TBC Bank, as the largest financial institution in the Georgian market, is responsible for the sustainability and stability of the Georgian financial sector and the general economy of the country.
TBC Bank is ready to join the initiative to eliminate troublesome loans in favor of low-income citizens and persons with disabilities. The total volume of such loans at TBC Bank reaches 120 million Georgian Lari and is only 1% of the bank’s total credit portfolio. The transaction will be completed by the end of 2018.
The share of Georgian banking sector is less than 30% in the problematic loan portfolio of 1.5 billion lari and the share of TBC Bank is only 8%.
These indicators show that the banking sector of Georgia is not the main reason for the plight of the population. The new regulations of the non-banking sector and the maximum interest rate will contribute to the reduction of irresponsible credits in the future.
”We believe that activated anti-bank rhetoric recently damages the most progressive and developed industry in the region and the banking sector. This trend ultimately damages our investment image, economic development, and financial stability.
TBC Bank will significantly increase investments in increasing the financial education of the population, since the banking sector’s work and its sustainability are the guarantees of stability of the country,”-said at the company.