TBC Bank Group PLC Management Board Structural Changes (8816A)

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RNS Number : 8816A

TBC Bank Group PLC

24 January 2020

Structural Changes to the composition of the Management Board

TBC Bank Group PLC ("TBC PLC") announces certain changes to the composition of the Management Board of its principal subsidiary, JSC TBC Bank ("TBC Bank"). These changes are being driven by the appointment of a new Chief Risk Officer following the departure of the previous Chief Risk Officer at the end of his contractual term in order to pursue other career opportunities. As a result, TBC Bank has decided to implement the following structural changes to the composition of the Management Board:

   1. Nino Masurashvili, Deputy CEO, who has previously been in charge of retail banking development of TBC Bank, has 
      been appointed as the new Chief Risk Officer; 
 
   2. Tornike Gogichaishvili, Deputy CEO and Chief Operations Officer of the Bank has been appointed to lead retail 
      banking business of the Bank; 
 
   3. Functions which have previously been carried out by the COO have been re-allocated to be the responsibility of 
      the CFO or the Deputy CEO, SME & Micro Banking 

Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank, commented:

"I would like to thank David Chkonia for his significant contribution to enhancing our risk management system and to wish him success in his future career. Also, I would like to wish Nino Masurashvili and Tornike Gogichaishvili success in their new roles."

For further enquiries, please contact:

Director of International Media and Investor Relations

Zoltan Szalai

Or

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. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of FTSE 250 Index.

TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 38.7% of loans and 39.3% of non-banking deposits as at 30 September 2019, according to data published by the National Bank of Georgia.

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January 24, 2020 06:20 ET (11:20 GMT)