“We are proud to have built such a successful relationship with FMO, TBC Bank’s long-standing partner. We started our partnership in 2006 and during these 12 years, FMO has provided more than USD 350 million in MSME and mortgage loan financing, as well as local currency and subordinated loans. Local currency funding is of great importance for the Georgian financial sector as it allows us to supply financing for the increasingly high demand in local currently loans and enables us to further strengthen the Bank’s leading position in the MSME segment. In addition, a public placement of bonds will further support local capital market development in Georgia. This transaction reflects both institutions’ commitment to continued cooperation and we look forward to more years of productive partnership.” commented Vakhtang Butskhrikidze, CEO of TBC Bank.
FMO’s Chief Executive Officer, Peter van Mierlo commented: “FMO is proud to continue its long-standing and successful relationship with TBC Bank in Georgia. This new transaction will enable TBC to reduce inequality and support financial inclusion, particularly among young entrepreneurs as they will now have access to financial services. This is an important contribution to stimulating job creation in Georgia."
