TBC launches Gratitude Campaign

TBC Bank announced it was launching a Gratitude Campaign on Tuesday. “The purpose of this action is to thank our devoted clients who have gone through this tough period with us,” bank officials said.

Speaking at the launch ceremony General Director of TBC Bank Vakhtang Butskhrikidze said that it has overcome the toughest period and moved into a “post-crisis development” phase. He said that longstanding clients of TBC will receive special plastic cards which will give them privileges and features including internet banking and direct debit facilities and the chance to make children’s deposits with a more than 1 percent interest rate.

Butskhrikidze briefly outlined the achievements of the bank during 2009. He said that USD 161 million investment had been made in TBC and that EBRD, FMO, JP Morgan and Ashmore had become new shareholders of the bank. Iinternational ratings agency FitchRatings now gives TBC a B+ rather than the previous B rating.

“TBC has opened four new branches, two in Tbilisi, one in Batumi and one in Kutaisi,” Butskhrikidze said “We have simplified loan procedures and decreased interest rates on auto instalments and consumer and mortgage loans,” he noted, adding that in 2009 TBC had improved all its main financial indicators including assets, capital and deposits.

“We, TBC and its clients, strengthen each other; this is not a one-sided relationship. We have been supporting each other for several years and I hope through this cooperation we will become even more successful and strong,” Butskhrikidze said.