EBRD reduces its stake to 3.5% in Georgia’s TBC bank
By Trend
The European Bank for Reconstruction and Development (EBRD) has
reduced its equity stake by 1.5 percentage points, in TBC Bank
Georgia’s largest bank, by selling 850,000 shares, Trend reports with reference to bm.ge.
After the sold shares on 22 November 2022, the EBRD retains a 3.5%
stake in Georgia’s largest lender.
"The EBRD is confident in the bank’s strong performance and bright
prospects, remaining fully supportive of its strategic development
and its plans for domestic and cross-border expansion", - the
published document reads.
The EBRD acquired shares in TBC Bank in 2009 as part of a larger
funding package. In 2012, together with other international
financial institutions as shareholders, the EBRD participated in a
rights issue by TBC Bank. Subsequently, the bank was successfully
listed on the LSE in 2014, and upgraded into the premium segment of
the main market in 2016.
The EBRD is a leading institutional investor in Georgia. Since the
start of its operations there, the Bank has invested over €5
billion through 277 projects, with more than 80 per cent of those
in the private sector. The Bank’s key areas of investment include
the financial sector, sustainable infrastructure and small and
medium-sized enterprises (SMEs).
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