TBC Bank

The history of TBC Bank dates back to 1992 when two Georgian businessmen Mamuka Khazaradze and Badri Japaridze, along with other Georgian partners founded the bank, Tbilisi Business Centre, abbreviated as TBC. They established the bank with an initial capital of $500, which was the amount required to establish the bank in Georgia in the early 1990s.{{cite news |last1=Gorst |first1=Isabel |title=Banking, bricks and water |url=http://www.ft.com/intl/cms/s/0/0361f524-8753-11dc-a3ff-0000779fd2ac.html#axzz3HRCBHaKM |work=Financial Times |date=31 October 2007 |archive-url=https://archive.today/20150507094503/http://www.ft.com/intl/cms/s/0/0361f524-8753-11dc-a3ff-0000779fd2ac.html%23axzz3HRCBHaKM |archive-date=7 May 2015}} The 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.{{cite web|url=http://ifcext.ifc.org/ifcext/spiwebsite1.nsf/ProjectDisplay/SPI_DP26802|title=TBC Bank|work=ifc.org|access-date=21 April 2015}}{{cite web|url=http://www.banksdaily.com/info/tbc-bank|title=TBC Bank, Tbilisi, Georgia - head office, address, phone, website and SWIFT-BIC codes|work=banksdaily.com|access-date=21 April 2015}}

In 1995, the bank was operating with one branch and 29 employees, its total assets amounting to $1.4 million. Vakhtang 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.{{cite web|url=https://www.bloomberg.com/profiles/people/18734143-vakhtang-butskhrikidze|title=Vakhtang Butskhrikidze|work=Bloomberg|access-date=21 April 2015}}

On 11 June 2014, the London Stock Exchange welcomed TBC Bank to the Main Market following its listing of Global Depositary Receipts (GDRs). The Bank raised $239m at IPO, giving it a market value of $640m. TBC Bank IPO was also the largest IPO from Georgia and the largest international off-index IPO from the EMEA region.{{cite web|url=http://www.georgiatoday.ge/article_details.php?id=12370|title=TBC Bank on the London Stock Exchange|author=Sergey Gevenov|work=georgiatoday.ge|access-date=21 April 2015|url-status=dead|archive-url=https://web.archive.org/web/20150102084220/http://georgiatoday.ge/article_details.php?id=12370|archive-date=2 January 2015}}{{cite web|url=http://agenda.ge/news/15716/eng|title=Agenda.ge - Georgia's TBC Bank welcomed to London Stock Exchange opening market|work=agenda.ge|access-date=21 April 2015}}{{cite web|url=http://www.ft.com/intl/cms/s/0/6e2f7e6c-d7a1-11e3-b381-00144feabdc0.html?siteedition=intl#axzz3HRCBHaKM|title=TBC hopes to deflect Russian fears with $300m LSE listing|work=Financial Times|access-date=21 April 2015}}

In January 2019, the bank announced that it was being investigated by the National Bank of Georgia over the legality of certain transactions entered into in 2007 and 2008.{{cite web|url=https://uk.reuters.com/article/uk-tbc-bank-group-probe-georgia/tbc-bank-says-unit-being-investigated-by-georgia-central-bank-idUKKCN1P30XH|archive-url=https://web.archive.org/web/20190109152503/https://uk.reuters.com/article/uk-tbc-bank-group-probe-georgia/tbc-bank-says-unit-being-investigated-by-georgia-central-bank-idUKKCN1P30XH|url-status=dead|archive-date=January 9, 2019|title=TBC Bank says unit being investigated by Georgia central bank|date=9 January 2019|publisher=Reuters|access-date=21 November 2019}}

In 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.{{cite web|url=https://cbw.ge/banking/tbc-bank-chair-and-deputy-chair-asked-to-resign-from-unit-by-regulator|title=TBC Bank Chair And Deputy Chair Asked To Resign From Unit By Regulator|date=1 February 2019|publisher=Caucasus Business Week|access-date=21 November 2019}}

The bank gained a banking licence in Uzbekistan in 2019, and acquired a 51% stake in the Uzbek payment provider, Payme, in the same year.{{Cite news|url=https://www.uzdaily.uz/en/post/49077|title=TBC Bank acquires leading Uzbek payment platform Payme|newspaper=Uz Daily|date=11 April 2019|access-date=14 December 2022}}

File:TBC Bank - Tbilisi - Wikiwyprawa 2015 IMG 8253.jpg

File:TBC Bank Kutaisi.jpg]]

TBC Bank established JSC TBC Leasing, headquartered in Tbilisi, Georgia, in January 2004 with total assets of GEL 0.5 million. The Bank currently owns an 89.5% equity interest in TBC Leasing, with the remainder being held by the EBRD.{{cite web|url=http://tbcbank.ge/en/corporate/finance_insurance_and_investment/business_leasing/|title=Welcome - TBC Bank|work=tbcbank.ge|access-date=21 April 2015}}

TBC Bank acquired a 75.0% equity interest in TBC Credit in late 2007. The company was formerly known as SOA Kredit, a non-banking credit organization operating in the Micro and SME (MSME) financial services market in Azerbaijan since 1999.{{cite web|url=http://www.ebrd.com/news/2013/ebrd-supports-financing-to-micro,-small-and-medium-enterprises-in-azerbaijan.html|title=EBRD supports financing to micro, small and medium enterprises in Azerbaijan|publisher=EBRD|date=26 August 2013|access-date=21 April 2015}}

Established at the beginning of 2011, TBC Invest is a wholly owned subsidiary of JSC TBC Bank. It operates in the Israeli market, serving as an intermediary between Israeli clients and TBC Bank.{{cite web|url=http://tbcinvest.co.il/?lang=eng|title=TBC INVEST|work=tbcinvest.co.il|access-date=21 April 2015|archive-date=27 July 2013|archive-url=https://web.archive.org/web/20130727110308/http://tbcinvest.co.il/?lang=eng|url-status=dead}}

TBC Bank acquired a majority stake in a Georgian e-commerce platform known as My.GE in August 2019.{{cite web|url=https://bm.ge/en/article/tbc-group-buys-majority-stake-in-georgian-e-commerce-platform-myge-for-gel-195-million/38668|title=TBC Group Buys Majority Stake in Georgian E-Commerce Platform MY.GE for GEL 19.5 million|publisher=Business Media Georgia|date=19 August 2019|access-date=24 March 2022}}

In 2016, TBC Group acquired insurance company Kopenbur and established a new company, TBC Insurance.{{Cite web|url=https://tbcinsurance.ge/page/chven-shesaxeb|title=ABOUT US|website=TBC INSURANCE}}

Digital payment platform based in Georgia, operated under the TBC Bank Group. It provides online and offline payment services for individuals and businesses and is part of the country’s broader digital finance infrastructure. TBC Pay supports a variety of payment types and money transfer methods and operates one of the largest networks of self-service payment terminals in Georgia.{{Cite web|url=https://tbcpay.ge/en/|title=TBC PAY easy and fast online payments|website=TBC PAY}}

TBC Pay is part of the TBC Bank Group PLC, one of Georgia’s largest financial institutions. The platform offers digital services through a mobile app and website, as well as physical terminals located throughout the country. Its services are used for a wide range of payments, including utility bills, government fees, mobile top-ups, and transportation fines. {{cite web|url=https://www.8b.world/blog/tbc-pay-and-the-future-of-digital-payments-in-georgia-why-it-matters|title=TBC Pay and the Future of Digital Payments in Georgia: Why It Matters|work=8b.world|access-date=23 April 2025}}

As part of the bank's social responsibility projects, TBC Bank founded TBC Fund to help victims of the 2008 war in Georgia.{{cite web|url=http://www.tbcfund.ge/?lan=eng&cat=1&sub=-1|title=TBC Fund|work=tbcfund.ge|access-date=21 April 2015|archive-date=4 March 2016|archive-url=https://web.archive.org/web/20160304125548/http://www.tbcfund.ge/?lan=eng&cat=1&sub=-1|url-status=dead}} The Bank established TBC Fund with GEL 5 million and, shortly after, raised an additional GEL 3 million for its programs.{{cite web|url=http://caucasus-naturefund.org/tbc-bank-partners-with-the-caucasus-nature-fund/|title=Caucasus Nature Fund - TBC Bank Partners with the Caucasus Nature Fund|work=Caucasus Nature Fund|date=26 June 2013 |access-date=21 April 2015}}

TBC Bank also co-founded the annual literature award, SABA, aimed at rewarding the best literature works of the year since 2003.{{cite web|url=https://saba.com.ge/ |title=Saba|access-date=21 April 2015}}

{{Reflist}}

{{FTSE 250 Index constituents}}

{{Georgian banks}}

{{Authority control}}

Category:Banks of Georgia (country)

Category:Companies based in Tbilisi

Category:Banks established in 1992

Category:1992 establishments in Georgia (country)

Category:Companies listed on the London Stock Exchange

Category:Companies in the FTSE 250 Index