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TBC Bank Group PLC - Tbilisi, Georgia-headquartered lender - Draws down ₾306 million, around £85.8 million, facility signed with Asian Development Bank first signed in March.
Facility is for meeting growing demand for housing loans and finance mortgage borrowers.
‘We are delighted to continue our successful partnership with ADB, TBC Bank's long-standing partner. This transaction reinforces our commitment to support mortgage borrowers with long-term, local currency funds and further strengthen our position in the retail segment. By providing local currency financing, ADB helps to reduce dependence on foreign currency borrowings,’ said Chief Executive Officer Vakhtang Butskhrikidze.
Current stock price: 1,365.07 pence
12-month change: up 24%
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