Swedfund-financed TBC Bank Wins CSR Award

One of Swedfunds investments in Georgia, TBC Bank, was awarded Best Bank in Georgia and Best CSR in the region in the Europe Banking Awards arranged by EMEA Finance magazine.

For the third consecutive year, TBC Bank was awarded Best Bank in Georgia. New this year, TBC Bank was also rewarded Best Corporate Social Responsibility in Central and Eastern Europe (CEE) and the countries of the Commonwealth of Independent States (CIS). TBC Bank is the first Georgian company ever to be recognized at a regional level for CSR achievement.

“We are honored to win the prestigious Best Bank in Georgia Award from EMEA Finance for the third consecutive year. We are especially pleased to receive the award for Best Corporate Social Responsibility within the wider, CEE & CIS region – the first Georgian company ever to be awarded for achievements in CSR on a regional scale. This international recognition reinforces our determination to continue delivering outstanding results, while maintaining our traditional focus on sustainable corporate practices and policies,” commented Vakhtang Butskhrikidze, CEO, TBC Bank.

Swedfund invested in TBC Bank in 2013 with a 10 million USD long-term subordinated loan facility to support the development of the Georgian financial sector and to enable TBC Bank to further expand its financing capabilities across the country. The loan was arranged by FMO, the Dutch development bank.

About TBC Bank

TBC Bank is a leading universal bank in Georgia, serving micro, small and medium enterprises. TBC Bank has a wide presence within Georgia and an expanding network in the region. The bank was established in 1992 and is currently one of the leading banks in Georgia with over 1 million accounts and 4,000 employees.

About EMEA Finance Magazine

EMEA Finance is a bi-monthly magazine focused on the financial markets in Europe, the Middle East and Africa. The EMEA Finance Europe Banking Awards program is in its sixth year. This year, TBC Bank was named a winner among such institutions as Barclays, HSBC, Credit Suisse, Raiffeisen Bank International and Citi.