society DEG, that is allocated for small and medium business financing for Many years.
“We’re also delighted while using professionalism of TBC Bank management and high quality goods and services wanted to small and medium businesses. We’ve been proud to sign a mortgage agreement with TBC Bank because we believe this resource might help bank clients to produce and create jobs to the country, “said Petra Kote, head of DEG’s banking companies and German business owners.
“I am proud that TBC Bank would be the DEG’s long-term partner. Within 2 decades of successful cooperation, DEG has assisted TBC Bank in getting many loan products, technical assistance programs and equity. This transaction once again emphasizes the successful cooperation for these two institutions and that we hope that partnership will continue at some point, “said Vakhtang Butskhrikidze, General Director of TBC Bank.
DEG has more than 55 experience in developing markets kind of organizations. Support includes both cash and individual recommendations.
As of 31 March 2018, DEG’s total credit portfolio is 37.8%, even though the deposit portfolio is 38.9%.