{"history":[],"article":{"id":"a0a1f510-3c62-41e8-9b87-98621bcf5cb0","title":"TBC Bank","slug":"tbc-bank","content":":::summary\n![TBC Bank\nთიბისი ბანკი](https://upload.wikimedia.org/wikipedia/commons/b/b0/TBC///Bank///building.jpg)\n**Name:** TBC Bank · თიბისი ბანკი \n**Logo Size:** 100 \n**Image Size:** 250 \n**Image Caption:** TBC headquarters at Marjanishvili avenue, Tbilisi \n**Type:** [Joint Stock Company](https://bliptext.com/articles/joint-stock-company) \n**Traded As:** lse: TBCG · FTSE 250 component \n**Industry:** Banking, [Financial services](https://bliptext.com/articles/financial-services) \n**Foundation:** 1992 \n**Location City:** [Tbilisi](https://bliptext.com/articles/tbilisi) \n**Location Country:** [Georgia](https://bliptext.com/articles/georgia-country) \n**Key People:** Arne Berggren (chairman) [Vakhtang Butskhrikidze](https://bliptext.com/articles/vakhtang-butskhrikidze) (CEO) \n**Area Served:**

[Georgia](https://bliptext.com/articles/georgia-country)
[Azerbaijan](https://bliptext.com/articles/azerbaijan)
[Israel](https://bliptext.com/articles/israel)
[Uzbekistan](https://bliptext.com/articles/uzbekistan)

\n**Products:** [Credit cards](https://bliptext.com/articles/credit-cards), [consumer banking](https://bliptext.com/articles/retail-banking), [corporate banking](https://bliptext.com/articles/commercial-bank), [finance and insurance](https://bliptext.com/articles/financial-services), [investment banking](https://bliptext.com/articles/investment-banking), [mortgage loans](https://bliptext.com/articles/mortgage-loan), [private banking](https://bliptext.com/articles/private-banking), [private equity](https://bliptext.com/articles/private-equity), [wealth management](https://bliptext.com/articles/wealth-management) \n**Revenue:** [GEL](https://bliptext.com/articles/georgian-lari)1,635.8 million (2023) \n**Operating Income:** GEL1,333.8 million (2023) \n**Net Income:** GEL1,140.0 million (2023) \n**Assets:** GEL32.965 billion (2023) \n**Equity:** GEL4.820 billion (2023) \n**Divisions:** Corporate Banking, Retail Banking, SME Banking, Micro Banking \n**Subsid:**

Bank Constanta
TBC Credit
TBC Leasing
TBC Invest
TBC Broker
Real Estate Management Fund
TBC Pay
UFC
BSSC

\n**Homepage:** [tbcbank.ge](https://bliptext.com/articles/undefined) \n:::\n\n# \n**TBC Bank** (თიბისი ბანკი) is a [Georgia](https://bliptext.com/articles/georgia-country)n bank headquartered in [Tbilisi](https://bliptext.com/articles/tbilisi), [Georgia](https://bliptext.com/articles/georgia-country).\nThe name, TBC Bank, traces its root to its original name, Tbilisi Business Centre, dating back to 1992.\nCurrently, TBC is registered as the official name of the bank, not just an abbreviation of the original name.\nIt is listed on the [London Stock Exchange](https://bliptext.com/articles/london-stock-exchange) and is a constituent of the [FTSE 250 Index](https://bliptext.com/articles/ftse-250-index).\n\n# History\nThe history of TBC Bank dates back to 1992 when two Georgian businessmen [Mamuka Khazaradze](https://bliptext.com/articles/mamuka-khazaradze) and Badri Japaridze, along with other Georgian partners founded the bank, Tbilisi Business Centre, abbreviated as TBC.\nThey established the bank with an initial capital of $500, which was the amount required to establish the bank in Georgia in the early 1990s.\nThe bank was licensed by the NBG (General banking license No. 85) on January 20, 1993, and was granted another license to conduct international transactions in May 1993.\nIn 1995, the bank was operating with one branch and 29 employees, its total assets amounting to $1.4 million.\nVakhtang Butskhrikidze, who joined the bank in 1993, was appointed to the position of chief executive officer (CEO) of TBC in 1995, and has remained in that position since his appointment.\nOn 11 June 2014, the London Stock Exchange welcomed TBC Bank to the Main Market following its listing of Global Depositary Receipts (GDRs).\nThe Bank raised $239m at IPO, giving it a market value of $640m.\nTBC Bank IPO was also the largest IPO from Georgia and the largest international off-index IPO from the EMEA region.\nIn January 2019, the bank announced that it was being investigated by the [National Bank of Georgia](https://bliptext.com/articles/national-bank-of-georgia) over the legality of certain transactions entered into in 2007 and 2008.\nIn February 2019, the bank was instructed by the National Bank of Georgia to ask its chairman and deputy chairman to stand down on the basis of violation of the legislation regulating conflict of interests.\nThe bank gained a banking licence in Uzbekistan in 2019, and acquired a 51% stake in the Uzbek payment provider, Payme, in the same year.\n\n# Operations\n# [TBC Bank, Tbilisi | upload.wikimedia.org/wikipedia/commons/f/f0/TBC///Bank///-///Tbilisi///-///Wikiwyprawa///2015///IMG///8253.jpg]\n# [TBC Bank, Kutaisi | upload.wikimedia.org/wikipedia/commons/f/f0/TBC///Bank///Kutaisi.jpg]\n\n## TBC Leasing\nTBC Bank established JSC TBC Leasing, headquartered in [Tbilisi](https://bliptext.com/articles/tbilisi), [Georgia](https://bliptext.com/articles/georgia-country), in January 2004 with total assets of GEL 0.5 million.\nThe Bank currently owns an 89.5% equity interest in TBC Leasing, with the remainder being held by the EBRD.\n\n## TBC Credit\nTBC Bank acquired a 75.0% equity interest in TBC Credit in late 2007.\nThe company was formerly known as SOA Kredit, a non-banking credit organization operating in the Micro and SME (MSME) financial services market in [Azerbaijan](https://bliptext.com/articles/azerbaijan) since 1999.\n\n## TBC Invest\nEstablished at the beginning of 2011, TBC Invest is a wholly owned subsidiary of JSC TBC Bank.\nIt operates in the Israeli market, serving as an intermediary between Israeli clients and TBC Bank.\n\n## My.GE\nTBC Bank acquired a majority stake in a Georgian e-commerce platform known as My.GE in August 2019.\n\n## TBC Insurance\nIn 2016, TBC Group acquired insurance company Kopenbur and established a new company, TBC Insurance.\n\n# Social responsibility\nAs part of the bank's social responsibility projects, TBC Bank founded TBC Fund to help victims of the [2008 war](https://bliptext.com/articles/russo-georgian-war) in Georgia.\nThe Bank established TBC Fund with GEL 5 million and, shortly after, raised an additional GEL 3 million for its programs.\nTBC Bank also co-founded the annual literature award, SABA, aimed at rewarding the best literature works of the year since 2003.","current_revision":null,"created_by":"kACnuQmH5k9Nr5VNVEpVeg7XpvUmMctD","created_at":"2025-01-26T07:20:28.350Z","updated_at":"2025-01-26T07:20:28.350Z","search_vector":"'bank':2 'tbc':1","search_content":" \n \n**Name:** TBC Bank · თიბისი ბანკი \n**Logo Size:** 100 \n**Image Size:** 250 \n**Image Caption:** TBC headquarters at Marjanishvili avenue, Tbilisi \n**Type:** [Joint Stock Company](https://bliptext.com/articles/joint-stock-company) \n**Traded As:** lse: TBCG · FTSE 250 component \n**Industry:** Banking, [Financial services](https://bliptext.com/articles/financial-services) \n**Foundation:** 1992 \n**Location City:** [Tbilisi](https://bliptext.com/articles/tbilisi) \n**Location Country:** [Georgia](https://bliptext.com/articles/georgia-country) \n**Key People:** Arne Berggren (chairman) [Vakhtang Butskhrikidze](https://bliptext.com/articles/vakhtang-butskhrikidze) (CEO) \n**Area Served:** [Georgia](https://bliptext.com/articles/georgia-country) [Azerbaijan](https://bliptext.com/articles/azerbaijan) [Israel](https://bliptext.com/articles/israel) [Uzbekistan](https://bliptext.com/articles/uzbekistan) \n**Products:** [Credit cards](https://bliptext.com/articles/credit-cards), [consumer banking](https://bliptext.com/articles/retail-banking), [corporate banking](https://bliptext.com/articles/commercial-bank), [finance and insurance](https://bliptext.com/articles/financial-services), [investment banking](https://bliptext.com/articles/investment-banking), [mortgage loans](https://bliptext.com/articles/mortgage-loan), [private banking](https://bliptext.com/articles/private-banking), [private equity](https://bliptext.com/articles/private-equity), [wealth management](https://bliptext.com/articles/wealth-management) \n**Revenue:** [GEL](https://bliptext.com/articles/georgian-lari)1,635.8 million (2023) \n**Operating Income:** GEL1,333.8 million (2023) \n**Net Income:** GEL1,140.0 million (2023) \n**Assets:** GEL32.965 billion (2023) \n**Equity:** GEL4.820 billion (2023) \n**Divisions:** Corporate Banking, Retail Banking, SME Banking, Micro Banking \n**Subsid:** Bank Constanta TBC Credit TBC Leasing TBC Invest TBC Broker Real Estate Management Fund TBC Pay UFC BSSC \n**Homepage:** [tbcbank.ge](https://bliptext.com/articles/undefined) \n \n\n# \n**TBC Bank** (თიბისი ბანკი) is a [Georgia](https://bliptext.com/articles/georgia-country)n bank headquartered in [Tbilisi](https://bliptext.com/articles/tbilisi), [Georgia](https://bliptext.com/articles/georgia-country).\nThe name, TBC Bank, traces its root to its original name, Tbilisi Business Centre, dating back to 1992.\nCurrently, TBC is registered as the official name of the bank, not just an abbreviation of the original name.\nIt is listed on the [London Stock Exchange](https://bliptext.com/articles/london-stock-exchange) and is a constituent of the [FTSE 250 Index](https://bliptext.com/articles/ftse-250-index).\n\n# History\nThe history of TBC Bank dates back to 1992 when two Georgian businessmen [Mamuka Khazaradze](https://bliptext.com/articles/mamuka-khazaradze) and Badri Japaridze, along with other Georgian partners founded the bank, Tbilisi Business Centre, abbreviated as TBC.\nThey established the bank with an initial capital of $500, which was the amount required to establish the bank in Georgia in the early 1990s.\nThe bank was licensed by the NBG (General banking license No. 85) on January 20, 1993, and was granted another license to conduct international transactions in May 1993.\nIn 1995, the bank was operating with one branch and 29 employees, its total assets amounting to $1.4 million.\nVakhtang Butskhrikidze, who joined the bank in 1993, was appointed to the position of chief executive officer (CEO) of TBC in 1995, and has remained in that position since his appointment.\nOn 11 June 2014, the London Stock Exchange welcomed TBC Bank to the Main Market following its listing of Global Depositary Receipts (GDRs).\nThe Bank raised $239m at IPO, giving it a market value of $640m.\nTBC Bank IPO was also the largest IPO from Georgia and the largest international off-index IPO from the EMEA region.\nIn January 2019, the bank announced that it was being investigated by the [National Bank of Georgia](https://bliptext.com/articles/national-bank-of-georgia) over the legality of certain transactions entered into in 2007 and 2008.\nIn February 2019, the bank was instructed by the National Bank of Georgia to ask its chairman and deputy chairman to stand down on the basis of violation of the legislation regulating conflict of interests.\nThe bank gained a banking licence in Uzbekistan in 2019, and acquired a 51% stake in the Uzbek payment provider, Payme, in the same year.\n\n# Operations\n# [TBC Bank, Tbilisi | upload.wikimedia.org/wikipedia/commons/f/f0/TBC///Bank///-///Tbilisi///-///Wikiwyprawa///2015///IMG///8253.jpg]\n# [TBC Bank, Kutaisi | upload.wikimedia.org/wikipedia/commons/f/f0/TBC///Bank///Kutaisi.jpg]\n\n## TBC Leasing\nTBC Bank established JSC TBC Leasing, headquartered in [Tbilisi](https://bliptext.com/articles/tbilisi), [Georgia](https://bliptext.com/articles/georgia-country), in January 2004 with total assets of GEL 0.5 million.\nThe Bank currently owns an 89.5% equity interest in TBC Leasing, with the remainder being held by the EBRD.\n\n## TBC Credit\nTBC Bank acquired a 75.0% equity interest in TBC Credit in late 2007.\nThe company was formerly known as SOA Kredit, a non-banking credit organization operating in the Micro and SME (MSME) financial services market in [Azerbaijan](https://bliptext.com/articles/azerbaijan) since 1999.\n\n## TBC Invest\nEstablished at the beginning of 2011, TBC Invest is a wholly owned subsidiary of JSC TBC Bank.\nIt operates in the Israeli market, serving as an intermediary between Israeli clients and TBC Bank.\n\n## My.GE\nTBC Bank acquired a majority stake in a Georgian e-commerce platform known as My.GE in August 2019.\n\n## TBC Insurance\nIn 2016, TBC Group acquired insurance company Kopenbur and established a new company, TBC Insurance.\n\n# Social responsibility\nAs part of the bank's social responsibility projects, TBC Bank founded TBC Fund to help victims of the [2008 war](https://bliptext.com/articles/russo-georgian-war) in Georgia.\nThe Bank established TBC Fund with GEL 5 million and, shortly after, raised an additional GEL 3 million for its programs.\nTBC Bank also co-founded the annual literature award, SABA, aimed at rewarding the best literature works of the year since 2003.","revisionCount":0},"hasMore":false,"nextCursor":null}