28.Feb .2020 17:19

Where TBC Plans to Enter – Vakhtang Butskhrikidze about the Bank’s Plans

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TBC Bank plans to enter the Europe, - Vakhtang Butskhrikidze, CEO of TBC Bank told Business Morning.

According to him, the bank initially will try its forces in Germany and offer its products to Georgians there.

“We say for the last two years that our goal is to make life easier for people and to reach 10 million customers in the medium term. These two things are in line with any of our decisions. Most importantly, we focus on technology. Given the population of Georgia, our customers’ number must be increased to 10 million, it seemed simple, but it required us to travel outside Georgia and find countries where we would have competitive advantage.

The first focus of 2020 will be to open a bank in Uzbekistan by the summer. Today we have 4 million users, including 1 million 900 thousand in Uzbekistan. We have already tested and are going to try ourselves in Europe. The first market that we can reach is probably Germany. Probably, the first target audience will be our citizens who have started working there. We will try to see how we will succeed and then we will discuss other plans, ”Butskhrikidze said.

According to him, the third market on which TBC Bank will try its forces will be Azerbaijan. According to Butskhrikidze, the partner has already been selected.