TBC Bank Group PLC TBC Bank Strengthens CIB Capabilities (6598P)

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RNS Number : 6598P

TBC Bank Group PLC

21 November 2016

TBC Bank Group PLC ("TBC" or "the Bank") Strengthens Corporate and Investment Banking Capabilities

Following the successful acquisition of Bank Republic, TBC is further strengthening its corporate and investment banking capabilities.

TBC announces today the creation of a CIB unit through the merger of its Corporate and Investment Banking to provide clients with debt, capital markets products and advisory services through a fully integrated franchise.

The new CIB structure will be headed by George Tkhelidze, who currently holds the position of Deputy CEO and Chief Risk Officer.

George brings strong international and local banking experience to the role. Before joining TBC, he spent five years at Barclays Bank, London in its Corporate and Investment Banking units as Vice President in Financial Institutions Group (FIG).

After joining TBC in 2014 as a Management Board member in charge of Risk Management, George successfully led the strengthening of the Bank's risk management structure and overall risk profile.

George also played an important role in the successful acquisition of Bank Republic and has a thorough knowledge of the Bank's business clients.

Following the change, David Tsiklauri, head of the corporate banking division will be leaving the bank to pursue other opportunities outside TBC Bank.

Vakhtang Butskhrikidze, Chief Executive Officer said: "I would like to congratulate George on this appointment, and wish him the same success in this new role as he enjoyed as our Chief Risk Officer. Newly-formed Corporate and Investment Banking business will play crucial role in TBC Bank's development."

George joined TBC Bank in 2014 from Barclays Investment Bank, where he held the position of Vice President in the Financial Institutions Group (FIG) M&A, EMEA since June 2011. Prior to this, from September 2009 he was an Associate Director in Barclays Debt Finance and Restructuring Teams in Barclays Corporate Division. During his career with Barclays in London, George worked on and executed multiple M&A, debt and capital markets transactions with European clients. In his earlier career in Georgia, George held various managerial positions at ALDAGI insurance company, where he also served as Chief Executive Officer.

George graduated from the London Business School with an MBA degree (2009). He also holds Master of Laws degree (LL.M) in International Commercial Law from the University of Nottingham (2002) and Graduate Diploma in Law from Tbilisi State University (2000).

If you have any questions, please contact:

Head of Investor Relations

Anna Romelashvili

[e-mail]

About TBC Bank Group PLC ("TBC PLC")

TBC PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC PLC became the parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016.

About TBC Bank

TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 29.7% of loans (37.2% with Bank Republic) and 30.6% of non-banking deposits (35.5% with Bank Republic) as at 30 September 2016, according to the data published by the NBG. As a result of the acquisition of JSC Bank Republic, TBC Bank becomes the largest bank in Georgia by all key metrics.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 21, 2016 02:00 ET (07:00 GMT)