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TBC BANK ANNOUNCES THE APPOINTMENT OF NEW CHIEF RISK OFFICER

TBC Bank, a leading bank in Georgia, is pleased to announce the appointment of George Tkhelidze as Chief Risk Officer, effective from December 2014. The former Chief Risk Officer, Archil Mamatelashvili, will take the position of Advisor to the Management Board for Macroeconomics and the Financial Sector.

Mr. Tkhelidze joins TBC Bank from Barclays Investment Bank, where he held the position of Vice President in the Financial Institutions Group (FIG), EMEA since June 2011. For the two years prior to this he was an Associate Director in Barclays Debt Finance and Restructuring Teams. In his earlier career in Georgia, Mr. Tkhelidze held various managerial positions in ALDAGI insurance company, where he also served as Chief Executive Officer until he left the position in 2007 to obtain his MBA degree from London Business School. During his career in London, Mr. Tkhelidze executed multiple M&A, debt and capital markets transactions with European financial institutions. Mr. Tkhelidze graduated from Tbilisi State University in 2000 with a Diploma in Law and in 2002 obtained a Master of Laws degree in International Commercial Law at the University of Nottingham.

Commenting on the appointment, Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank said, “I am very pleased to welcome George to TBC Bank’s Management Board and as Chief Risk Officer. George brings with him extensive banking sector expertise combined with managerial experience in Georgia. Importantly, George was one of the key advisors on our recent successful IPO and knows TBC Bank well. I am confident that George will contribute a great deal to the Bank’s further growth and development. I would also like to take the opportunity to thank Archil for his superior work and invaluable contribution to the Bank’s success during the transition period when he served as the Bank’s CRO. I would also like to wish him further success with his new duties.