TBC Bank is a leading Georgian universal bank headquartered in Tbilisi, Georgia. It provides services to over 700,000 customers in its four business segments: corporate, retail, SME and micro. It is the second largest bank in the country by assets and the market leader in the retail segment.
The bank together with its subsidiaries employs over 3,000 people and operates mainly in Georgia. While having established an expanding network within the region through its subsidiaries, TBC Kredit in Azerbaijan, TBC Invest in Israel and Bank "Constanta" in Georgia with an aggregate of 88 branches, 232 ATMs and 2,446 POS terminals as of 2011.
The Bank’s shareholders include International Finance Corporation (IFC), Deutsche Investitions Entwicklungsgesellschaft mbH (DEG), the European Bank for Reconstruction and Development (EBRD) and Nerlandese Financierings-Maatschappi Voor Ontwikkelingsladen N.V. (FMO), with a combined share capital of 55%. Other international institutional investors, such as J.P. Morgan Chase Bank, N.A., London Branch ("JPMorgan") and Ashmore Cayman SPC No. 2 Ltd. ("Ashmore"), in aggregate hold 10% of the Bank’s shares. The two founding shareholders jointly hold 28% of the bank’s share capital, while the remaining 7% is owned by minority shareholders.
TBC Bank is rated by Fitch Rating Agency and Moody’s Investor Services. Current ratings are BB- (Long Term IDR)/ B (Short Term IDR) rating assigned by Fitch and B1 (FC)/ Ba3 (LC) assigned by Moody’s. The most recent upgrades took place in 2012 and 2011. In June 2012, Fitch upgraded TBC Bank’s Long-term Issuer Default Rating (IDR), to ‘BB-’ from ‘B+’, with a Stable Outlook. At the same time, the agency has upgraded the bank’s Viability Rating (VR) to ‘BB-’ from ‘B+’. Earlier in 2011, Moody’s also upgraded the Bank Deposit Foreign Currency Rating from B3 to B1 and Bank Financial Strength Rating from E + to D-.
The name, TBC Bank, traces its root to its original name, Tbilisi Business Centre, dating back to 1992. Currently, TBC is registered as the official name of the bank, not just an abbreviation of the original name.
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