TBC Bank celebrates exceptional 2011
By Ernest Petrosyan
Friday, January 27President of TBC Bank, Vakhtang Butskhrikidze, announced that 2011 was the most successful year for the bank, citing increased possibility, entrance into new markets, and a series of prestigious awards.
Last year, TBC saw its assets increase by almost one billion GEL, to a total of 3 billion GEL.
At the January 26 briefing, he noted that the deposit portfolio had increased by 615 million GEL, amounting to a total of 970 million GEL. This growth was the result of successful marketing campaigns "Find $10 000" and "Win $20 000" (both USD). These campaigns were acknowledged by prestigious advertising festivals Popok and Eurobest, the latter of which awarded TBC both gold and silver prizes.
In addition, TBC entered the micro-finance market, through the acquisition of 80% of Constanta Bank in spring 2011, which Butskhirkidze referred to as his bank's highest achievement that year. As a result of this deal, TBC gained a strong share of the micro-finance market. Constanta was able to increasing its assets by 78% and its credit portfolio by 71%. Butskhirkidze also noted that the TBC's loan portfolio had increased by 503 million GEL, exceeding the two billion lari mark.
Both the Financial Group Journal and the Euromoney journal named TBC the best bank of 2011, while Fitch, the international financial ranking agency, increased the bank’s viability ranking from B to B+. In addition, both Deutsche Bank and Commerzbank identified TBC as the best Georgian bank.
As for TBC's subsidiaries, TBC Leasing increased its market share by 18.7 percent points; the assets of TBC Credit, operating in Azerbaijan, increased by 35% and its credit portfolio grew by 31%; and TBC Invest (Israel) increased its deposits portfolio by 15 million GEL.
In 2012, TBC is set to mark its 20-year anniversary. In celebration, the “20 Years – 12 Months” project has launched, with a series of surprises for consumers to be rolled out all year long.