Georgia's TBC Bank receives several top awards today
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One of Georgia’s leading banks, TBC Bank, has won two awards from the European Bank for Reconstruction and Development (EBRD) today while the Bank's CEO was named CEO of the Year 2014 of Central and Eastern Europe and CIS countries at the Europe Banking Awards 2014.
Both awarding ceremonies took place in Tbilisi today.
The Europe Banking Awards ceremony 2014 was held at Radisson Blu Iveria Hotel, where TBC Bank received the award for Best Bank in Georgia for the fourth consecutive year.
At the same time, at the Trade Facilitation Programme (TFP) EBRD event at Tbilisi Parliament, the Bank's CEO Vakhtang Butskhrikidze received an award for the Most Active Issuing Bank in Georgia, and the overall award of Best Deal of 2014, for the Bank's efforts supporting the Gudauri and Bakuriani Snowmaking project.
The bank’s winning transaction was a Letter of Credit issued for the import of artificial snowmaking equipment that boosted the country’s winter season and helped develop tourism.
Several artificial snow machines were installed last year at the Gudauri and Bakuriani ski resorts. The equipment created a healthy snow cover during the winter season and would ensure the resorts could operate effectively even in times of low natural snow cover.
"For many years the EBRD’s TFP has helped to develop the trade finance business of TBC Bank and we are very pleased to see the 2015 information session and award ceremony taking place in our country,” said Butskhrikidze, underlining the importance of trade finance for TBC Bank and the wider banking sector in Georgia.
Launched in 1999, the TFP aimed to promote foreign trade to, from and among EBRD recipient countries. The TFP currently included over 100 partner banks in 26 countries where the Bank invests, with limits exceeding €1.5 billion in total and more than 800 confirming banks worldwide.
The TFP Awards ceremony concluded with a dinner reception at Courtyard Marriott where guests were treated to a performance by the Sukhishvili Georgian National Ballet.
World leading financial magazine The Banker, owned by the Financial Times Group, has named Georgia’s National Bank President Giorgi Kadagidze as the top Central Bank Governor of the Year 2014 for Europe.
Prestigious financial magazine Trade and Forfaiting Review has named one of TBC Bank's transactions as "the best deal of 2014" in the world.
Georgia’s capital Tbilisi will host hundreds of banking sector representatives from around the globe at a special ceremony that honours banking industry performers from Europe, the Middle East and Africa (EMEA).
The European Bank for Reconstruction and Development (EBRD) is launching a program to support women entrepreneurship in Georgia.
Georgia is a successful, ambitious nation with many opportunities for further development and growth, believes the country’s Prime Minister Irakli Garibashvili.
One of Georgia’s largest banks, TBC Bank, is about to purchase another large bank and merge its services into its own.
Georgia’s TBC Bank is now among the world’s 12 most influential banks listed in the premium segment on the London Stock Exchange (LSE).
TBC Bank’s ambition to build the leading banking group in Georgia has become reality after it purchased another local bank, Progress Bank, initially founded by Georgia’s former Minister of Energy Kakha Kaladze.
The Prosecutor's Office says that its Financial Monitoring Service launched a study of financial assets of TBC Bank, its client companies, bank administrators and particular shareholders in May 2018, which revealed that there were “signs of money laundering”.