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Vakhtang Butskhrikidze

Vakhtang Butskhrikidze Reviews Performance of Banking Sector in 2015

The Fitch rating for the Georgian bank sector is “Stable”. This signifies considerable reserves of commercial banks will compensate the quality of assets affected by the GEL depreciation.

The 36% devaluation was the main challenge in 2015. The bank sector has showed steadiness amid the GEL depreciation, GDP growth slowdown and a demand contraction in exports markets. The Georgian bank sector has maintained positive indicators.

Vakhtang Butskhrikidze The General Director of TBC Bank reviews the banking sector’s performance in 2015.

We confirm our plans to take one important step for development. TBC Bank built strong and stable business 20 years ago and this is a logic continuation of our evolution towards a public company.

“In this respect the year of 2015 was fruitful. The bank follows the determined course. We should emphasize our involvement in the energy sector, Georgia’s one of the strategic directions.”

The power sector has huge development potential and we will actively cooperate in this direction with other companies. At the same time, the bank has been actively positioning in the market and ranks first in terms of individual deposits. TBC Bank has intensified activities in the social responsibility projects. The current year was completed with the New Year of New Mziuri campaign, when our bank marked its 23rd anniversary. This campaign is the part of our campaign for support of the June 13 natural disaster victims.

This year TBC Bank hosted an annual meeting of EBRD and large-scale business forum. Besides international awards, TBC Bank ranks first in media sector inquiry in terms of public confidence and reliability